MONTREAL, April 27, 2022 /CNW/ -
VOTI Detection Inc. ("VOTI" or the "Company")
(TSXV: VOTI) announces its intention to issue 70,703 common shares
of the Company (the "Common Shares") at a deemed price of
$0.123786 per Common Share in payment
of an aggregate of $8,752 in interest
owing on the two remaining 10.0% senior unsecured convertible
debentures of the Company which matured on April 14 and April 17,
2022 (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.