Defense Stock
News: Patriot One (TSX.V: $PAT) (OTCQB:
$PTOTF) Announces Canadian Research
Partnership Grant to Advance Concealed Weapons Detection PATSCAN™ 2.0
NSERC’s Idea to Innovation grant supports technological
evolution
TORONTO, ON– April 13, 2017) – (Investorideas.com Newswire) Patriot
One Technologies Inc., (TSX.V:
PAT) (OTCQB:
PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the
“Company”), developer of a revolutionary concealed weapons detection system, advises
today that its university research partner was awarded CAD$161,321 from the
Natural Sciences and Engineering Research Council’s (NSERC) Idea to Innovation
Phase II Grant, which will help to advance and further evolve its Intellectual
Property (IP) portfolio.
NSERC’s grant,
along with cash and in-kind contributions from Patriot One, creating a total
project value of almost CAD$355,000, will assist in propelling the Company towards
new products and solutions for the detection of concealed weapons. Proposed
advances include practical trials aimed at commercial development of low power
wearable and vehicle mounted adaptations of its innovative software and related
hardware solution.
News of
the funding comes at a time of growing public interest as the Company recently
received significant industry recognition of its efforts as category winners
(Anti-Terrorism & Force Protection) at the 2017 Security Industry
Association’s (SIA) New Product Showcase (NPS) component of the ISC West conference
and trade show, the largest annual industry event of its kind in North America.
Patriot One CTO, Dinesh Kandanchatha notes,
“Even as we bring our initial product to market, our strategic long term
planning actually began some time ago when we began discussions to look at
alternative threats and ways of addressing those needs through product
adaptation. Todays announcement brings us that much closer to delivering our latest
technology 2.0 platform, what we are calling PATSCAN™, the next generation of
our award-winning Patriot One NForce CMR1000 software and radar solution. We
thank NSERC and our partners for making today’s funding announcement possible and
look forward to continued success as we move forward with new and exciting
advancements to our technology.”
ON BEHALF OF THE BOARD
“Martin
Cronin"
President & Director
President & Director
About
Patriot One Technologies, Inc. (TSX.V:PAT) (OTCQB: PTOTF) (FRA: 0PL):
Patriot One has
developed a first-of-its-kind Cognitive Microwave Radar concealed weapons
detection system as an effective tool to combat active shooter threats before
they occur. Designed for cost-effective deployment in weapon-restricted
buildings and facilities, the innovative software solution and related hardware
can be installed in hallways and doorways to covertly identify weapons and to
alert security of an active threat entering the premises. 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.
For further information, please
contact:
Patriot
One Inquiries
+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" 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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