08:51 AM EDT, 06/13/2024 (MT Newswires) -- Liberty Defense Holdings ( LDDFF ) , a technology provider of artificial intelligence-based detection services for concealed weapons and threats, said on Thursday that it will install its HEXWAVE screening systems at U.S. airports in July.

The company expects major CAT X, I, and II airports in the U.S. to require about 500 systems to meet the screening requirements. Liberty Defense ( LDDFF ) expects a continuous order flow for the next 12 months.

Separately, the company said that it has increased the size of the non-brokered private placement of special warrants to raise up to $1.5 million at $0.15 per special warrant.

Each special warrant will automatically convert into one unit of the company. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to buy one share at $0.20 per share for three years following the date of issue.

The company intends to use the proceeds to fund the production of HEXWAVE units and for general corporate and administrative purposes.

The company's shares fell 3.7% on Wednesday in Canada.