#Defense Stock News: Patriot One (TSX.V: $PAT.V), (OTCQB: $PTOTF) Strengthens
Management for Efficiency and Growth
Company aligns strategic goals
with leadership expertise to increase enterprise value
TORONTO, ON - January 22, 2018 – (Investorideas.com Newswire)
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 today announces 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.
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) (OTCQB: PTOTF) 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.
HomelandDefenseStocks.com
- investing ideas for Defense stocks, Biometrics stocks, Homeland security
stocks, Biodefense stocks, Cyber security stocks
Like Defense and Security Stocks?
View our Defense and Security Stocks Directory Get News Alerts on Defense Stocks
