10:16 AM EDT, 08/22/2024 (MT Newswires) -- Liberty Defense Holdings ( LDDFF ) , a provider of Artificial Intelligence-based detection solutions to protect secure locations against prohibited weapons and other threats, was edging up from near 52 week lows on Thursday as it secured a term loan and revolving credit facility totalling US$4.3 million with U.S. government funding specialist Parabilis.

A statement noted Parabilis offers government contract financing solutions to small and medium-sized contractors.

Liberty Defense ( LDDFF ) said the agreement provides immediate access to cash flow to support inventory production. It will leverage purchase orders, government contracts and accounts receivables from commercial product sales to support working capital needs.

"This agreement gives us a source of non-dilutive funding that helps us advance our commercial efforts, said Bill Frain, CEO of Liberty Defense ( LDDFF ). "The ongoing demand we are seeing for HEXWAVE in the marketplace is driving the need to manufacture more product and manage our working capital in support of sales. In addition, this program supports the significant progress on the commercialization of the High-Definition AIT upgrade kit which we intend to deploy at airports in 2025."

Liberty Defense ( LDDFF ) is up $0.01 to $0.10 on the TSX Venture Exchange.

Price: 0.10, Change: +0.01, Percent Change: +11.11