- Visiontec Systems is a long-established Canadian
distributer/integrator with a mission to provide its customers with
best-in-class products and technologies as they emerge in today's
security screening and detection markets.
- ScanTech is a developer and manufacturer of state-of-the-art
fixed-gantry CT scanners that utilizes proprietary artificial
intelligence (AI) and machine learning capabilities to accurately
and quickly detect hazardous and contraband materials.
GEORGETOWN, ON and BUFORD, Ga., Nov. 17,
2023 /PRNewswire/ -- ScanTech Identification
Beam Systems, LLC ("ScanTech"), an innovator of next-generation
'fixed-gantry' computed tomography (CT) screening systems,
based in Metro-Atlanta, Georgia,
and Visiontec Systems ("Visiontec"), a value-added Canadian
supplier that specializes in providing front-line security and
CBRNE (chemical, biological, radiological, nuclear and explosive)
technologies, products and services, today announced that Visiontec
has entered into a definitive contract to provide ScanTech's CT
screening systems to one of the largest, most diverse power
producers in North America.
Pursuant to the multimillion-dollar contract, Visiontec will
deliver, integrate, install, train and provide long term technical
support for ScanTech's SENTINEL CT Checkpoint Baggage Scanning
System to provide security screening for large-scale critical
nuclear power infrastructure in Canada.
"ScanTech had initially focused its development on providing
screening services to the airport security market. However, as the
world becomes more unstable, we recognize that a broad range of
mission critical infrastructure needs to enhance its front-end
security. So we are excited to partner with Visiontec Systems to
deliver our advanced screening systems to this market," stated
Dolan Falconer, CEO of ScanTech.
"Visiontec Systems always strives to provide its customers with
the best equipment available in tandem with highly responsive
technical services. This Canadian customer was looking to replace
its existing conventional x-ray technology with a new class of CT
screening systems to expand its efficiency in detecting new and
upcoming threats. ScanTech emerged as the answer to this challenge,
and we greatly look forward to implementing this landmark contract
with them." stated Dave Corrigan,
President of Visiontec Systems.
About ScanTech Identification Beam Systems, LLC
ScanTech has developed one of the world's most advanced
non-intrusive 'fixed-gantry' CT screening technologies. ScanTech
utilizes proprietary artificial intelligence (AI) and machine
learning capabilities in its state-of-the-art fixed-gantry CT
scanners to accurately and quickly detect hazardous and contraband
materials. ScanTech's 'fixed-gantry' CT scanners are engineered to
automatically locate, discriminate, and identify threat materials
and items of interest at checkpoints in airports, seaports,
borders, embassies, corporate headquarters, government &
commercial buildings, factories, processing plants, and other
facilities where terrorism and prohibited items are a possibility.
Whether explosives or contraband, ScanTech's 'fixed-gantry' CT
scanners can detect, identify, precisely locate, and discriminate
materials of interest hidden inside scanned targets. From
suitcases, briefcases, and backpacks to large packages, and
parcels, ScanTech has a non-intrusive inspection solution to meet
the requirements of a broad range of critical infrastructure
industries.
On September 5, 2023 ScanTech
announced that it had entered into a definitive business
combination agreement with Mars Acquisition Corp. (Nasdaq: MARX)
("Mars"), a publicly traded special purpose acquisition company,
that will result in ScanTech becoming a publicly traded company.
Pursuant to the proposed business combination transaction, each of
ScanTech and Mars will become subsidiaries of ScanTech AI Systems
Inc., a newly formed Delaware
holding company ("Pubco"), and the business of Pubco will be the
continued business of ScanTech. Pubco expects to apply for listing,
to be effective at the time of the business combination, of the
Pubco common stock on Nasdaq under the symbol "STAI".
About Visiontec Systems.
Visiontec Systems is a Canadian integration and solutions
company providing front-line security and CBRNE technologies,
products and services to agencies across the country. Representing
only select international manufacturers with world-class security
products, Visiontec takes the time to carefully understand customer
needs and recommend the right solution ranging from a single
product to an entire turnkey security system. For more information,
visit www.visiontecsystems.com
About Mars Acquisition Corp.
Mars Acquisition Corp. is a Cayman
Islands exempted company incorporated as a blank check
company, also commonly referred to as a special purpose acquisition
company, or SPAC, formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential business combination between Mars and
ScanTech. This press release does not constitute an offer to sell
or exchange, or the solicitation of an offer to buy or exchange,
any securities, nor shall there be any sale of securities in any
state or other jurisdiction in which such offer, sale or exchange
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of the United States Securities
Act of 1933, as amended, and the rules of the SEC pursuant
thereto.
Important Additional Information About the Business
Combination and Where to Find It
In connection with the proposed business combination between
Mars and ScanTech described herein, Pubco and Mars intend to file
relevant materials with the SEC, including a registration statement
on Form S-4, which will include a proxy
statement/prospectus/consent solicitation. Security holders and
investors are encouraged to carefully review such information,
including the risk factors and other disclosures therein. The proxy
statement/prospectus/consent solicitation will be sent to all Mars
shareholders. Pubco and Mars also will file other documents
regarding the proposed business combination with the SEC. Before
making any voting or investment decision, investors and security
holders of Mars and ScanTech are urged to read the registration
statement, the proxy statement/prospectus/consent solicitation and
all other relevant documents filed or that will be filed with the
SEC in connection with the proposed business combination as they
become available because they will contain important information
about the proposed business combination.
Investors and security holders will be able to obtain free
copies of the proxy statement/prospectus/consent solicitation and
all other relevant documents filed or that will be filed with the
SEC by Pubco or Mars by either written or oral request to Mars'
Chief Executive Officer, Karl
Brenza, at Mars Acquisition Corp., Americas Tower, 1177
Avenue of the Americas, Suite 5100, New
York, NY 10036 or by telephone at (866) 667-6277. These
documents, once available, can also be obtained, without charge, at
the SEC's website www.sec.gov.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY, NOR HAS ANY SECURITIES AUTHORITY PASSED UPON OR ENDORSED
THE MERITS OF THE PROPOSED TRANSACTIONS PURSUANT TO WHICH ANY
SECURITIES ARE TO BE OFFERED OR THE ACCURACY OR ADEQUACY OF THE
INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.
Participants in Solicitation
Pubco, Mars and ScanTech and their respective directors,
executive officers and other persons may be deemed to be
participants in the solicitation of proxies from Mars' shareholders
and the solicitation of consents from the members of ScanTech with
respect to the proposed business combination. Information about the
current directors and executive officers of Mars is set forth in
its final prospectus, dated as of February 13, 2023, and filed
with the SEC on February 14, 2023, and is available free of
charge at the SEC's website at www.sec.gov or by directing a
request to: Mars Acquisition Corp., Americas Tower, 1177 Avenue of
the Americas, Suite 5100, New York,
New York 10036. Information regarding the persons who may,
under SEC rules, be deemed participants in the solicitation of in
connection with the proposed business combination will be set forth
in Mars' and Pubco's filings with the SEC, including the proxy
statement/prospectus/consent solicitation and other relevant
materials filed with the SEC in connection with the business
combination when they become available.
Forward-Looking Statements
Certain statements in this press release may be considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and are based on beliefs
and assumptions and on information currently available to Mars and
ScanTech. In some cases, you can identify forward-looking
statements by the following words: "may," "will," "could," "would,"
"should," "expect," "intend," "plan," "anticipate," "believe,"
"estimate," "predict," "project," "potential," "continue,"
"ongoing," "target," "seek" or the negative or plural of these
words, or other similar expressions that are predictions or
indicate future events or prospects, although not all
forward-looking statements contain these words. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and ScanTech assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise.
Contact Information:
ScanTech Identification Beam Systems, LLC
Dolan Falconer
CEO
dfalconer@scantechibs.com
Visiontec Systems
Dave Corrigan
Product Specialist & Senior Tech
dcorrigan@visiontecsystems.com
Mars Acquisition Corp.
Karl Brenza
CEO and CFO
kbrenza@verizon.net
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SOURCE Mars Acquisition Corp.