This new public safety infrastructure developed by First Responder, and powered in the future by Airbeam's 60GHz chipset, may then be utilized as "edge networking nodes" as 5G networks densify, which can offer wireless backhaul, edge computing and networking capabilities to overcome anticipated bottlenecks in the current infrastructure.
The combination of Airbeam's 60GHz millimeter wave (" MMW ") chipset, and Smart City networking hardware and services, together with First Responder's innovative AI-enabled weapons detection camera and Wi-Fi-based concealed weapons technology, may create a new capability in the public safety and security segment, an important and fast emerging segment of the Smart City vertical.
The Acquisition proposes to create a Canada -based leader in this important sector, with privacy at the core of the Resulting Issuer's approach to product development.Īs a result of the Acquisition, the Resulting Issuer is expected to develop and sell a complete Canadian-owned technology solution – chip, hardware, software and services – that could reduce Canadian dependence on foreign-owned 5G networking hardware and software. Over the past decade, governments, privacy commissioners and industry have been working together to develop a roadmap to realize the potential of 5G for the development of Smart Cities in North America, and around the world. Upon successful completion of the Acquisition, it is anticipated that the resulting entity (the " Resulting Issuer ") will continue the combined businesses of Airbeam and First Responder under a name to be determined by the parties.Ĭreating a Canadian National Leader in Emerging 5G-Edge Enabled Smart City Technologies The Acquisition is an arm's length transaction.
The Acquisition is expected to be structured as a reverse takeover and will constitute a "fundamental change" for the Company pursuant to the rules and policies of the Canadian Securities Exchange (the " Exchange "). (" Airbeam ") in exchange for common shares in the capital of the Company (the " First Responder Shares "). ("First Responder" or the "Company") (CSE: WPN) (OTCQB: WPNNF) (FWB: 3WK), a leading developer of public safety and security technologies, is pleased to announce that it has entered into a letter of intent dated Novem(the " LOI "), which sets out the basic terms and conditions for the acquisition (the " Acquisition ") by the Company of all of the issued and outstanding common shares in the capital of Airbeam Wireless Technologies Inc. 30, 2020 /CNW/ - First Responder Technologies Inc. Proposed Entity to Build Innovative Technology Stack for Smart Cities Homegrown Canadian Disruptor Enters 5G-Edge Technology Race news wire services or dissemination in the United States /