TORONTO, Nov. 17, 2022 (GLOBE NEWSWIRE) — Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRA: 0PL) (“Patriot One” or the “Company”) today announced its intent to rebrand the Company, including changing its name to more accurately reflect its vision to create a world where great (patron) experiences and safety work together. Patriot One intends to become Xtract One Technologies Inc., which showcases the Company’s ability to be a single source of digital innovation solutions providing advanced patron experience, safety and business insights.
“We have been developing the Company over the past year to become even more customer-centric, and to address our customers’ most complex security issues. By leveraging innovative AI, our solutions are purpose-built to solve those customer issues,” said Peter Evans, CEO of Patriot One. “Our brand – including all the ways the Company represents itself in its message, including the website, content, and, indeed, our name – were not current with a tech-forward company. We have taken specific steps, showcasing our technology as an elevated solution for the physical security industry as a whole. As we move forward, the value we deliver will further enhance this vision, and expand to deliver incremental value to that patron experience.”
Patriot One has customers in a range of industries, including arenas and stadiums, manufacturing plants and government entities – underscoring the need for modern weapons detection and threat prevention anywhere that people gather. The Company is focused on delivering outstanding experiences to people and patrons, while ensuring safety in an integrated and harmonious manner. More than ever, people are looking to feel safe, and Patriot One is part of the answer.
Over the past 18 months, Patriot One has refocused its product offerings and its go-to-market strategy, and has invested in a highly skilled team to position itself as a trusted security provider and innovation partner to its customers. The rebrand will align the Company’s public image with its internal strategy. It is a key step in the Company’s efforts to bolster its portfolio of solutions to address the growing technology needs of its customers. The Company is a leader in the space of enhanced patron experiences, in concert with weapons and threat detection. The change will also see its AI and development arm, Xtract AI, become a fully integrated part of the organization.
“I have been asked by many why the name ‘Xtract One’,” continued Evans. “To me it perfectly captures what we do – taking the hundreds, if not thousands, of data points and extract from the ‘One’ critical insight that customers require to execute their business security requirements efficiently and effectively.”
The Company will provide updates on the name and any stock symbol changes in due course, in advance of the effective dates of same.
For more information, please visit: https://patriot1tech.com/.
About Patriot One Technologies
Patriot One Technologies makes unobtrusive, artificial intelligence AI-driven weapons and threat detection systems that enable arenas, casinos, schools, theaters and other businesses to provide unprecedented safety while also improving the patron experience. The Company’s Gateway enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic, and its AI-based Video Recognition System enables venue and building operators to identify weapons and other threats inside and outside of facilities, while also providing valuable intelligence for optimizing operations via their AI-powered platform. Follow us on Twitter @patriot1tech.
For further information, please contact:
Caroline Metell, Three Rings Inc
Investor Relations Contact
RB Milestone Group
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 within the meaning of applicable securities laws relating to the name and symbol changes, system sales, 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 or the negative of these words or other comparable terminology. 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 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 only as expressly required by applicable law.
No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release. The name and any stock symbol changes remain subject to regulatory approval.
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