#Defense #Stock
News: Patriot One (TSX.V: $PAT.V) (OTCQX: $PTOTF) @patriot1tech enters into
conditional agreement in principle for technology funding with International #Defence
Contractor
TORONTO, ON – August 14, 2018) – Patriot One Technologies Inc. (TSX.V: PAT) (OTCQX: PTOTF)
(FRANKFURT: 0PL) (“Patriot One” or the “Company”), makers of the
award-winning PATSCAN CMR covert weapon detection system, advises that it has
reached an agreement in principle with a major international Defence contractor
pursuant to which Patriot One will, subject to certain governmental approvals,
receive funding for the further development and integration of its PATSCAN CMR
technology. The agreement aims to extend the technical development of Patriot
One’s cognitive microwave radar technology beyond the initial goals of the
Company and includes a two stage, several million dollar (final amounts to be
determined) non-dilutive funding for the development of the PATSCAN CMR
technology with in-kind technical support for additional research and
development. Until such time as all required approval is received (presuming it
is received) Patriot One is restricted from providing additional details
regarding the transaction. Additional information regarding the transaction and
related matters will be announced as soon as the pending commercial activities
permit full disclosure.
Read this in full
at http://www.investorideas.com/news/2018/defense/08141TSXVPAT-Funding.asp
While
final contractual review and diligence is underway, Patriot One believes the
possibility exists that certain members of the public may become aware of the
agreement and choose to speculate on its meaning. As all final approvals have
not been received and the matter is subject to certain non-disclosure
agreements, the Company is not at liberty to discuss additional particulars at
this time. However, as a public issuer it was determined that the obligations
of continuous disclosure and communications to investors required a statement
of fact at this time. We caution that there is no assurance that a definitive
final agreement will be reached shortly, if at all, or that all governmental
approvals will be granted, although we are certainly working hard to accomplish
this goal.
“We
are thrilled to have the possibility of working with a highly-respected,
international leader in defence and security
technologies. Their interest
in potentially providing assistance to help us further
develop our PATSCAN
CMR solution reinforces the significance of our work to-date. It is also
a source of pride that our innovative threat detection technology has captured
the serious interest of a major industry player at this early stage of our business
development,” expressed Martin Cronin, CEO and President of Patriot One.
We
will provide updates as they occur and are permitted.
On
Behalf of the Board,
“Martin
Cronin”
Martin
Cronin, Chief Executive Officer
About Patriot One
Technologies, Inc. (TSX.V:PAT) (OTCQX: 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.
For further
information, please contact:
Patriot
One Inquiries info@patriot1tech.com
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.
This news is
published on the Investorideas.com Newswire – News that Inspires big ideas
Disclaimer/Disclosure:
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and equity research as well as creates original content, including video,
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by copyright laws other than syndication rights. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investment involves risk and possible loss of
investment. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Contact
each company directly regarding content and press release questions. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. More disclaimer info:
http://www.investorideas.com/About/Disclaimer.asp. Disclosure this news is a
paid for news release on the Investorideas.com newswire by Patriot One
Technologies Inc., (TSX.V: PAT) Learn
more about costs and our newswire service http://www.investorideas.com/News-Upload/
Additional
info regarding BC Residents and global Investors: Effective September 15 2008 -
all BC investors should review all OTC and Pink sheet listed companies for
adherence in new disclosure filings and filing appropriate documents with
Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global
investors must adhere to regulations of each country.
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John Martin, Investor Relations
+1
(888) 728-1332
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.
This news is
published on the Investorideas.com Newswire – News that Inspires big ideas
Disclaimer/Disclosure:
Investorideas.com is a digital publisher of third party sourced news, articles
and equity research as well as creates original content, including video,
interviews and articles. Original content created by investorideas is protected
by copyright laws other than syndication rights. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investment involves risk and possible loss of
investment. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Contact
each company directly regarding content and press release questions. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. More disclaimer info:
http://www.investorideas.com/About/Disclaimer.asp. Disclosure this news is a
paid for news release on the Investorideas.com newswire by Patriot One
Technologies Inc., (TSX.V: PAT) Learn
more about costs and our newswire service http://www.investorideas.com/News-Upload/
Additional
info regarding BC Residents and global Investors: Effective September 15 2008 -
all BC investors should review all OTC and Pink sheet listed companies for
adherence in new disclosure filings and filing appropriate documents with
Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global
investors must adhere to regulations of each country.
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stocks, Biodefense stocks, Cyber security stocks
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