Xtract One Technologies Inc (XTRAF)

[UCParadise]

Final Prospectus is out on Sedar

The Company’s intended objectives moving forward will focus primarily on execution of commercialization of CMR-1 and the integration of additional sensor innovations on a common multi-sensor threat detection platform. The Company is currently looking at a number of transactions relating to this strategy. The Company plans to embark on joint research and development on a multi-year program with the international defence contractor referred to above. This work may also include the integration of that defence contractor’s technology. The Company also plans to be focused on production, supply chain management and inventory, as well as significant overseas market development.
There have been and will continue to be technical hurdles as the CMR-1 technology is a new technology and is dependent on complex mathematical and physics equations. The net proceeds from the 2017 Bought Deal Financing and the 2018 Bought Deal Financing have allowed the Company to move ahead on tackling these challenges, some more quickly than others, and there are dependencies between streams of work which has caused unforeseen delays to the timelines set out in the 2017 Bought Deal Financing and the 2018 Bought Deal Financing. Particular progress has been made on CMR-1 hardware configuration (i.e., with the Company’s 6th generation antenna) which has resulted in an advancement in performance and has allowed the Company to look to early stage pilot deployments of the CMR-1. Also, the Company is in the final stages of documentation for submission for relevant government approval with respect to its agreement in principle with the international defence contractor (see “Recent Developments”). If approved, this will be a significant milestone in unlocking a substantial multi-year co-funded innovation pipeline

https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00032084&issuerType=03&projectNo=02837441&docId=4420212