EX-99.1
26
ex99-1.htm
Exhibit 99.1
VirTra
Scales Manufacturing Capabilities with Purchase of Industrial Building in Chandler, Arizona
Building
will Serve as Company's New Headquarters Starting in 2022
TEMPE,
Ariz. - August 30, 2021 -
VirTra, Inc
. (NASDAQ: VTSI) ("VirTra"),
a global provider of training simulators
for the law enforcement, military, educational and commercial markets, has acquired a property in Chandler, Arizona that consists of
approximately 4.3 acres and an industrial building with approximately 76,650 square feet. VirTra acquired the property for $10.8 million,
with $8.6 million being financed through a mortgage loan and the remainder being paid in cash.
The
property gives VirTra a larger and more centralized facility to meet the anticipated growth in training simulator development and production,
recoil kit development and production, training content creation and administrative functions. VirTra also expects the new building will
provide greater operational efficiencies than its existing two leased locations in Tempe, Arizona with approximately 42,860 square feet
in aggregate. VirTra plans to fully move into the new space within nine months or less and plans to sub-lease its current leased spaces
once it has moved out.
"As
demand for VirTra's world-class training simulators in the law enforcement and military markets grows, it is critical that we scale
our manufacturing and production capacity to meet not only the burgeoning demand today but the potential growth in the future as well,"
said Chairman and Chief Executive Officer Bob Ferris. "This will be a state-of-the-art headquarters where we push the envelope
of effective simulation training products for the benefit of our customers and stakeholders. The property will also allow us to centralize
our operations and ultimately provide greater efficiencies across our entire organization".
Additional
details regarding the transaction are available in the company's current report on Form 8-K, which has been filed with the U.S.
Securities and Exchange Commission.
About
VirTra
VirTra
(NASDAQ: VTSI) is a global provider of judgmental use of force training simulators, firearms training simulators and driving simulators
for the law enforcement, military, educational and commercial markets. The company's patented technologies, software, and scenarios
provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations.
VirTra's mission is to save and improve lives worldwide through practical and highly effective virtual reality and simulator technology.
Learn more about the company at
www.VirTra.com
.
Forward-Looking
Statements
The
information in this discussion contains forward-looking statements and information within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor"
created by those sections. The words "anticipates", "believes", "estimates", "expects,"
"intends", "may", "plans", "projects", "will", "should", "could,"
"predicts", "potential", "continue", "would" and similar expressions are intended to
identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually
achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on
our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed
in the forward-looking statements that we make. The forward-looking statements are applicable only as of the date on which they are made,
and we do not assume any obligation to update any forward-looking statements. All forward-looking statements in this document are made
based on our current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could
cause results or events to differ materially from those expressed in the forward-looking statements. In evaluating these statements,
you should specifically consider various factors, uncertainties and risks that could affect our future results or operations. These factors,
uncertainties and risks may cause our actual results to differ materially from any forward-looking statement set forth in the reports
we file with or furnish to the Securities and Exchange Commission (the "SEC"). You should carefully consider these risk and
uncertainties described and other information contained in the reports we file with or furnish to the SEC before making any investment
decision with respect to our securities. All forward-looking statements attributable to us or persons acting on our behalf are expressly
qualified in their entirety by this cautionary statement.
Investor
Relations Contact:
Matt
Glover
Gateway
Group, Inc.
VTSI@gatewayir.com
949-574-3860

EX - 99 . 1 26 ex99 - 1 . htm Exhibit 99 . 1 VirTra Scales Manufacturing Capabilities with Purchase of Industrial Building in Chandler , Arizona Building will Serve as Company 's New Headquarters Starting in 2022 TEMPE , Ariz . - August 30 , 2021 - VirTra , Inc . ( NASDAQ : VTSI ) ( " VirTra " ) , a global provider of training simulators for the law enforcement , military , educational and commercial markets , has acquired a property in Chandler , Arizona that consists of approximately 4.3 acres and an industrial building with approximately 76,650 square feet . VirTra acquired the property for $ 10.8 million , with $ 8.6 million being financed through a mortgage loan and the remainder being paid in cash . The property gives VirTra a larger and more centralized facility to meet the anticipated growth in training simulator development and production , recoil kit development and production , training content creation and administrative functions . VirTra also expects the new building will provide greater operational efficiencies than its existing two leased locations in Tempe , Arizona with approximately 42,860 square feet in aggregate . VirTra plans to fully move into the new space within nine months or less and plans to sub - lease its current leased spaces once it has moved out . " As demand for VirTra 's world - class training simulators in the law enforcement and military markets grows , it is critical that we scale our manufacturing and production capacity to meet not only the burgeoning demand today but the potential growth in the future as well , " said Chairman and Chief Executive Officer Bob Ferris . " This will be a state - of - the - art headquarters where we push the envelope of effective simulation training products for the benefit of our customers and stakeholders . The property will also allow us to centralize our operations and ultimately provide greater efficiencies across our entire organization " . Additional details regarding the transaction are available in the company 's current report on Form 8 - K , which has been filed with the U . S . Securities and Exchange Commission . About VirTra VirTra ( NASDAQ : VTSI ) is a global provider of judgmental use of force training simulators , firearms training simulators and driving simulators for the law enforcement , military , educational and commercial markets . The company 's patented technologies , software , and scenarios provide intense training for de - escalation , judgmental use - of - force , marksmanship , and related training that mimics real - world situations . VirTra 's mission is to save and improve lives worldwide through practical and highly effective virtual reality and simulator technology . Learn more about the company at www.VirTra.com . Forward - Looking Statements The information in this discussion contains forward - looking statements and information within the meaning of Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended , which are subject to the " safe harbor " created by those sections . The words " anticipates " , " believes " , " estimates " , " expects , " " intends " , " may " , " plans " , " projects " , " will " , " should " , " could , " " predicts " , " potential " , " continue " , " would " and similar expressions are intended to identify forward - looking statements , although not all forward - looking statements contain these identifying words . We may not actually achieve the plans , intentions or expectations disclosed in our forward - looking statements and you should not place undue reliance on our forward - looking statements . Actual results or events could differ materially from the plans , intentions and expectations disclosed in the forward - looking statements that we make . The forward - looking statements are applicable only as of the date on which they are made , and we do not assume any obligation to update any forward - looking statements . All forward - looking statements in this document are made based on our current expectations , forecasts , estimates and assumptions , and involve risks , uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward - looking statements . In evaluating these statements , you should specifically consider various factors , uncertainties and risks that could affect our future results or operations . These factors , uncertainties and risks may cause our actual results to differ materially from any forward - looking statement set forth in the reports we file with or furnish to the Securities and Exchange Commission ( the " SEC " ) . You should carefully consider these risk and uncertainties described and other information contained in the reports we file with or furnish to the SEC before making any investment decision with respect to our securities . All forward - looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement . Investor Relations Contact : Matt Glover Gateway Group , Inc . VTSI@gatewayir.com 949 - 574 - 3860
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