Xtract One Technologies Inc. Files Final Base Shelf Prospectus

TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRANKFURT: 0PL) (“Xtract One” or the “Company”) today announced that it has filed a final short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada, with the exception of Québec.

The base shelf prospectus (the “Shelf Prospectus”) allows Xtract One to offer and issue up to $50 million of common shares, warrants, subscription receipts, units, debt securities, or any combination of such securities (collectively, the “Securities”) during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together in amounts, at prices and on terms to be determined based on market conditions at the time of sale, which will be set forth in a prospectus supplement to be filed.

The Company is filing this Shelf Prospectus to maintain financial flexibility as it advances its business but has no immediate intentions to undertake an offering.

The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Shelf Prospectus is available on SEDAR+ (www.sedarplus.ca).

About Xtract One

Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive threat detection systems that enable venue building operators to prioritize and deliver improved patron experiences while providing unprecedented safety. Xtract One’s innovative Gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based software allows venue and building operators to identify weapons and other threats inside and outside of facilities and receive valuable intelligence for optimizing operations. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn.