Defense Technologies International Announces Restructuring
Del Mar, California--(Newsfile Corp. - March 31, 2022) - Defense Technologies International Corp. (OTC Pink: DTII) (the Company) and Passive Security Scan Inc. (the Subsidiary); innovative providers of security technology and systems with broad and diverse applications, announces a corporate restructuring of its common stock.
The Company, on March 31st, with the support of a majority of its shareholders, filed with FINRA for approval of a Reverse Split of its issued and outstanding common stock at a rate of 500:1 with an approximate effective date the first week of May upon final FINRA approval. For additional information, please see the Company's Form 8K filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1533357/000109690622000692/dtii-20220321.htm
Defense Technologies International Corporation, with its wholly owned subsidiary Passive Security Scan, Inc., assembles and markets the Passive Portal that, to our best knowledge, is the only NON-RADIATION walk-through weapons detection scanner for use at schools, universities, stadiums, hospitals, airports and other public venues.
The Company successfully installed three Passive Portals and EBT Cameras and our Marketing Director and our Eastern Seaboard Distributor are presently in contact with the parties to promote the sales and distribution of our products
The President of the Company stated, "We had no other alternative than to restructure the Company's outstanding stock to create investment opportunities for the many parties that announced interest in supporting the company based on the successful installation of our Passive Porta and EBT Camera on three difference venues with very positive feed-back from all parties. I am also pleased to announce that we are discussing further installations in other facilities with several interested parties".
About DTII and its subsidiary 'Passive Security Scan, Inc.' (PSSI)
PSSI is a private Utah Corporation and Subsidiary of Defense Technologies International Corp. Passive Security Scan Inc. was formed to bring our Passive Scanning Technology™ and our Passive Portal™ weapons and the EBT elevated temperature detection systems to the market, to improve public safety with a system specifically designed for public and private schools, sports arenas, and other public venues. The Passive Scanning Technology™ was developed in 2005 and has been continually improved upon with the newest technological advances. The 'Zero-Radiation' Passive Portal™ gateway is our newest model in production and in for the market.
Forward-Looking Statements This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are no guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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