Breaking Defense Stock News: Patriot One (TSX: $PAT.TO) (OTCQX: $PTOTF) Secures Contract for Correctional Service Canada from Innovative Solutions Canada, @patriot1tech
Program to fund deployment and evaluation of PATSCAN Platform, including its video fight detection module
TORONTO, ON - March 9, 2020 (Investorideas.com Newswire, Homelanddefensestocks.com) Patriot One Technologies Inc. (TSX: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) is pleased to announce it has been awarded a contract for the PATSCAN Multi-Sensor Covert Threat Detection Platform (the "PATSCAN Platform") by Innovation Solutions Canada (ISC) for Correctional Service Canada (CSC). The contract will include the purchase, deployment and evaluation of the PATSCAN Platform, including the video fight and disturbance detection module. Deployment of the PATSCAN Platform will begin with Correctional Service Canada (CSC) in March 2020 at an undisclosed location.
The contract from Innovative Solution Canada (ISC), was awarded to Patriot One for its PATSCAN Platform, with specific interest around the Video Object Recognition Software (VRS) solution for the detection of visible make-shift knives, cellphones, as well as disturbances and fights, all of which have been issues with correction facilities and their management teams. The Platform was evaluated and pre-qualified under the ISC's Testing Stream, formerly named the Build in Canada Innovation Program (BCIP). The Testing Stream helps connect Canadian innovators with federal government departments that are willing to test their innovation and provide innovators with valuable testing feedback.
"We've been working with Innovative Solutions Canada Program, formerly BCIP, on this project, prior to being acquired by Patriot One in December 2018," shared Dr. James Stewart, SVP Video Analytics at Patriot One. "We are excited to be part of the program to demonstrate our capabilities to not only detect concealed and visible threat objects with our PATSCAN Platform, but also help correctional facility management and guards quickly detect fights and disturbances that at times breakout between inmates."
Patriot One's business development and engineering teams have begun work with teams at ISC and Correctional Service Canada (CSC) on the production of the PATSCAN Platform, which will be delivered for installation and deployment at an undisclosed facility beginning March 2020. Following onsite testing and evaluation, Patriot One, and CSC will discuss the possibility of expanding the Platform deployment across Canada.
Martin Cronin, CEO
About Patriot One Technologies Inc.
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.comor 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, Patriot One Technologies
+1 (888) 728-1332
Scott Ledingham, Patriot One Technologies
Innovation Solutions Canada (ISED)
Business hours: 7:30 a.m. to 5:30 p.m
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 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. 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 counterparty default 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 only as expressly required by applicable law.
Neither the Toronto Stock Exchange (TSX) nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring TSX: PAT is a paid for news release on Investorideas.com ($750) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Sign up for free stock news alerts at Investorideas.com