Liberty Appoints Anjana Rajan to Strategic Advisory Board and Announces Repricing of Warrants
WILMINGTON, Mass., Sept. 09, 2025 (GLOBE NEWSWIRE) -- Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (TSXV: SCAN, OTCQB: LDDFF, FSE:E30), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to announce that Ms. Anjana Rajan, the former Assistant National Cyber Director for Technology Security at the White House and a Palantir veteran, has joined its Strategic Advisory Board (SAB). With this appointment, Liberty has completed the formation of its SAB, which will provide guidance as the Company scales its innovative security solutions in the United States and globally.
Ms. Rajan is an entrepreneur, cryptographer, and policymaker who works at the nexus of national security and human rights. As Assistant National Cyber Director for Technology Security, she led efforts to apply the President’s National Cybersecurity Strategy to real-world issues, including open-source software, generative AI, and space. She was the first Chief Technology Officer of the Polaris Project, one of the largest anti-human trafficking NGOs in the United States, and served as Chief Technology Officer of Callisto, a Y Combinator-backed, Skoll Award-winning social enterprise that builds advanced cryptographic technology to combat sexual assault.
She also served as a forward-deployed engineer at Palantir, working across Europe and the Middle East, and most notably led a high-impact deployment in the energy sector. Ms. Rajan is also a former elite triathlete who raced for Team USA at two World Championships.
“Ms. Rajan is a world-class engineer,” said Bryan Cunningham, President of Liberty Defense, who has also served at Palantir and the Polaris Project. “She has chosen to apply her talents to public service and to impactful missions for U.S. national security. We are honored that she is now sharing those skills with Liberty Defense.”
“I’m proud to join Liberty Defense’s Strategic Advisory Board,” said Ms. Rajan. “The Company’s pioneering work in next-generation detection technology shows how innovation from the private sector can deliver meaningful advances for national security.”
With this appointment, Liberty has officially launched its Strategic Advisory Board. The SAB recently held its initial meeting, and the Company looks forward to the long-term contributions of this distinguished group of leaders. For updates, news, and bios of the other Strategic Advisors, please visit www.libertydefense.com to subscribe to email alerts or follow Liberty Defense on social media.
The Company also announces that it intends to amend the exercise price of an aggregate 909,091 common share purchase warrants (the “Warrants”) issued on February 26, 2024. Each Warrant is currently exercisable to purchase one common share (a “Share”) at $2.00 and expires on February 26, 2027. The Company intends to reprice the Warrants to $0.35 per Share. All other terms of the Warrants will remain the same except that the Warrants will include an accelerated expiry provision: if, for any 10 consecutive trading days during the unexpired term, the closing price of the Shares exceeds the new exercise price by at least 25%, the exercise period will be reduced to 30 days, commencing no more than seven calendar days after the tenth such trading day. The proposed amendment remains subject to acceptance of the TSX Venture Exchange. The Company expects that no action will be required by Warrant holders to give effect to the amendment.
In addition, pursuant to the Company’s omnibus long-term incentive plan and subject to regulatory approval, Liberty granted an aggregate of 2,000,000 stock options (the “Options”) effective September 9, 2025, allocated as follows: 900,000 to directors and officers, 100,000 to an investor relations service provider, 660,000 to employees, and 340,000 to consultants. Each Option entitles the holder to acquire one common share of the Company at an exercise price of $0.265 per share, vests in four equal installments of 25% on December 9, 2025, March 9, 2026, June 9, 2026, and September 9, 2026, and will expire on September 9, 2030, subject to the terms of the Company’s omnibus long-term incentive plan and applicable securities law hold periods.
On Behalf of Liberty Defense
Bill Frain
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB: LDDFF, FSE:E30) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty's HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
For further information about Liberty, please contact:
Jay Adelaar, Senior Vice President of Capital Markets
Email: jay@libertydefense.com
Tel: 604-809-2500.
For further sales information, please contact:
Ian McNaughton
Senior Director Business development
Email: imcnaughton@libertydefense.com
Tel: 613-292-3669
FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).
Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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