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
President & Director
President & Director
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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.
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