WRAP Unveils Highly-Anticipated Next Generation BolaWrap® 150 Remote Restraint Device

TEMPE, Ariz., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the “Company” or “WRAP”) (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, announced today the release of its new BolaWrap 150 Remote Restraint device, the next generation of the previous BolaWrap 100 model. Today, more than 600 agencies in the U.S. and 44 countries have BolaWrap devices.

Tom Smith, President and CEO at WRAP, debuted the device earlier today in a live-event webcast. “We are thrilled to announce our latest innovation, the BolaWrap 150,” said Smith. “Designed by our skilled team of engineers, the new 150 model is everything that made the BolaWrap 100 an effective policing tool, with some significant technical upgrades and a brand-new look.”

The BolaWrap 150 is the latest development in the BolaWrap family of products, following the previous BolaWrap 100 device. Some notable updates in the BolaWrap 150 model include:

• The 150 is electronically deployed, rather than mechanically like its predecessor
• The 150 device cassettes are powered by microgas generators - the same technology used to power airbags - rather than the 100 device cartridge propellant of .380 blanks
• The removal of the charging handle improves officer reaction time through a simple two-step process of turning on the power switch and pressing the activation button to deploy
• The LED indicator provides an easy-to-read device state and battery life status, and the power-safe mode automatically turns the device off after five minutes of inactivity
• The battery life is increased over 10 times compared to the previous model
• The multi-dot laser design of the 150 model allows for a more uniform brightness across the array, providing easier alignment as compared to the 100 model’s line laser
• The 150 contains new duel 80 lumen LEDs that automatically illuminate when the device is powered on, freeing up an officer’s hands when responding at night
• The integrated safety caps of the 150 tether anchors lower the risk to the wrapped subject and the officer removing the tether

For a recording of today’s virtual event featuring Tom Smith and WRAP Vice President of Training, Mario Knapp, click here.

About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services. WRAP develops creative solutions to complex issues and empowers public safety officials to protect and serve their communities 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 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

Media Contact: media@wrap.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0108436-9383-40d5-83eb-9638e9011898