Wrap Technologies to Showcase Its BolaWrap® Solution at the Public Risk Management Association (PRIMA) Conference

TEMPE, Ariz., June 01, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies (Nasdaq: WRAP) (“Wrap” or the “Company”), a global pioneer in innovative public safety solution, today announced its participation in the Public Risk Management Association (PRIMA) Conference, taking place in Long Beach, California from June 4 to June 7, 2023.

Wrap will demonstrate its cutting-edge BolaWrap^® solution, offering a practical and effective approach to mitigating the risk of injury and reducing liability and workmen’s compensation claims for risk pools covering law enforcement agencies nationwide. This innovative, patented hand-held remote restraint device is designed in accordance with Wrap’s no-harm guiding principle to actively deter escalation. Deploying a Kevlar^® tether, BolaWrap^® enables officers to safely restrain individuals from a distance, proactively preventing escalation and reducing risk of injury to all parties involved.

Recent investigations have revealed that excessive use of force claims have cost jurisdictions over $3 billion in the past decade, with an average high-profile misconduct payout of approximately $13.5 million, according to the National Police Funding Database. Even without significant payouts, the financial impact of a single court case can reach up to $150,000.

A study funded by the National Institute of Justice found that injury rates to citizens when force was used ranged from 17% to 64%, and injury rates among officers ranged from 10% to 20%. The FBI reports that 51% of use of force incidents result in bodily injury, creating liability risks for increased citizen claims and workmen’s compensation claims for injured officers.

"We recognize the pressing need to address the risks associated with excessive use of force, which can result in both physical harm and potential legal repercussions,” Kevin Mullins, CEO of Wrap, said. “Our mission is to equip law enforcement agencies with transformative solutions that prioritize preventing escalation and minimizing the reliance on techniques that cause pain or injury. By equipping officers with effective tools like the BolaWrap^® solution, we aim to mitigate risks, enhance public safety, and reduce liability for all stakeholders involved. Our confidence in the efficacy of this solution is reflected in our guarantee of a 10% reduction in the use of force, which ultimately mitigates law enforcement liability risk.”

Wrap’s BolaWrap^® solution also includes training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST). This comprehensive training equips officers from over 900 agencies across the US and 59 countries around the world with the necessary expertise to effectively use BolaWrap^® as an early intervention measure. Ed Bantel, Program Administrator of Southwest Risk, believes “Wrap’s BolaWrap^® solution offers law enforcement agencies a significant opportunity to reduce their use of force and associated financial risks.”

As a public safety industry innovator, Wrap remains committed to pushing the boundaries and transforming law enforcement practices for the betterment of agencies and communities around the world. The PRIMA Conference serves as an ideal platform to showcase the game-changing potential of the BolaWrap^® Solution.

For more information about Wrap’s BolaWrap^® Solution please visit wrap.com.

About Wrap
Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating state-of-the-art technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships and delivers positive public safety outcomes.

Wrap's BolaWrap^® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar^® tether that safely restrains individuals from a distance. Combined with BolaWrap^® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 900 agencies across the US and 59 countries around the world, with the expertise to effectively use BolaWrap^® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes.

Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes.

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.

Forward Looking Statements
This press release contains forward-looking statements that are based on management’s current expectations. These statements may differ materially from actual future events or results due to certain risks and uncertainties, including, without limitation, risks related to product development and commercialization, regulatory approvals, market acceptance, and other risks. Wrap Technologies undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

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

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