MONTREAL, Jan. 12, 2022 /CNW Telbec/ - VOTI Detection Inc.
("VOTI" or the "Company") (TSXV: VOTI), a
leading-edge Canadian technology company that develops
latest-generation X–ray security systems based on 3D Perspective™
technology, today announced its intention to issue 34,884
common shares of the Company (the "Common Shares") at a
deemed price of $0.43 per Common
Share in payment of an aggregate of $15,000 in interest owing on December 31, 2021 on the two 10.0% senior
unsecured convertible debentures of the Company which remain
outstanding (the "Debentures"). Under the terms of the
Debentures, the Company has the option to pay the interest on the
Debentures in either cash or Common Shares on the terms set forth
in the Debentures. The issuance of Common Shares in payment of
interest on the Debentures is subject to the acceptance by the TSX
Venture Exchange. The Common Shares issued in payment of interest
on the Debentures will be subject to a four month hold period.
About VOTI Detection
VOTI Detection, headquartered in Montreal, Quebec, and listed on the TSX
Venture Exchange, is a leading-edge Canadian technology company
that develops latest-generation X-ray security systems based on 3D
Perspective™ technology. VOTI's technology produces remarkably
sharp and more revealing X-ray images that are competitively
superior while delivering enhanced threat detection capabilities
and an improved user experience. Since its inception, VOTI has
installed scanners in more than 50 countries and has consulted
heavily with government agencies and security specialists worldwide
to develop feature-rich and easy-to-use scanners that meet the
sophisticated needs of modern security screening operations.
www.votidetection.com
Notice regarding forward-looking statements:
This release includes forward-looking information within the
meaning of Canadian securities laws regarding VOTI
Detection and its business. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "is expected", "expects", "scheduled", "intends",
"contemplates", "anticipates", "believes", "proposes" or variations
(including negative variations) of such words and phrases, or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Such statements
are based on the current expectations of the management of
VOTI Detection, and are based on assumptions and subject
to risks and uncertainties. Although the management of VOTI
Detection believes that the assumptions underlying these
statements are reasonable, they may prove to be incorrect. The
forward-looking events and circumstances discussed in this release
may not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the company, including risks regarding the
threat detection technology industry, failure to obtain regulatory
approvals, economic factors, management's ability to manage and to
operate the business of VOTI Detection, the equity
markets generally and risks associated with growth and competition.
Although VOTI Detection has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and VOTI Detection
does not undertake any obligation to publicly update or revise
any forward-looking statement, whether as a result of new
information, future events, or otherwise. In addition, the current
situation and future developments with respect to the COVID-19
pandemic could cause certain of the assumptions and information set
forth herein or the fact that on which such assumptions are based
to differ materially from previous expectations including in
respect of demand for our products, supply chain and availability
of materials, mobility and shipping of materials and or products,
access to debt and equity capital and other factors.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE VOTI Detection Inc.