Security Stock News:
Patriot One (TSX $PAT.V; OTCQB: $PTOTF) Reports Grant to Advance Concealed
Weapons Detection PATSCAN™ 2.0
Company recently
received industry recognition of its efforts as category winners
(Anti-Terrorism & Force Protection) at the 2017 Security Industry
Association's (SIA) New Product Showcase (NPS)
TORONTO,
ON - April 17, 2017 (Investorideas.com Newswire) Security Stock News Alert;
Patriot One Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL),
a 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
Read this release in
full at
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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Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF)
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