Liberty Defense Announces $4.3 Million USD Credit Facility With Parabilis to Support Working Capital
August 22, 2024
Source: Yahoo Finance
Parabilis offers government contract financing solutions, specializing in providing fast, flexible, and affordable lines of credit to small and medium-sized contractors. Leveraging their management team's 100 years of government contracting executive experience, Parabilis aims to support the growth of businesses by addressing the common problem of working capital requirements. Their services enable government contractors to fund rapid growth, bid with confidence, and protect profits, empowering them to realize the profitability they have earned.
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Liberty will leverage purchase orders, government contracts and accounts receivables from commercial product sales to support working capital needs
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The agreement provides immediate access to cash flow to support production of inventory to meet ongoing demand
"This is not just a credit facility as we have gained a true partner in Parabilis that appreciates the importance of the technology and will be there to support our growth. This agreement gives us a source of non-dilutive funding that helps us advance our commercial efforts, said Bill Frain, CEO of Liberty Defense. "The ongoing demand we are seeing for HEXWAVE in the marketplace is driving the need to manufacture more product and manage our working capital in support of sales. In addition, this program supports the significant progress on the commercialization of the High-Definition AIT upgrade kit which we intend to deploy at airports in 2025."
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On Behalf of Liberty Defense
Bill Frain
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB: LDDFF, FRANKFURT: LD2A) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty's HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
FORWARD-LOOKING STATEMENTS
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SOURCE Liberty Defense Holdings, Ltd.