Patriot One and Xtract Technologies Sign Artificial Intelligence Collaboration Agreement
31 July 2019 - 10:00PM
Patriot One Technologies Inc. (TSX: PAT)
(OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”),
developer of the PATSCAN™ Multi-Sensor Covert Threat Detection
Platform (“PATSCAN”), is pleased to announce that it has
signed a collaboration agreement with Xtract Technologies Inc.
(“Xtract”), a leading Canadian artificial intelligence company
based in Vancouver, B.C., to develop and improve new products and
services, explore the potential for joint research and development
activities and consider the feasibility of future strategic
alternatives.
Xtract will work closely with three of the
PATSCAN platform component teams – CMR, TMS and
VRS – to explore how artificial intelligence
technology can augment multiple data sets, such as people and
threat objects, to enhance sensor threat-detection performance. In
addition, the Xtract team will examine ways data fusion between the
three sensor solutions can enhance overall platform
effectiveness.
“We’re excited to begin collaborating with
Patriot One, a company that’s demonstrated leadership in global
threat detection and security-focused technology development,” said
Kevin O’Neill, CEO of Xtract. “We’re confident that artificial
intelligence technology can deliver improved results, further
enhancing the PATSCAN Platform’s class-leading performance.”
“Xtract will be a valuable partner on this
strategic project,” said Martin Cronin, CEO of Patriot One. “We’ve
been truly impressed by the Xtract team and how they have delivered
for both private and public organizations, giving us confidence
that they will have a positive impact on the development and
integration of our growing list of threat detection components.
We’ve already begun working together and anticipate positive
developments within the next 30 days. This collaboration agreement
is a strong example of Patriot One’s commitment to continually
investing in our development to maintain the gold standard of
threat detection for public safety.”
Launching a digital media marketing
campaignCoinciding with the launch of international sales,
Patriot One has engaged Native Ads, Inc. ("Native Ads") to provide
and manage the Company’s digital media marketing campaign. Patriot
One has entered into a services agreement with Native Ads for a
total cost of approximately CAD250,000. Neither Native Ads nor any
of its directors and officers own any securities of the Company.
The agreement has an initial term of six months. Native Ads
will provide content development, web development, media
distribution and campaign reporting and
optimization. ON BEHALF OF THE BOARD
“Martin Cronin”
Martin Cronin, CEO
About Patriot One Technologies
Inc. (TSX:PAT) (OTCQX: PTOTF) (FRA: 0PL): Patriot One’s
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, including car parks, building approach, employee
and public entryways, and inside 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,
please visit www.patriot1tech.com or follow us on Twitter and
Facebook.
About Xtract Technologies
Inc.Xtract develops and commercializes artificial
intelligence, machine learning architectures and deep neural
network and predictive solutions utilizing its proprietary
technology for public institutions and private enterprise across a
variety industry sectors, including security and national defence,
health care, transportation, human resources, information
technology, manufacturing and the global environment. For more
information, visit www.xtract.ai.
About Native AdsNative Ads
provides strategic digital media services, marketing and data
analytics services. Native Ads owns and operates a proprietary ad
exchange with over 80 integrated SSPs (supply side platforms)
resulting in access to 3-7 billion daily North American ad
impressions. The full-service ad agency arm leverages its
proprietary platform and traffic-buying methodologies to assist
issuer clients with high volume content dissemination to
appropriate audiences at the appropriate times.
For further information, please contact: Patriot
One Technologies
Inquiries
info@patriot1tech.com
www.patriot1tech.com
Media
Contacts:
Scott Ledingham, PR Media NowFor Patriot One
Technologies +1-613-806-7135
scott@prmedianow.com
Xtract Technologiesinfo@xtract.ai
John Malach, Native
Ads+1-604-808-7766john@nativeads.com
Investor
Relations:
John Martin, Patriot
One
+1 (888) 728-1332johnm@patriot1tech.com
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 the ability of resellers of the
Company’s products and services to successfully obtain final sales
from their end-user clients and complete implementation of the
Company’s solutions, currently being components of the PATSCAN
Platform, into their respective distribution territories and other
risks detailed from time to time in the filings made by the Company
pursuant to 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.
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