Patriot One’s Xtract.ai Division Secures $975,000 Contract for Department of National Defense
05 Februar 2020 - 2:00PM
Xtract Technologies Inc. (“Xtract.ai”), a
subsidiary of Patriot One Technologies Inc. (TSX: PAT) (OTCQX:
PTOTF) (FRANKFURT: 0PL), is pleased to announce it has secured a
$975,000CAD Contract with Canada’s Department of National Defense
through the Public Works and Government Services Canada Division.
The contract is for a project related to
improving situational awareness for the Canadian Armed Forces
(“CAF”) and security personnel using video analytics, artificial
intelligence and augmented reality. This project will continue
previous work completed by Xtract.ai for the CAF to develop
technology solutions to augment the situational awareness of their
soldiers and address the following challenges:
- detect, recognize, and identify persons or objects of interest
in a physical environment, and/or
- track identified persons and objects of interest using seamless
information sharing across a decision network.
Work will proceed in multiple phases, including
the design, development and deployment of advanced machine learning
models, proprietary data sets and integration with advanced
visualization hardware.
“We’re very excited to leverage the Xtract.ai
team’s expertise in video analytics, object detection and
artificial intelligence with the Canadian Department of National
Defense,” expresses Martin Cronin, CEO of Patriot One
Technologies. “With the work Xtract.ai has be doing with
several clients, as well as on Patriot One’s PATSCAN Multi-Sensor
Covert Threat Detection Platform, the team brings tremendous
experience in video analytics and threat object detection and look
forward to delivering a high-performing solution that we hope will
augment our military personnel in their service to our
country.”
For more details on the Public Work’s DND
contract, please visit:
https://buyandsell.gc.ca/procurement-data/award-notice/PW-SV1-001-37327-001
The Xtract.ai team is already under way in the
project’s design and development phase, and will make
announcements, as required, on the progress of its efforts in
achieving the goals of Canadian Department of National Defense.
About XTRACT TECHNOLOGIES INC - a
subsidiary of Patriot One TechnologiesXtract.ai develops
and commercializes artificial intelligence, machine learning, deep
neural networks and predictive solutions utilizing advanced
technology for public institutions and private enterprise. The firm
has an award winning, highly skilled team that develops AI
solutions to solve challenges across computer vision (CV), natural
language processing (NLP), anomaly detection, and time-series
analysis for applications ranging from security and defense to
environmental solutions and healthcare. For more information on
building your AI solution, visit: xtract.ai
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.
For further information, please
contact:
Patriot One Technologies
Inquiries info@patriot1tech.com www.patriot1tech.com
Investor Relations John Martin,
Patriot One Technologies +1 (888) 728-1332
johnm@patriot1tech.com
Media Contacts: Scott
Ledingham, Patriot One Technologies
+1-613-806-7135scott@prmedianow.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
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.
Patriot One Technologies (TSX:PAT)
Historical Stock Chart
Von Jan 2025 bis Feb 2025
Patriot One Technologies (TSX:PAT)
Historical Stock Chart
Von Feb 2024 bis Feb 2025