Mentioned:
A publicly traded defense tech company in Canada is buying back their own stock. But, why?
What’s happening:
- Liberty Defense (TSXV: SCAN) has announced they will buy back up to 10% of their outstanding common shares
Why it matters:
- Liberty Defense has been quickly scaling up sales of their leading edge weapons scanning hardware known as HEXWAVE, including a recent deal with a sales channel partner to expand into Brazil
Going deeper:
- Liberty Defense has also been landing highly notable defense tech talent lately, including adding the former United States Deputy Secretary of Veterans Affairs the Honourable James Byrne and former United States Assistant Secretary of Defense the Honourable Mary Beth Long to their strategic advisory board
- HEXWAVE also just recently completed operational testing at a Category X airport in the United States of America, which was conducted by an independent group who is funded by the Federal Aviation Administration to preform detailed evaluations of new security systems for American airports
