Tag: GlobeNewswire

PWCM not subject to TVA new tariffs of approximately $1.5 million per megawatt for new and expanded data center load above the first five megawatts

Columbus Light and Water returns $300,000 deposit and requires no capital contribution from PowerCompute for the increase

TAMPA, Fla., Oct. 06, 2026 (GLOBE NEWSWIRE) — PowerCompute, Inc. (Nasdaq: PWCM) (“PowerCompute”) or the (“Company”) today announced that its subsidiary US Digital Mining Mississippi LLC executed a power contract with Columbus Light and Water (“Columbus Power”) on September 30, 2026 that increases contracted power demand at the Company’s Columbus, Mississippi site from 8.5 megawatts to 11 megawatts.

The new contract took effect on October 1, 2026 and moved the site from the Tennessee Valley Authority (“TVA”) Manufacturing Service Rate, Schedule MSB, the general industrial rate class from which TVA removed data center load to Columbus Power’s Large Data Service Rate, Schedule DCB, which is the tariff adopted to implement the TVA’s new data center rate. The Company continues to take power at the site without interruption.

Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute, said: “We proactively moved to the data center rate on our own, before October 1 ahead of the changes taking effect. Our contracted power at Columbus went from 8.5 megawatts to 11 megawatts and we were not assessed a capacity commitment charge on any of it. A company building 11 megawatts of new data center load in the TVA region today would be subject to a capacity commitment charge of approximately $1.5 million a megawatt above the first 5 megawatts. Columbus is now a better mining site today, and it means the site already carries the tariff classification any HPC facility on TVA power must have, which could not have been bought later at the same price.”

TVA’s Data Center Rate and Capacity Commitment Charge

TVA adopted the Large Data Service rate in August 2026 and removed data center load from the general industrial rate class. Data center load, as defined under the new rate, includes Bitcoin mining operations. Beginning with TVA’s fiscal year 2027, which started October 1, 2026, the Large Data Service charges approximately $1.5 million per megawatt Capacity Commitment Rider to new or expanded data center loads above the first five megawatts of contracted demand. For fiscal year 2027, there is a 2,000 megawatt cohort threshold capacity available on a first-come, first-served basis.

Under the TVA’s tariff’s Capacity Commitment Charge Rider, the power load under contract that was effective before October 1 is not subject to the new $1.5 million Capacity Commitment Charge. The Company has not been assessed a Capacity Commitment Charge on any portion of its 11 megawatts of contracted demand. Service under the new rate is available only where the major use of electricity at the delivery point is classified under 2022 NAICS subsector 518 or 519, under NAICS 522320 or 541214, or is used, in TVA’s sole judgment, for the operation of computational equipment.

Columbus Light & Water On-Peak Demand and Curtailment

The new Columbus Power rate schedule continues to price power differently during on-peak and off-peak hours. The Company curtails during on-peak hours and draws its contracted demand during the remaining hours, which lowers the demand charge component of its power cost. On-peak power remains available to the Company at the tariff’s on-peak and excess demand rates. The change to Schedule DCB did not alter the Company’s on-peak demand or its operating practice at the site.

In connection with the new contract which is effective through September 16, 2030, Columbus Power:

• Returns the Company’s $300,000 power deposit, which the Company is replacing with a utility bond.
• PowerCompute intends to apply the returned cash toward capacity buildout at Columbus.
• The Columbus site holds approximately 2,373 installed Antminer machines with total hashrate of approximately 205 PH/s as of September 30, 2026.
• No TVA capacity charge.

Richard Russell, Chief Financial Officer, said “Columbus Light and Water is returning our $300,000 deposit and we are posting a bond in its place, which puts the cash back to work in the Columbus capacity buildout rather than sitting with the utility. We added two and a half megawatts of contracted power with no capital contribution to the utility and no capacity commitment charge. Our on-peak contract demand did not change, so nothing about how we run the site had to change to get there.”

PowerCompute Sites

PowerCompute operates a 15 megawatt site in Calumet, Oklahoma and the 11 megawatt site in Columbus, Mississippi site, for total operating capacity of 26 megawatts. The Oklahoma site is not in the TVA service territory and is not affected by this contract. The Company monetizes its electrical capacity through Bitcoin mining and, at Calumet, Oklahoma through GPU compute rented on the Vast.ai marketplace.

Power, Bitcoin Mining and High-Performance (“HPC”)

PowerCompute owns 26 MW of interconnected electrical capacity: 15 MW at Calumet, Oklahoma and 11 MW at Columbus, Mississippi. Approximately 22.5 MW primarily supports Bitcoin mining, with a portion allocated to an enterprise HPC pilot program. Both locations are mining data centers developed around electrical capacity the Company owns outright.

The Company views Bitcoin mining and HPC and artificial intelligence (“AI”) applications as alternative ways to monetize its electrical infrastructure. Bitcoin mining can monetize available power immediately and can be curtailed rapidly when power sales are more economically attractive. HPC and AI workloads can potentially generate higher revenue per megawatt but require sustained uptime, additional infrastructure and customers.

Following the repayment and termination of the Bitcoin-backed credit facility announced on September 30, 2026, PowerCompute no longer pursues a leveraged Bitcoin treasury strategy. The Company intends to focus capital on acquiring and monetizing low-cost electrical infrastructure, increasing Bitcoin mining production and efficiency, and developing HPC and AI computing capacity.

About PowerCompute

PowerCompute, Inc. (Nasdaq: PWCM), formerly LM Funding America, Inc., is an owner and operator of electrical infrastructure that converts electricity into Bitcoin and high-performance computing and artificial intelligence capacity. Founded in 2008 and headquartered in Tampa, Florida, the Company operates 26 megawatts of wholly owned, interconnected electrical infrastructure across Bitcoin data center facilities in Oklahoma and Mississippi.

The Company also operates a technology-enabled specialty finance business providing funding to nonprofit community associations primarily in Florida. For more information, please visit https://www.power-compute.com.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties.

Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, the Company’s ability to maintain compliance with the continued listing requirements of The Nasdaq Stock Market, including the minimum bid price requirement; the Company’s ability to apply the returned deposit as intended; the availability, cost and timely delivery and installation of mining equipment and related infrastructure, including the effect of tariffs on imported equipment; the Company’s ability to increase active mining hash rate or realize anticipated improvements in fleet efficiency; the Company’s ability to energize remaining power capacity on anticipated timelines or at anticipated cost; the Company’s ability to repay or refinance its remaining indebtedness at or before maturity; changes in Bitcoin prices, Bitcoin network difficulty and total network hash rate; the availability and pricing of energy sales and curtailment revenue; the Company’s ability to convert owned power capacity to HPC and AI use on anticipated timelines or at anticipated cost; the Company’s ability to acquire additional electrical capacity on acceptable terms; the Company’s ability to secure customers for HPC and AI capacity; ; capacity; changes in TVA or Columbus Light and Water rate schedules, tariffs or rate classifications, including the application, amount or timing of any capacity commitment charge, and the Company’s ability to maintain its current rate classification at the Columbus site; the anticipated reduction in interest and collar-related expense following repayment of the Company’s Bitcoin-backed credit facility; the availability and cost of GPU and related infrastructure equipment; competition in the HPC and AI compute market; and other risks associated with the Company’s Bitcoin mining, HPC, AI and specialty finance businesses.

The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update such statements except as required by applicable law.

Investor and Media Contact

KCSA Strategic Communications
Philip Carlson
pwcm@kcsa.com
212-896-1233

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.

The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.

“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”

Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.

Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”

About the DeepView™ System

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.

The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors:  The Equity Group
Devin Sullivan Managing Director Devin.Sullivan@theequitygroup.com	Conor Rodriguez Associate Conor.Rodriguez@theequitygroup.com

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.

The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.

“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”

Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.

Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”

About the DeepView™ System

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.

The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors:  The Equity Group
Devin Sullivan Managing Director Devin.Sullivan@theequitygroup.com	Conor Rodriguez Associate Conor.Rodriguez@theequitygroup.com

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.

The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.

“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”

Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.

Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”

About the DeepView™ System

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.

The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors:  The Equity Group
Devin Sullivan Managing Director Devin.Sullivan@theequitygroup.com	Conor Rodriguez Associate Conor.Rodriguez@theequitygroup.com

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.

The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.

“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”

Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.

Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”

About the DeepView™ System

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.

The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors:  The Equity Group
Devin Sullivan Managing Director Devin.Sullivan@theequitygroup.com	Conor Rodriguez Associate Conor.Rodriguez@theequitygroup.com

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.

The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.

“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”

Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.

Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”

About the DeepView™ System

Spectral AI’s DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.

The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors:  The Equity Group
Devin Sullivan Managing Director Devin.Sullivan@theequitygroup.com	Conor Rodriguez Associate Conor.Rodriguez@theequitygroup.com

Selections by one of the largest state court systems in the country and a state department of corrections expand HEXWAVE’s reach across the company’s priority markets

WILMINGTON, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, today announced that HEXWAVE™ has been selected by one of the largest state court systems in the country and by a state department of corrections. The combined initial awards for four HEXWAVE’s™ will be deployed at the various sights over the next few months.

The court system will deploy HEXWAVE at an active courthouse in the first phase of a program whose results could lead to consideration at additional facilities. Court personnel, jurors and the public share one entrance, and threats now include non-metallic weapons such as ceramic knives and 3D-printed guns.

The corrections award covers three facilities under one department, including one scheduled to open in 2027 with screening built into its design. Staff, residents and visitors pass through controlled entrances, much of the contraband officers look for is not metal, and HEXWAVE screens without physical contact.

Both selections follow Liberty’s September 16 announcement of a multi-site agreement with a third-party logistics, warehousing and manufacturing provider, which marked the company’s entry into commercial loss prevention. Together they add to a footprint that already spans aviation, government buildings, courthouses, correctional facilities and commercial venues, including nine airports for aviation worker screening. HEXWAVE is deployed at approximately 20 sites in five countries, with more than 40 units in the field.

“Courts, corrections and loss prevention each have their own reason to screen,” said Bill Frain, CEO of Liberty Defense. “A courthouse is focused on public safety, a corrections department on contraband and a distribution operation on inventory loss, and HEXWAVE fits all three entrances. Every selection gives us a model for similar operators. These recent announcements align with our market vertical focus of protecting people and assets for aviation worker screening, courthouses, correctional facilities and loss prevention.”

HEXWAVE detects metallic and non-metallic threats and contraband concealed on people, including liquids, powders and vapes, using millimeter wave technology and AI-based automatic threat detection. The operator sees a generic body outline marking where an item was detected, and HEXWAVE stores no images or personal information. It is designed as one layer of a site’s security program.

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security in public places. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because Liberty can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information, including those appearing in Liberty’s public filings. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; general development, market and industry conditions; and other factors described in Liberty’s public filings. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.

Selections by one of the largest state court systems in the country and a state department of corrections expand HEXWAVE’s reach across the company’s priority markets

WILMINGTON, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, today announced that HEXWAVE™ has been selected by one of the largest state court systems in the country and by a state department of corrections. The combined initial awards for four HEXWAVE’s™ will be deployed at the various sights over the next few months.

The court system will deploy HEXWAVE at an active courthouse in the first phase of a program whose results could lead to consideration at additional facilities. Court personnel, jurors and the public share one entrance, and threats now include non-metallic weapons such as ceramic knives and 3D-printed guns.

The corrections award covers three facilities under one department, including one scheduled to open in 2027 with screening built into its design. Staff, residents and visitors pass through controlled entrances, much of the contraband officers look for is not metal, and HEXWAVE screens without physical contact.

Both selections follow Liberty’s September 16 announcement of a multi-site agreement with a third-party logistics, warehousing and manufacturing provider, which marked the company’s entry into commercial loss prevention. Together they add to a footprint that already spans aviation, government buildings, courthouses, correctional facilities and commercial venues, including nine airports for aviation worker screening. HEXWAVE is deployed at approximately 20 sites in five countries, with more than 40 units in the field.

“Courts, corrections and loss prevention each have their own reason to screen,” said Bill Frain, CEO of Liberty Defense. “A courthouse is focused on public safety, a corrections department on contraband and a distribution operation on inventory loss, and HEXWAVE fits all three entrances. Every selection gives us a model for similar operators. These recent announcements align with our market vertical focus of protecting people and assets for aviation worker screening, courthouses, correctional facilities and loss prevention.”

HEXWAVE detects metallic and non-metallic threats and contraband concealed on people, including liquids, powders and vapes, using millimeter wave technology and AI-based automatic threat detection. The operator sees a generic body outline marking where an item was detected, and HEXWAVE stores no images or personal information. It is designed as one layer of a site’s security program.

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security in public places. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because Liberty can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information, including those appearing in Liberty’s public filings. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; general development, market and industry conditions; and other factors described in Liberty’s public filings. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.

Selections by one of the largest state court systems in the country and a state department of corrections expand HEXWAVE’s reach across the company’s priority markets

WILMINGTON, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, today announced that HEXWAVE™ has been selected by one of the largest state court systems in the country and by a state department of corrections. The combined initial awards for four HEXWAVE’s™ will be deployed at the various sights over the next few months.

The court system will deploy HEXWAVE at an active courthouse in the first phase of a program whose results could lead to consideration at additional facilities. Court personnel, jurors and the public share one entrance, and threats now include non-metallic weapons such as ceramic knives and 3D-printed guns.

The corrections award covers three facilities under one department, including one scheduled to open in 2027 with screening built into its design. Staff, residents and visitors pass through controlled entrances, much of the contraband officers look for is not metal, and HEXWAVE screens without physical contact.

Both selections follow Liberty’s September 16 announcement of a multi-site agreement with a third-party logistics, warehousing and manufacturing provider, which marked the company’s entry into commercial loss prevention. Together they add to a footprint that already spans aviation, government buildings, courthouses, correctional facilities and commercial venues, including nine airports for aviation worker screening. HEXWAVE is deployed at approximately 20 sites in five countries, with more than 40 units in the field.

“Courts, corrections and loss prevention each have their own reason to screen,” said Bill Frain, CEO of Liberty Defense. “A courthouse is focused on public safety, a corrections department on contraband and a distribution operation on inventory loss, and HEXWAVE fits all three entrances. Every selection gives us a model for similar operators. These recent announcements align with our market vertical focus of protecting people and assets for aviation worker screening, courthouses, correctional facilities and loss prevention.”

HEXWAVE detects metallic and non-metallic threats and contraband concealed on people, including liquids, powders and vapes, using millimeter wave technology and AI-based automatic threat detection. The operator sees a generic body outline marking where an item was detected, and HEXWAVE stores no images or personal information. It is designed as one layer of a site’s security program.

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security in public places. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because Liberty can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information, including those appearing in Liberty’s public filings. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; general development, market and industry conditions; and other factors described in Liberty’s public filings. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.

Selections by one of the largest state court systems in the country and a state department of corrections expand HEXWAVE’s reach across the company’s priority markets

WILMINGTON, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, today announced that HEXWAVE™ has been selected by one of the largest state court systems in the country and by a state department of corrections. The combined initial awards for four HEXWAVE’s™ will be deployed at the various sights over the next few months.

The court system will deploy HEXWAVE at an active courthouse in the first phase of a program whose results could lead to consideration at additional facilities. Court personnel, jurors and the public share one entrance, and threats now include non-metallic weapons such as ceramic knives and 3D-printed guns.

The corrections award covers three facilities under one department, including one scheduled to open in 2027 with screening built into its design. Staff, residents and visitors pass through controlled entrances, much of the contraband officers look for is not metal, and HEXWAVE screens without physical contact.

Both selections follow Liberty’s September 16 announcement of a multi-site agreement with a third-party logistics, warehousing and manufacturing provider, which marked the company’s entry into commercial loss prevention. Together they add to a footprint that already spans aviation, government buildings, courthouses, correctional facilities and commercial venues, including nine airports for aviation worker screening. HEXWAVE is deployed at approximately 20 sites in five countries, with more than 40 units in the field.

“Courts, corrections and loss prevention each have their own reason to screen,” said Bill Frain, CEO of Liberty Defense. “A courthouse is focused on public safety, a corrections department on contraband and a distribution operation on inventory loss, and HEXWAVE fits all three entrances. Every selection gives us a model for similar operators. These recent announcements align with our market vertical focus of protecting people and assets for aviation worker screening, courthouses, correctional facilities and loss prevention.”

HEXWAVE detects metallic and non-metallic threats and contraband concealed on people, including liquids, powders and vapes, using millimeter wave technology and AI-based automatic threat detection. The operator sees a generic body outline marking where an item was detected, and HEXWAVE stores no images or personal information. It is designed as one layer of a site’s security program.

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security in public places. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because Liberty can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information, including those appearing in Liberty’s public filings. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; general development, market and industry conditions; and other factors described in Liberty’s public filings. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.