Patriot One Technologies Inc. (TSX: PAT) (OTCQX:
PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”), is
pleased to announce it has been selected by Canada’s Digital
Technology Supercluster (the “Supercluster”) for participation in a
funding program for up to $4.5 million (CAD) in co-investment
capital (the “Investment”) for the PATSCAN Multi-Sensor Threat
Detection Platform (the “PATSCAN Platform”). This investment is
proposed to fund the advanced development and deployment of the
PATSCAN VRS health and safety detection modules for thermal
elevated body temperature, facial mask screening, social distancing
and contact tracing (the “Health & Safety Modules”) as part of
the Company’s suite of video object recognition solutions.
The co-investment is subject to the completion
of a definitive contract, which proposes to release funding under a
two-stage approach to develop and deploy (a) a thermal screening
module that highlights persons presenting with elevated
temperatures in real-time, using commodity-priced thermal cameras,
(b) additional computer modules that detect the presence or
non-presence of medical and non-medical masks and face coverings,
and the ability to highlight persons and problem areas where social
distance requirements are not being maintained, and (c)
cross-location monitoring and prediction of future outbreaks based
on the overall trending of a combination of quantifiable
indicators. Stage one is proposed to comprise up to $2.25 Million
in Investment funding to demonstrate the development and deployment
of Modules over a four to six-month timeframe on-site with five or
more co-development customers, and commercial validation by one or
more customers recruited as a co-development partner for Stage two.
Following a successful Stage One deployment, the Company will
receive a second Investment advance of up to $2.25 Million over a
six to eight-month timeframe to refine the Health & Safety
Modules and redeploy same with Stage One partners and customer(s).
Expenses eligible for Investment are subject to the Supercluster’s
COVID-19 Program Co-Investment Guidelines.
The Health & Safety Modules are additional
video object recognition solutions that have been added to the
PATSCAN Platform, which also includes weapon detection, disturbance
and fight detection modules.
“Our mission has always been to create safer
communities by detecting dangers before they become a threat to our
global citizens and communities,” shared Martin Cronin, CEO of
Patriot One. “We believe our thermal camera solution will greatly
help businesses, healthcare, retail, sport, entertainment, and
hospitality industries as they re-open the economy. The thermal and
facial mask screening solutions will allow property management to
screen employees and customers for elevated body temperatures, and
if detected, those individuals can proceed through secondary
screening process for further evaluation, as well as for compliance
with mask protocols.”
“The Health & Safety Modules can use
off-the-shelf thermal cameras, powered with our PATSCAN artificial
intelligence (AI) software, to identify and analyze instances of
elevated body temperature,” explained Dietmar Wennemer, Patriot
One’s new President and COO. “It is not as simple as installing a
thermal camera and expecting to get a precise temperature reading;
the fine temperature tolerances are not detected with every
standard IR thermal camera. The key is in our use of machine
learning to identify anomalies. Any anomalous detection outside a
nominal body temperature range will result in an immediate alert,
which will be instantly transmitted to onsite security for further
action. This new thermal module is compatible with the PATSCAN
Platform and compatible with all other solutions including the
facial mask detection module. All detection Modules can be
monitored remotely. We also have two excellent AI research teams
that continuously enhance our AI features and the effectiveness of
the computer neural networks we utilize for our advanced
solutions.”
“We are proud to support the development and
deployment of the PATSCAN Platform to improve the health and safety
of all Canadians through the Health & Safety modules being
developed by Patriot One,” said Sue Paish, CEO of the Digital
Technology Supercluster. “This innovative screening technology will
support Canada in safely re-opening the economy in the COVID 19
environment.”
Development of the PATSCAN Platform’s VRS
thermal elevated body temperature and facial mask detection modules
has already begun, with testing in four (4) distinct North American
settings, including a hospital, business office, sport stadium and
law enforcement facility. Following these onsite client tests and
evaluations, Patriot One and the Digital Technology Supercluster
will discuss the commercial rollout and deployment of these new
Health & Safety Modules across Canada, as part of the overall
PATSCAN Multi-Sensor Covert Threat Detection Platform.
In addition, the Company has plans to undertake
a corporate awareness campaign to raise its profile in the U.S.
domestic investment community, and has engaged Winning Media, LLC
(“Winning Media”) to provide Patriot One with a breadth of targeted
digital media and corporate brand recognition initiatives. Winning
Media is a Houston, Texas – based marketing agency that specializes
in digital and corporate brand marketing services to enhance
corporate visibility and retail investor awareness. The agency will
handle specific functions of digital distribution of public
information relating to the Company. Winning Media and its
principals do not have any direct or indirect equity interest in
the Company and will not receive any securities of the Company as
compensation for their services.
Respectfully
“Martin Cronin”
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 and 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 Digital Technology Supercluster:
The Digital Technology Supercluster is led by
global companies such
as MDA, Microsoft, Telus, Teck Resources
Limited, Mosaic Forest
Management, Lululemon, LifeLabs and Terramera,
and tech industry leaders such as 1Qbit, D-Wave Systems,
Finger Food Advanced Technology Group, Sanctuary AI,
and LlamaZOO. Members also include BC’s post-secondary
institutions such as Emily Carr University of Art +
Design, British Columbia Institute of
Technology, University of British Columbia and Simon
Fraser University. A full list of Members can be
found here.
About the COVID-19 Program:The
COVID-19 Program funds projects that contribute to improving the
health and safety of Canadians, supporting Canada’s ability to
address issues created by the COVID-19 outbreak. In addition, these
projects will build expertise and capacity to address and
anticipate issues that may arise in future health crises. More
information can be found here.
For further information, please
contact:
Patriot One
Inquiriesinfo@patriot1tech.comwww.patriot1tech.com
Investor RelationsJohn Martin,
Patriot One+1 (888) 728-1332johnm@patriot1tech.com
Media Contacts:Scott Ledingham,
Patriot One+1-613-806-7135scott@prmedianow.com
Digital Technology
SuperclusterElysa
Darlingelysa@switchboardpr.com587-890-9833
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.
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