Breaking Security Stock News: Patriot One (TSX: $PAT.TO) (OTCQX: $PTOTF) Awarded $780,000 Contract by Innovative Solutions Canada (ISC) for Department of National Defense (DND)
ISED’s Testing Stream Program to fund deployment and evaluation of PATSCAN Platform
TORONTO, ON - January 30, 2020 (Investorideas.com Newswire) Patriot One Technologies Inc., (TSX: PAT) (OTCQB: 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.
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.
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
John Martin, Investor Relations Manager
Patriot One Technologies
+1 (888) 728-1332
Scott Ledingham, Public Relations
Patriot One Technologies
Missy Knight, Public Relations & Community Support Liaison
Mt. Healthy City Schools
Innovation Solutions Canada (ISED)
Business hours: 7:30 a.m. to 5:30 p.m
media relations team.
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