Patriot One (TSX.V: $PAT) (OTCQB: $PTOTF)
Reports Reseller Licensing Agreement and Initial Purchase Order of US$500,000
with South African Security Firm
TORONTO, ON - March
30, 2017 (Investorideas.com Newswire) Defense stock News alert for Patriot One
Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL), developer of a
revolutionary concealed weapons detection system. The company announces
it has entered into both a reseller licensing agreement and purchase order for
an initial sale in the amount of US$500,000 with Mutual Safes International Pty
Ltd. ("Mutual Safe Group") of Pretoria, South Africa.
Patriot One CEO,
Martin Cronin notes, "The team at Mutual Safe Group have been highly
responsive and very professional to work with. Their customers operate in a
high-risk environment every day, and Mutual Safe have become a virtual
household name in South Africa as the trusted name in security solutions. We
are extremely pleased to welcome them to our growing network of resellers and
are impressed with the determination with which they entered into this
agreement."
Established
in 1984, and as its name implies, the Mutual Safe Group's core
operation offers an extensive array of premium quality category safes,
including UL & SABS rated, deposit and cash management, fire and filing,
home, office and gun safes, lockers and truck hoppers. Door solutions include
anti-bandit, strong room, SABS rated, archive storage, fire and blast resistant
bulletproof and an outstanding line of vaults. The company offers related
security solutions including time lock and access control solutions, along with
turnkey airtube solutions and mobile ATM units, ATM drop units and ATM
trailers.
"We
are extremely proud and enthusiastic in signing this reseller agreement."
states Mutual Safe Group CEO, Jason Storm Green. "Our group strives to
identify and implement technologies such as the product offering from Patriot
One Technologies. We foresee this technology becoming a leading deterrent and
defence against the active threats of terrorism and armed violence which has
become a global concern for public safety worldwide."
Patriot's
Martin Cronin further states, "We truly look forward to building this
relationship, especially as our technology holds the potential to bring piece
of mind to many business owners and citizens in a region plagued by acts of
violence. With this announcement, we achieve another step towards the ambitious
future that we set for ourselves when we started our Company, so we are
delighted to announce this agreement today as our vision continues to become
reality."
ON BEHALF OF THE BOARD
"Martin
Cronin"
President & Director
President & Director
About Mutual Safes International Pty Ltd.
Mutual
Safes was established in 1984 and the Head Office, with manufacturing plant and
export division, is situated in Pretoria, South Africa. A second manufacturing
plant operates out of George in the Southern Cape. Between them, these two
factories service associated companies and branches across the country with
offices in Johannesburg, Cape Town, Durban, Bloemfontein, Nelspruit and Port
Elizabeth.
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 Patriot One 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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defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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