Royal Canadian Mounted Police (RCMP) Classification of WRAP’s BolaWrap® Device Expected to Broaden Sales in Canada
August 23 2021 - 12:34PM
Wrap Technologies, Inc. (the “Company” or “WRAP”) (Nasdaq:
WRAP), a global leader in innovative public safety
technologies and services, along with its BolaWrap distributor in
Canada, TRAPT Technologies Canada Inc., today announced the RCMP
completed a comprehensive product inspection of the BolaWrap 100
remote restraint device. The RCMP released an August 2021 report
exempting product sales from being classified as a prohibited
device or firearm per Section 84(3) of the Canadian Criminal Code.
Firearms and prohibited devices that are not exempt are subject to
stringent sale regulations and limitations even to law enforcement.
“We are excited that Canadian Police Officers can now more
easily access an appropriate de-escalation tool that does not rely
on pain compliance and is specifically designed to decrease the
potential for injury of a subject, bystanders, and Officers,” said
Michael Harvey, President and Chief Technology Officer of TRAPT
Technologies Canada. “Even though the BolaWrap is not classified as
a prohibited device or restricted firearm, our focus is on training
Canadian Police Services and sworn Peace Officers on the
professional use of the BolaWrap 100.”“This classification of the
BolaWrap 100 by the RCMP eases and expands the market for BolaWrap
100 in Canada and recognizes this device for what it is – an
apprehension tool,” said Tom Smith, President and CEO of WRAP.
“Many U.S. agencies do not consider BolaWrap a use of force, and
use of force experts in the United Kingdom place the BolaWrap lower
on the Use-of-Force Continuum than handcuffs. We are pleased to see
that Canadian Officers now have broad access to the only device
designed to provide them with time to safely de-escalate a
challenging situations without inflicting pain while providing
needed support for individuals in crisis.”About
WRAPWRAP Technologies (Nasdaq: WRAP) is a global leader in
innovative public safety technologies and services. WRAP develops
creative solutions to complex issues and empowers public safety
officials to protect and serve their communities through its
portfolio of advanced technology and training
solutions. WRAP’s BolaWrap® Remote Restraint device is a
patented, hand-held pre-escalation and apprehension tool that
discharges a Kevlar® tether to temporarily restrain uncooperative
suspects and persons in crisis from a distance. Through its many
field uses and growing adoption by agencies across the globe,
BolaWrap is proving to be an effective tool to help law enforcement
safely detain persons without injury or the need to use higher
levels of force. Wrap Reality, the Company’s virtual reality
training system, is a fully immersive training simulator and
comprehensive public safety training platform providing first
responders with the discipline and practice in methods of
de-escalation, conflict resolution, and use-of-force to better
perform in the field. WRAP’s headquarters are in Tempe, Arizona.
For more information, please visit wrap.com.Follow WRAP
here:WRAP on Facebook:
https://www.facebook.com/wraptechnologies/WRAP on Twitter:
https://twitter.com/wraptechincWRAP on LinkedIn:
https://www.linkedin.com/company/wraptechnologies/in Canada TRAPT
Technologies Canada www.traptca.comTrademark
InformationBolaWrap, Wrap and Wrap Reality are trademarks
of Wrap Technologies, Inc. All other trade names used herein are
either trademarks or registered trademarks of the respective
holders.
Cautionary Note on Forward-Looking
Statements - Safe Harbor StatementThis press release
contains "forward-looking statements" within the meaning of the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, including but not limited to: statements
regarding the Company's overall business; total addressable market;
and, expectations regarding future sales and expenses. Words such
as "expect", "anticipate", "should", "believe", "target",
"project", "goals", "estimate", "potential", "predict", "may",
"will", "could", "intend", and variations of these terms or the
negative of these terms and similar expressions are intended to
identify these forward-looking statements. Moreover,
forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company's control. The Company's actual results
could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to: the Company's ability to successfully implement
training programs for the use of its products; the Company's
ability to manufacture and produce product for its customers; the
Company's ability to develop sales for its new product solution;
the acceptance of existing and future products; the availability of
funding to continue to finance operations; the complexity, expense
and time associated with sales to law enforcement and government
entities; the lengthy evaluation and sales cycle for the Company's
product solution; product defects; litigation risks from alleged
product-related injuries; risks of government regulations; the
business impact of health crises or outbreaks of disease, such as
epidemics or pandemics; the ability to obtain export licenses for
countries outside of the US; the ability to obtain patents and
defend IP against competitors; the impact of competitive products
and solutions; and the Company's ability to maintain and enhance
its brand, as well as other risk factors mentioned in the Company's
most recent annual report on Form 10-K, quarterly report on Form
10-Q, and other SEC filings. These forward-looking statements are
made as of the date of this press release and were based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management. Except as required by law,
the Company undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events or changes in its
expectations.Contact:Paul M. ManleyVP – Investor
Relations(612) 834-1804pmanley@wrap.com Media
Contact: media@wrap.com
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