When you start Panic Mode from the button, you will be able to select a length of time to lock your phone.

Once started, your phone screen will be locked by Panic Mode, for the duration that you set. (From 10-120 minutes)

You can't do anything except make emergency calls during this time.
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To be able to make emergency calls, you will need to enable emergency calls before the first time you use Panic Mode. To do so, just click the link on the Panic Mode screen and complete the configuration.