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WRAP TECHNOLOGIES, INC.

(WRAP)
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BolaWrap« Remote Restraint Devices Approved for Sale in Italy

06/03/2021 | 01:22pm EDT

TEMPE, Ariz., June 03, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the "Company" or "WRAP") (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, announced that Italy has joined the growing list of countries that are now using and testing the BolaWrap technology.

Italy-based WRAP distributor Defconservices, led by owner Danila Maffei, has significantly contributed to the business development and sales of products and equipment into the Italian Police and Defence sector over the past 15 years and is widely respected by Homeland Security agencies across the country.

Despite COVID-19 restrictions and hampered ability to conduct face-to-face meetings, the team at Defconservices has remained resilient and relentless in its efforts and has demonstrated the BolaWrap system to several Italian Police and Defence agencies (see video link here) that have shown interest and excitement towards adopting this safe apprehension tool for police officers.

During this time, the Defconservices team has invested the time, effort, and resources towards making this project a success in Italy. We are pleased to confirm that training and use will be supported by Paolo Grandis - the first International Master Instructor certified by WRAP Training Academy. Paolo, based in Italy, attended BolaWrap Master Instructor training in Arizona in March.

“WRAP’s support and collaboration with our international distributors continues to deliver results,” said Jags Gill, VP of International Sales of WRAP. “When selecting licensed distribution partners around the world, it is vital for WRAP to engage with industry professionals who have a deep understanding of specific operational risks, threats, and duties facing various global law enforcement and military agencies. Even with the challenges from COVID, working with our in-country distributors has allowed WRAP to continue to expand our international presence despite limited travel. We look forward to continued success with Defconservices in Italy.”

About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovating public safety technologies and services that deliver advanced solutions focused on avoiding escalation. The BolaWrap® Remote Restraint device, WRAP's first product, is a patented, hand-held device that discharges a Kevlar® tether to temporarily restrain from a safe distance. Through many field uses and growing adoption by agencies worldwide, BolaWrap is proving to be an effective tool to safely detain persons without injury. WRAP Reality, the Company's virtual reality training system, is an immersive training simulator and comprehensive public safety training platform designed to empower first responders with the necessary knowledge to perform in the field. WRAP's headquarters are located in Tempe, Arizona. For more information, please visit wrap.com.

Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/
WRAP on Twitter: https://twitter.com/wraptechinc
WRAP on LinkedIn: https://www.linkedin.com/company/wraptechnologies/

Trademark Information
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company's overall business; total addressable market; and, expectations regarding future sales and expenses. Words such as "expect", "anticipate", "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce product for its customers; the Company's ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the ability to obtain export licenses for countries outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Contact:

Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9725caf8-fa31-41ff-bb1a-1e45281f7c96


Primary Logo

WRAP Italy

WRAP CEO Tom Smith with International BolaWrap Master Instructor Paolo Grandis (March 10, 2021)

ę GlobeNewswire 2021
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Financials (USD)
Sales 2021 10,2 M - -
Net income 2021 -19,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 -13,0x
Yield 2021 -
Capitalization 261 M 261 M -
Capi. / Sales 2021 25,7x
Capi. / Sales 2022 9,46x
Nbr of Employees 52
Free-Float 59,4%
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Last Close Price 6,55 $
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Managers and Directors
Thomas P. Smith President, Chief Executive Officer & Director
James A. Barnes Chief Financial Officer, Secretary & Treasurer
Patrick Kinsella Chairman
Elwood G. Norris Chief Technology Officer
Michael Parris Independent Director
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