Defense Stock News: Patriot One (TSX.V: $PAT) (OTCQB: $PTOTF) Signs Reseller Agreement and Purchase Order with South African Security Firm
Mutual Safe and Security Group to become latest reseller of concealed weapons detection system
TORONTO, ON - March 29, 2017 (Investorideas.com Newswire) Patriot One Technologies Inc., (TSX.V: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) ("Patriot One" or the "Company"), developer of a revolutionary concealed weapons detection system, is pleased to announce 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
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.
For more information, visit: www.mutual.co.za.
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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