#Defense Stock News: Patriot One (TSX.V: $PAT.V ) (OTCQB: $PTOTF) Strengthens Management for Efficiency and Growth
Company aligns strategic goals with leadership expertise to increase enterprise value
TORONTO, ON - January 22, 2018 (Investorideas.com Newswire) Patriot One Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) ("Patriot One" or the "Company"), makers of the award-winning PATSCAN CMR™ (Cognitive Microwave Radar) concealed weapons detection system today announces several new appointments and a subsequent management realignment aimed at advancing its business policies, innovation management, and operational activities. These efforts are part of a phased strategy in response to a growing multi-national workforce and are aimed at streamlining enterprise focus on value delivery.
Patriot One welcomes Mr. Robert Lex as Vice President of Operations. Mr. Lex brings over 25 years experience in global operations and supply chain management for the high-tech and custom automation industries. He has a demonstrated track record of delivering on strategic goals at an entrepreneurial pace. Previously, Mr. Lex served with Avigilon Corporation as Senior Director, Global Strategic Sourcing improving product margins and delivering millions in savings, while also further developing a hybrid on-shore/off-shore optimized supply chain. He has worked with ATS Automation Tooling Systems Inc. with responsibility for multi-million-dollar global capital projects. Before this, he held Business Unit Director roles at Celestica and was responsible for delivering electronic products for multiple billion-dollar OEM customers, as well as leading successful global transformation projects during their period of rapid growth. Mr. Lex received his MBA from York University, Schulich School of Business (Toronto) in Finance & Marketing and his B.A.Sc. From the University of Toronto in Mechanical Engineering. Robert is a member of the Professional Engineers of Ontario. He also has a Masters Certificate Lean Six Sigma – Black Belt.
Also joining the Company is Dr. Paul Rice, Ph.D. as Vice President of Research, Radar Systems. Dr. Rice is a technical and business orientated executive with over 15 years of international experience working in start-up environments in the security sector. He has completed several technology transfers from academia and government research laboratories, taking a concept from initial prototype to production, whilst being focused on the customer value proposition. Dr. Rice has developed and managed effective multi-disciplinary engineering teams across different time zones, around an agile, lean product development approach. His education includes, PhD Microwave Engineering, University of Manchester, MEng (Hons) 2i Electrical and Electronic Engineering with French, UMIST, ENSEEIHT Grande Ecole.
In related news, Mr. Dinesh Kandanchatha is transitioning from his roles as Chief Technology Officer and Company President. He will remain as an independent Director of the Company regarding corporate strategy, corporate development, and business alliances; including a governance position on the audit committee. Mr. Martin Cronin, Company CEO will assume the role and responsibilities of President. This revised structure will help support the next phase of growth for the business.
Further to this end, our expanded engineering team will take on the leadership of the Company's technology advancement. Franco Cerantola will lead product delivery, Crispian Sinnott will focus on cloud and software applications, Robert Lex will drive manufacturing and strategic sourcing, and Dr. Paul Rice will focus on radar and algorithms. This highly skilled team brings notable depth to the organization with over 50 years of combined engineering and new product development experience in the security industry.
Martin Cronin, Patriot One President & CEO states, "As we neared the end of 2017, we had the opportunity to reflect on what we had achieved in a remarkably short period since our inception just over a year ago. Given the extraordinarily positive global response for our efforts to-date, we identified that the Company had to look carefully at our operational structure. With the speed-to-market we have to achieve in 2018, we need to act decisively to ensure we can manage our projected business growth, product rollout and corporate alliances with key partners. I am delighted that Dinesh will now be available to focus on the bigger picture of corporate development and strategic alliances. No one has been as dedicated and worked more tirelessly as he has since the very start of this endeavor. It speaks volumes that his role will be replaced by a team. While the entire Board and myself are sincerely and personally very pleased to have his continued expertise at hand, we also are excited to welcome Robert and Paul to our growing leadership team. 2018 will see remarkable advancements, as we continue our efforts to rid the world of tragic and random acts of violence."
On Behalf of the Board,
Martin Cronin, President, CEO & Director
About Patriot One Technologies, Inc. (TSX.V:PAT) (OTCQB: PTOTF) (FRA: 0PL):
Patriot One has developed PATSCAN CMR™ the next generation of its award-winning radar device and software solution. PATSCAN CMR is a first-of-its-kind Cognitive Microwave Radar concealed weapons detection system, designed as an effective tool to combat active shooter threats before they occur. Built for cost-effective deployment in weapon-restricted buildings and facilities, the Patriot One software solution and related hardware can be installed in key access points to covertly identify weapons and to alert security of an active threat. 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. Patriot One Technologies are proud winners of the 2017 Anti-Terrorism / Force Protection category of the Security Industry Association's New Product Showcase at ISC West.
For further information, please contact:
Patriot One Inquiries
John Martin, Investor Relations
+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”,” believes,” 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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