Airbeam Announces Termination of Amalgamation Agreement

Vancouver, British Columbia--(Newsfile Corp. - March 13, 2021) - Airbeam Wireless Technologies Inc. ("Airbeam"), a leading innovator in 5G Edge technologies to enable Smart Cities, announced today the termination of the previously announced Amalgamation Agreement with First Responder Technologies Inc. ("First Responder"). Airbeam is now working on an alternative go-public transaction and will provide details to Airbeam shareholders soon.

Airbeam wishes First Responder, its highly dedicated management, and shareholders well going forward.

On behalf of the Board of Directors,
Dr. Yan Zhang, Director

About Airbeam

Airbeam is a private company existing under the laws of British Columbia and is based in Richmond, British Columbia.

Airbeam is a developer of 5G Edge technologies to enable Smart Cities. The company sells a proprietary 60 GHz millimeter wave chipset, hardware, and software that power its Edge Computing Network (ECU). Airbeam acquired its technology from a leading semiconductor company, which spent in excess of $110 million USD on R&D.

For further information, please contact:

Dr. Yan Zhang
yan.zhang@airbeamtech.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release may constitute forward‐looking information, including statements relating to future go-public plans for Airbeam. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of Airbeam or the resulting entity could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company and Airbeam operate, prevailing economic conditions, changes to the Airbeam's strategic growth plans, and other factors, many of which are beyond the control of Airbeam. Airbeam believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents Airbeam's expectations as of the date hereof, and is subject to change after such date. Airbeam disclaim any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

No securities regulatory authority has either approved or disapproved of the contents of this news release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77136