Not for distribution to U.S. news wire services or dissemination in the United States
Vancouver, British Columbia – April 30, 2020 – First Responder Technologies Inc. (CSE:WPN)(FWB: 3WK)(“First Responder” or the “Company”) a developer of WiFi-based technologies to detect and deter mass shooting and terror attacks involving concealed weapons, is pleased to announce that on April 29, 2020, it signed an exclusive reseller and strategic partnership agreement with Sabre Global UK Ltd. (“Sabre UK”) for the distribution of the Company’s units in the UK market (the “Distribution Agreement”).
Sabre UK is a technology systems integrator and value-added reseller focused on introducing North American military and public safety technology to the United Kingdom (the “Territory”). Additional information about Sabre UK is available on Sabre UK’s website, which may be accessed at https://sabre-global.co.uk.
“With leading government agencies and private sector clients in the UK, Sabre UK is well-positioned to develop the market for First Responder’s products and services in the Territory, and we look forward to partnering with their experienced team to help build a business there,”
said Robert Delamar, the Company’s CEO.
If Sabre UK acquires and distributes the minimum number of the Company’s units required to maintain exclusive distribution rights in the Territory, as required by the terms of the Distribution Agreement, the Distribution Agreement may generate more than USD $11 million in revenue through the end of 2022. The Company anticipates a gross margin of up to approximately 50% per unit, once the Company’s supply chain and manufacturing reach maturity and scale.
“The First Responder-Sabre partnership brings together extensive skills in business and technology strategy, product ideation, technology development and deployment, and most importantly, public safety,” said Ian Church, Commercial Director of Sabre UK. “This partnership aligns with our core strategy on many fronts and we are excited to introduce First Responder’s innovative detection products to our valued customers.”
Pursuant to the Company’s previously disclosed product development roadmap, delivery of the first units under the Distribution Agreement is anticipated to be delivered before the close of calendar 2020, with delivery accelerating as the Company meets development milestones through 2021 and 2022.
Sabre UK will work with the First Responder through the remainder of 2020 to engage defence and public safety agencies in the UK, as well as ramp up and roll out customer support and service in the UK market. As First Responder’s exclusive partner in the UK, all sales, installation and aftermarket support and service will be provided to UK customers by Sabre UK, with the First Responder providing support to Sabre UK as needed. The Distribution Agreement will remain in effect until terminated by the parties, and the exclusivity provisions contained therein will remain in effect until December 31, 2022.
The Company continues to make progress in developing reseller partnerships in most of the major global markets.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About First Responder Technologies Inc.
First Responder Technologies Inc. (CSE:WPN)(FWB: 3WK)(the “Company”) is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market. The Company is developing a WiFi-based technology, based in part, on academic research licensed from Rutgers, the State University of New Jersey (“Rutgers”) that can be used to detect concealed weapons. The Company’s threat detection technology line of business was created to capture a significant portion of the global weapons detection systems market, and in particular, the global perimeter security detection market. In the Company’s view, WiFi‐based threat detection technology may be utilized by a wide range of facilities, including schools, places of worship, shopping centres and theatres, to not only make their premises secure, but also reduce their cost of security, from the interior of a facility to the perimeter.
For more information visit: www.firstrespondertech.com or follow us on Twitter, LinkedIn and Facebook.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward‐looking information, including statements regarding revenue expected to be generated pursuant to First Responder’s agreement with Sabre UK. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
FINANCIAL OUTLOOK INFORMATION – This news release contains “financial outlook information” regarding future revenue expectations, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above. Revenue and other estimates contained in this news release were made by First Responder’s management as of the date of this news release and are provided for the purpose of informing readers of the anticipated size of First Responder’s agreement with Sabre UK, and are not an estimate of profitability or any other measure of financial performance. Investors are cautioned that the financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.