#Security Stock News:
Patriot One (TSX.V: $PAT.V ) (OTCQB: $PTOTF) Adds to Management With
Expertise from High-Tech and Custom Automation Industries and Security Sector
TORONTO, ON - January 23, 2018 (Investorideas.com
Newswire) Security Stock News_ Patriot One Technologies Inc., (TSX.V:
PAT) (OTCQB:
PTOTF) (FRANKFURT: 0PL) ("Patriot
One" or the "Company"), makers of the award-winning PATSCAN CMR™
(Cognitive Microwave Radar) concealed weapons detection system report
several new appointments and a subsequent management realignment aimed at
advancing its business policies, innovation management, and operational
activities. These efforts are part of a phased strategy in response to a
growing multi-national workforce and are aimed at streamlining enterprise focus
on value delivery.
Patriot One welcomes Mr. Robert Lex as Vice President
of Operations. Mr. Lex brings over 25 years experience in global operations and
supply chain management for the high-tech and custom automation industries. He
has a demonstrated track record of delivering on strategic goals at an
entrepreneurial pace. Previously, Mr. Lex served with Avigilon Corporation as Senior
Director, Global Strategic Sourcing improving product margins and delivering
millions in savings, while also further developing a hybrid on-shore/off-shore
optimized supply chain. He has worked with ATS Automation Tooling Systems Inc.
with responsibility for multi-million-dollar global capital projects. Before
this, he held Business Unit Director roles at Celestica and was responsible for
delivering electronic products for multiple billion-dollar OEM customers, as
well as leading successful global transformation projects during their period
of rapid growth. Mr. Lex received his MBA from York University, Schulich School
of Business (Toronto) in Finance & Marketing and his B.A.Sc. From the
University of Toronto in Mechanical Engineering. Robert is a member of the
Professional Engineers of Ontario. He also has a Masters Certificate Lean Six
Sigma – Black Belt.
Also joining the Company is Dr. Paul
Rice, Ph.D. as Vice President of Research, Radar Systems. Dr. Rice is a
technical and business orientated executive with over 15 years of international
experience working in start-up environments in the security sector. He has
completed several technology transfers from academia and government research
laboratories, taking a concept from initial prototype to production, whilst
being focused on the customer value proposition. Dr. Rice has developed and
managed effective multi-disciplinary engineering teams across different time
zones, around an agile, lean product development approach. His education
includes, PhD Microwave Engineering, University of Manchester, MEng (Hons) 2i
Electrical and Electronic Engineering with French, UMIST, ENSEEIHT Grande
Ecole.
In related news, Mr. Dinesh
Kandanchatha is transitioning from his roles as Chief Technology Officer and
Company President. He will remain as an independent Director of the Company
regarding corporate strategy, corporate development, and business
alliances; including a governance position on the audit committee. Mr.
Martin Cronin, Company CEO will assume the role and responsibilities of
President. This revised structure will help support the next phase of growth
for the business.
Further to this end, our expanded
engineering team will take on the leadership of the Company’s technology
advancement. Franco Cerantola will lead product delivery, Crispian Sinnott will
focus on cloud and software applications, Robert Lex will drive manufacturing
and strategic sourcing, and Dr. Paul Rice will focus on radar and algorithms.
This highly skilled team brings notable depth to the organization with over 50
years of combined engineering and new product development experience in the
security industry.
Martin Cronin, Patriot One President
& CEO states, “As we neared the end of 2017, we had the opportunity to
reflect on what we had achieved in a remarkably short period since our
inception just over a year ago. Given the extraordinarily positive global
response for our efforts to-date, we identified that the Company had to look
carefully at our operational structure. With the speed-to-market we have to
achieve in 2018, we need to act decisively to ensure we can manage our
projected business growth, product rollout and corporate alliances with key
partners. I am delighted that Dinesh will now be available to focus on the
bigger picture of corporate development and strategic alliances. No one has
been as dedicated and worked more tirelessly as he has since the very start of
this endeavor. It speaks volumes that his role will be replaced by a team.
While the entire Board and myself are sincerely and personally very pleased to
have his continued expertise at hand, we also are excited to welcome Robert and
Paul to our growing leadership team. 2018 will see remarkable advancements, as
we continue our efforts to rid the world of tragic and random acts of
violence.”
On Behalf of the Board,
“Martin Cronin”
Martin Cronin, President, CEO &
Director
About Patriot One Technologies, Inc. (TSX.V:PAT) (OTCQB:
PTOTF) (FRA: 0PL):
Patriot
One has developed PATSCAN CMR™ the next generation of its award-winning radar
device and software solution. PATSCAN CMR is a first-of-its-kind Cognitive
Microwave Radar concealed weapons detection system, designed as an effective
tool to combat active shooter threats before they occur. Built for
cost-effective deployment in weapon-restricted buildings and facilities, the
Patriot One software solution and related hardware can be installed in key
access points to covertly identify weapons and to alert security of an active
threat. Owner/operators of private and certain public facilities can now
prominently post anti-weapons policies with compliance assured. The Company’s
motto Deter, Detect and Defend is based on the belief that widespread use of
its technology will act as an effective deterrent, thereby diminishing the
epidemic phenomena of active shooters across the globe. For more information,
visit: www.patriot1tech.com.
Patriot One Technologies are proud winners of the 2017 Anti-Terrorism / Force
Protection category of the Security Industry Association’s New Product Showcase at ISC West.
Patriot One Inquiries
John Martin, Investor Relations
+1 (888) 728-1832
CAUTIONARY DISCLAIMER STATEMENT:
No
Securities Exchange has reviewed nor accepts responsibility for the adequacy or
accuracy of the content of this news release. This news release contains
forward-looking statements relating to product development, licensing,
commercialization and regulatory compliance issues and other statements that
are not historical facts. Forward-looking statements are often identified by
terms such as "will", "may", "should",
"anticipate", "expects”,” believes,” and similar expressions.
All statements other than statements of historical fact, included in this
release are forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such statements. Important factors that could cause actual results to differ
materially from the Company's expectations include the failure to satisfy the
conditions of the relevant securities exchange(s) and other risks detailed from
time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or circumstances
may cause actual results to differ materially from those predicted, as a result
of numerous known and unknown risks, uncertainties, and other factors, many of which
are beyond the control of the Company. The reader is cautioned not to place
undue reliance on any forward-looking information. Such information, although
considered reasonable by management at the time of preparation, may prove to be
incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news release and
the Company will update or revise publicly any of the included forward-looking
statements as expressly required by applicable law.
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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