MONTREAL, June 27, 2022 /CNW/ – VOTI Detection Inc. (“VOTI” or “the Company”) (TSXV: VOTI), a leading Canadian technology company that develops next-generation X-ray security systems based on 3D Perspective™ technology, today announced that, following the Company’s previous press releases in which it was announced that the Company would review its available strategic alternatives, the Company’s Board of Directors has formally initiated a process to identify, review and pursue strategic alternatives and re-engaged Stifel GMP to oversee the initiative to maximize operational efficiency and chart the most accretive path to maximize shareholder value.
Today’s announcement formalizes VOTI’s continued decision to review all available alternatives, as further detailed in the Company’s press release dated May 24, 2022. There is no guarantee as to the results of this effort.
About VOTI detection
VOTI Detection, headquartered in Montreal, Quebec, and listed on the TSX Venture Exchange, is a leading Canadian technology company that develops next-generation X-ray security systems based on 3D Perspective™ technology. VOTI’s technology produces remarkably sharp, more revealing x-ray images that outperform the competition while providing enhanced threat detection capabilities and an improved user experience. Since its inception, VOTI has installed scanners in over 50 countries and consulted extensively with government agencies and security specialists around the world to develop feature-rich, easy-to-use scanners that meet the sophisticated needs of screening operations. modern security. www.votidetection.com
Notice Regarding Forward-Looking Statements:
This release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements may relate to VOTI’s financial outlook and anticipated events or results and may include information regarding financial condition, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, plans and objectives of VOTI. In particular, information regarding VOTI’s plan to review strategic alternatives and its expectations for future results, performance, achievements, prospects or opportunities or the markets in which it operates as a result and the impact thereon of the ongoing COVID-19 pandemic declared by the World Health Organization on March 11, 2020 (“COVID-19”), as well as statements relating to expectations regarding industry trends, growth rates, revenue expectations and revenue-generating potential, business plans and strategies, including including the results of its review of strategic alternatives, VOTI’s ability to continue operating as a going concern, VOTI’s competitive position in its industry, VOTI’s expectations regarding the deployment of its line of ray scanners Next-Generation MATRIX Series X and the results associated therewith, as well as its projections and forecasts regarding its expectation of returning to meet or exceed pre-pandemic sales and gross margins are forward-looking statements.
In certain instances when used in this release, the words ”may”, ”would”, ”could”, ”will”, ”intend”, ”plan”, ”anticipate”, ”do not anticipate”, ”believe”, ”seek”, ”propose”, ”estimate”, ”project”, “expects”, “does not expect”, “forecast”, “projection”, “outlook”, “outlook”, “targets” or similar expressions, variations of these terms or the negative of these terms are intended to identify future These forward-looking statements reflect VOTI’s then-current beliefs regarding future events based on certain material facts, assumptions, opinions and estimates in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that VOTI currently believes are appropriate and reasonable in the circumstances and on the date such forward-looking statements are made. Despite a careful process of preparation and review of forward-looking statements, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Forward-looking statements are based on certain a Key expectations and assumptions made by VOTI, including expectations and assumptions regarding availability of capital resources and funding capacity, business performance, market conditions and customer demand. Although VOTI believes that the expectations and assumptions on which these forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements as no assurance can be given that they will prove to be accurate.
Forward-looking statements are necessarily based on a number of opinions, estimates and assumptions that VOTI believed to be appropriate and reasonable on the date such statements are made, are subject to certain known and unknown risks and uncertainties that may cause actual results or events to differ materially from those anticipated in these forward-looking statements, including, without limitation, risks regarding the threat detection technology industry, the inability to obtain regulatory approvals or changes in the regulatory environment, economic factors, management’s ability to manage and operate VOTI’s business, stock markets generally, and risks associated with growth and competition, in addition to other risks identified in VOTI’s most recently filed MD&A and other publicly filed documents under VOTI’s profile on www.sedar.com and other unknown risks.
Many factors could cause VOTI’s actual results, performance or achievements to differ from those described in this press release, including, without limitation, those listed above, together with the assumptions on which they are based which prove to be incorrect. These factors should not be interpreted as comprehensive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described as anticipated, planned, anticipated, believed, sought, offered, estimated or expected, and such – forward-looking statements should not be relied upon unduly.
VOTI does not intend and assumes no obligation to update these forward-looking statements, except as required by law. The forward-looking statements contained in this release are expressly qualified by these cautionary statements. Forward-looking statements contained in this press release regarding future results of operations, financial condition or cash flows are based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available. Readers are cautioned that the outlook information contained in this release should not be used for any purpose other than that for which it is disclosed here or herein, as the case may be. In addition, the current situation and future developments regarding COVID-19 could cause some of the assumptions and information set forth herein or the fact on which these assumptions are based to differ materially from previous expectations, including with respect to demand for VOTI’s products. , supply chain and availability of materials, mobility and shipment of materials and/or products, access to debt and equity capital and other factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
SOURCE VOTI Detection Inc.
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