Item 8.01Other Events.

Defense Technologies announces that on March 7, 2023, it finalized a Teaming and Branded Distribution Services Agreement (the "Agreement") with Williams-Sterling, Inc., located in Winchester, Virginia ("WSI"). WSI is a minority/service disabled veteran-owned and certified business enterprise providing complimentary business lines to government and industry for clients in the federal marketplace. Pursuant to Executive Order secured by Public Law, heads of government agencies are required to significantly increase the number of prime contracts and subcontracts awarded to Service Disabled Veteran-Owned Small Businesses ("SDVOSB"), and directs Federal agencies to develop strategies for implementing the policies set forth in the Order. The Executive Order emphasizes the need to significantly increase the number of prime contracts and subcontracts awarded to SDVOSB's.

WSI is a Department of Veterans Affairs approved Certified Veteran Owned Enterprise. As a certified SDVOSB, WSI has established distribution and pricing agreements and other manufacturing partnerships, to provide fair and reasonable pricing for commercial off-the-shelf specific solutions to the Department of Veterans Affairs and other eligible federal customers and end users.

Under the terms of the Agreement, Defense Technologies and WSI will work together to identify opportunities where, WSI's Service-Disabled Veteran Owned (SDVOSB) status and DTII's "Passive Portal Process" can be joined to target certain off-the-shelf item awards issued by the Federal Government, or solicitations/contracts/purchase orders contracting opportunities, specifically managed through any weapons detection scanning designated Prime Vendor/Program Office. Defense Technologies products covered by the Agreement include the Passive Portal Walk-through Weapons Detection System and EBT Station, and other products manufactured by or for DTII and/or bearing a DTII owned trademark that will be distributed directly to a Government Agency, or its specifically identified program by WSI.

Additionally, DTII appoints WSI for weapons detection opportunities expressly identified with Federal Agencies as a worldwide non-exclusive SDVOSB distributor of Defense Technologies products. Under the Agreement, WSI is not prohibited from using, selling, manufacturing, or promoting products which are competitive with DTII products, and WSI has no volume commitments or purchase requirements, nor marketing or promotional obligations of any kind. Under its terms, either party may terminate the Agreement, without cause, upon ninety (90) days written notice.

Cautionary Note About Forward-looking Statements

Statements contained in this current report which are not historical facts, may be considered "forward-looking statements," which term is defined by the Private Securities Litigation Reform Act of 1995. Any "safe harbor under this Act does not apply to a "penny stock" issuer, which definition would include the company. Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.


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