Defense Technologies International Corp. continues its Debt Reduction
Enters Negotiations for Production Funding
Las Vegas, Nevada--(Newsfile Corp. - June 22, 2017) - Defense Technologies International Corp. (OTCQB: DTII) (The Company), a developer of security technologies announced today it has reduced its corporate debt by $175,182.
Further to the Debt Reduction of $500,000 as announced in March, Defense Technologies International Corp. reduced its liabilities by an additional $175,182 during the months of February 2017 to May 31, 2017.
"Defense Technologies remains committed to starting production of its Non-X-ray Scanner in the very near future. We have initiated negotiations with a Swiss Corporation, a former Lender and Shareholder, to secure future necessary production funding. We appreciate and thank all our shareholders for their support," stated Defense Technologies International Corp. CEO Merrill Moses.
As part of the financial improvements for the Company, certain related parties have agreed to retire their outstanding claims against the Company in exchange for newly issued Preferred Shares.
"The Company's current goal is to raise capital in order to start the production and marketing of its 'Passive Security Scan Portal' for use at schools, universities, and commercial buildings: added Mr. Moses.
The Company's Business - The 'Passive Security Scan'
The Company's 'Passive Security Scan' is a unique "next generation" walk-through detector scanning unit. This patented and trademarked passive scanning system allows for detecting and identifying concealed threats such as guns, knives, etc. Unlike other scanners the public is more familiar with, the Passive Security Scan does NOT use X-rays to detect threats.
Serious health concerns have been raised over the repeated exposure to X-rays from other scanning machines currently in use. The Passive Security Scan technology is based on the 'Earth Magnetic Fields' has no emission whatsoever and is therefore extremely safe and harmless to the person passing through our portal.
Our Website: http://www.defensetechnologiesintl.com/
Video of the Passive Security Scan Portal:
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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 not 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.
Defense Technologies International
Merrill W. Moses,
President & CEO
Phone: 800 520-9485