Investorideas.com - #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

Investorideas.com - #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.