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Thursday, August 04, 2016 12:02:27 PM
DTII Finalizes Debt Consolidation, Begins Scanner Unit Assembly
Last Updated: August 04, 2016 10:40 AM EST
(NEW YORK) – Defense Technologies International Corp (OTCQB:DTII) (The Company), a developer of security technologies, announces the completion of debt restructuring and consolidation, begins assembly of scanner units.
On August 01, 2016, the Company closed agreements to buy-out and restructure the third convertible note holders (St. Georges of Chicago Ventures) holding an aggregate of $41,000 in convertible debt. This represents the final tranche of restructuring and consolidation of the Company's convertible debt, which should provide increased market stability from any
conversions into the market.
Assembly Production Begins
The Company has begun fabrication and frame assembly for its first 20 scanner units, and anticipates providing further details on upcoming plans for production and distribution in the very near future.
Photos of the new scanner unit frames are expected to be posted on their official Facebook page shortly at https://www.facebook.com/DefenseTechnologiesInternationalCorp
The Company’s 'Offender Alert Passive Scan™' is a 'next generation' walk-through detector scanning unit. Its special value comes from its passive and emits nothing through the subjects, while security scanner systems currently in utilization effectively use X-ray in some form. This patented and trademarked passive scanning system allows for detecting and identifying concealed threats, such as guns and knives etc, while offering no X-ray exposure to subjects scanned by the system.
Merrill W. Moses the CEO of Defense Technologies International Corp. commented, ”We are pleased to announce the completion of consolidation of our convertible debt as this now clears the way to put our full focus on the area of production and distribution. As mentioned before, recent mass shooting headlines highlight the need for increased venue security, which has drawn attention to our technology.”
As of July 29, 2016, the Company had approximately 24,474,056 common shares issued and outstanding, and was traded on the OTCQB exchange under the ticker symbol “DTII”.
About Defense Technologies International Corp.
Defense Technologies International Corp (OTCQB:DTII) core ideology is to provide superior solutions for today’s new world risks and threats. DTC is positioned to enter the, until now, untapped public school market segment for threat detection security. DTC has assembled a respected team of experts with decades of experience sharing a common vision of safety, quality, service and shareholder value. Team members bring to bear a broad spectrum of executive, international and corporate experience, coupled with extensive diplomatic relationships both at home and abroad. www.defensetechnologiesintl.com
http://www.wallstreetnewscast.com/profile/dtii.html
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