Wrap Technologies Announces Full Deployment of BolaWrap 150® Remote Restraint Devices Across Montgomery County, Texas

TEMPE, Ariz., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) (“WRAP” or the “Company”), a global leader in innovative public safety technologies and services, today announced the full deployment of BolaWrap 150® remote restraint devices covering multiple law enforcement agencies in Montgomery County, Texas. The sale was funded through a grant awarded by the Court of Commissioners of Montgomery County. The agencies that will be fully equipped are the Montgomery County Sheriff’s Office, all five Montgomery County Constable Offices, and the Montgomery County Fire Marshal’s Office.

“This county-wide large-scale deployment of BolaWrap 150 demonstrates a strong commitment from Montgomery County, Texas to keep officers and communities safe,” said Kevin Mullins, President of WRAP. “Law enforcement agencies worldwide, including the hardworking men and women of Montgomery County are recognizing the value of our innovative, de-escalation technologies. We would like to thank the Court of Commissioners of Montgomery County for their support of WRAP and our mission to save lives.” 

Montgomery County Sheriff Rand Henderson added, “After participating in demonstrations for WRAP products, our department leadership recognized the immense value these de-escalation programs can provide in leading to life-saving outcomes, especially for individuals in mental crisis. We believe the BolaWrap 150 is an essential tool for enabling our deputies to carry out safer policing and we are looking forward to a rapid deployment over the coming weeks. We appreciate the support of the Montgomery County Commissioner’s Court in making this deployment possible.”  

BolaWrap 150® enables police officers to take individuals safely into custody without having to use force or pain, keeping subjects and officers safer. Unlike other restraint devices currently available, BolaWrap 150® can subdue a subject from a distance without using pain compliance. 

About Wrap
Wrap Technologies, Inc. (Nasdaq: WRAP) is a global public safety technology and services company that delivers modern policing solutions to law enforcement and security personnel through its portfolio of advanced technology and training solutions. 

Wrap’s BolaWrap® Remote Restraint device is a patented, hand-held pre-escalation and apprehension tool that discharges a Kevlar® tether to temporarily restrain uncooperative suspects and persons in crisis from a distance. Through its many field uses and growing adoption by agencies across the globe, BolaWrap is proving to be an effective tool to help law enforcement safely detain persons without injury or the need to use higher levels of force.

Wrap Reality, the Company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform providing first responders with the discipline and practice in methods of de-escalation, conflict resolution, and use-of-force to better perform in the field.

Wrap’s headquarters are in Tempe, Arizona. For more information, please visit wrap.com.

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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 successful 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 impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties 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.

Investor Contact:
Matt Glover and Tom Colton
Gateway Group, Inc.
949-574-3860
WRAP@gatewayir.com

Media Relations Contact:
Robert Collins and Zachary Kadletz
Gateway Group, Inc.
949-574-3860
WRAP@gatewayir.com

Released January 11, 2023