Pierre F. Lapeyre, Jr. Files Early Warning Report Regarding Byrna Technologies Inc.

NEW YORK CITY, April 16, 2021 /CNW/ - Pierre F. Lapeyre, Jr. today announced that he has acquired an aggregate 13,320,291 shares of Common Stock ("Common Stock") of Byrna Technologies Inc. (the "Company"), comprised of (i) 12,945,477 shares acquired on April 15, 2021 upon the conversion of 337.7081 Convertible Preferred Series A Stock of the Company (the "Preferred Stock") held by Mr. Lapeyre, together with accrued dividends, at a conversion rate of US$0.15 per share (equivalent to a conversion rate of approximately CDN$0.18795 per share, relying on the US?Canada exchange rate of 1.2530 established by the Bank of Canada on April 15, 2021), all in accordance with the Company's Certificate of Designations in in respect of the Preferred Stock, and (ii) 374,814 shares acquired upon the exercise of 374,814 common share purchase warrants of the Company (the "Warrants") held by Mr. Lapeyre at an exercise price of US$0.25 per share for an aggregate exercise price of US$93,703.50 (equivalent to an exercise price of CDN$0.3136 per share for an aggregate exercise price of US$117,541.67, relying on the US?Canada exchange rate of 1.2544 established by the Bank of Canada on April 9, 2021).

Immediately prior to the acquisition of 13,320,291 shares of Common Stock by Mr. Lapeyre, described above, Mr. Lapeyre beneficially owned and/or controlled or directed an aggregate of 15,973,985 shares of Common Stock, 337.7081 shares of Preferred Stock and 374,814 Warrants, as disclosed in a press release and associated early warning report under National Instrument 62?103 ("NI 62?103"), each dated May 28, 2020, which shareholdings represented 17.5% of the issued and outstanding shares of Common Stock, as at May 28, 2021 (as calculated in accordance with NI 62?103).  That percentage increased to 17.7% immediately prior to the acquisition due to the inclusion in this calculation of the number of shares of Common Stock that would be issued to Mr. Lapeyre upon the conversion of both the Preferred Stock and exercise of Warrants held by Mr. Lapeyre.

Immediately after the acquisition of 13,320,291 shares of Common Stock by Mr. Lapeyre upon the conversion of the Preferred Shares and exercise of the Warrants, Mr. Lapeyre beneficially owns and/or controls or directs an aggregate 28,919,462 shares of Common Stock, and no other securities of the Company, which represents approximately 14.1% of the issued and outstanding shares of Common Stock as at April 15, 2021. The decrease in Mr. Lapeyre's percentage ownership in the shares of Common Stock since May 28, 2020 is not the result of any sales of securities of the Company, but rather additional issuances of shares of Common Stock by the Company.

The acquisition of the shares of Common Stock by Mr. Lapeyre was made for investment purposes. Subject to applicable law, Mr. Lapeyre may from time to time dispose of, or acquire, additional securities of the Company.

The address of the Company is 107 Audubon Road, Bldg 2, Suite 201, Wakefield, MA 01880, United States of America. The address of Lapeyre is 712 Fifth Avenue, 36th Floor, New York, NY 10019, United States.

This press release is issued pursuant to NI 62?103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting s containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

SOURCE Pierre F. Lapeyre