#Defense #Stocks in the News: Patriot One (TSX: $PAT.TO) (OTCQX: $PTOTF)
Awarded $780,000 Contract by Innovative Solutions Canada (ISC) for Department
of National Defense (DND)
TORONTO, ON– January 31, 2020 – (Investorideas.com Newswire, Homelanddefensestocks.com ) Patriot One
Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”), is
pleased to announce it has been awarded an $780,000 CAD contract by Innovation
Solutions Canada (ISC) for the Canadian Department of National Defense
(DND). The contract will include the
purchase, deployment and evaluation of the PATSCAN Multi-Sensor Covert Threat
Detection Platform with the Royal Canadian Navy (RCN), who will evaluate and
learn how to deploy the Platform for personnel and
asset protection at ports of call around the world.
Read this news featuring Patriot One in full at https://www.investorideas.com/news/2020/defense/01311PatriotOne-ISC-DND.asp
The $780,000 CAD contract, initially
announced for pre-qualification on December 5, 2018 by Patriot One, among the
Company, the Canadian Government and Innovative Solutions Canada (ISC) –
formerly the Build In Canada Innovation Program (BCIP) - was initiated under
the call for proposals 007 guidelines. Patriot One’s PATSCAN Platform was evaluated
and pre-qualified under the Military Innovation Component on the merit of
innovation, and ISC sourced the Department of National Defense (DND) as the
implementation and evaluation partner. The Military Innovation Component
consists of six (6) priority areas, which includes (i) Arctic & Maritime
Security, (ii) Command & Support, (iii) Cyber-security, (iv) In-Service
support, (v) Protecting the Soldiers and (vi) Training Systems. Patriot One’s
PATSCAN Platform met several of these priority areas but was specifically
selected under the Arctic/Maritime Security and Protecting Soldiers.
“We’ve been working with Innovation, Science and
Economic Development (ISED) Canada’s ISC division and Canadian Department of National Defense (DND) over the
past year on this critical program for personnel and asset protection while at
port around the world,” shared Martin Cronin, CEO and President of Patriot
One. “The ability to deploy, evaluate
and train the DND personnel on the PATSCAN Platform in a variety of real-life
settings is extremely exciting for our team. As I’ve shared before, and as a
Canadian company, we are truly honored to be part of this effort to protect our
serving military personnel.”
Patriot One’s business development
and engineering teams have already begun work with teams at ISC, and Canadian
Department of National Defense on the production of the PATSCAN Platform, which
will be delivered beginning in February 2020.
Deployment and testing will begin in March 2020. Specific locations where the PATSCAN Platform
will be deployed and evaluated will not be disclosed for the safety of
personnel and Canadian DND bases.
Respectfully
“Martin Cronin”
Martin Cronin, CEO
About Patriot One Technologies Inc. (TSX:PAT) (OTCQX: PTOTF) (FRA: 0PL):
Patriot Ones' mission is to deliver
innovative threat detection and counter-terrorism solutions for safer
communities. Our PATSCAN™ Multi-Sensor Covert Threat Detection Platform
provides a network of advanced sensor technologies with powerful next
generation AI/machine learning software. The network can be covertly deployed
from far perimeter to interiors across multiple weapons-restricted facilities.
The PATSCAN™ platform identifies and reports threats wherever required; car
park, building approach, employee & public entryways and inside the facilities.
Each solution in the platform identifies weapons, related threats or
disturbances for immediate security response. Our motto Deter, Detect and
Defend is based on the belief that widespread use of the PATSCAN™ platform will
act as an effective deterrent to diminish the epidemic of active threats around
the globe. For more information, visit: www.patriot1tech.com or follow us on Twitter and Facebook.
About Innovative Solutions Canada (ISC)
Innovative
Solutions Canada helps Canadian innovators by funding R&D and testing
prototypes in real-life settings. The
program operates two streams with a combined funding of over $140 million
dedicated to Canadian innovators who want to start, grow, and get to market.
For further information, please contact:
Patriot One Technologies Inquiries
info@patriot1tech.com
Investor Relations
John Martin, Patriot One
Technologies
+1 (888) 728-1332
johnm@patriot1tech.com
Media Contacts:
Scott Ledingham, Patriot One
Technologies
+1-613-806-7135
scott@prmedianow.com
Innovation Solutions Canada (ISED)
Ottawa Headquarters
Telephone:
343-291-1777
Business
hours: 7:30 a.m. to 5:30 p.m
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