07:24:08 EDT Fri 29 Mar 2024
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Patriot One Technologies Inc
Symbol PAT
Shares Issued 163,179,222
Close 2022-11-17 C$ 0.56
Market Cap C$ 91,380,364
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Patriot One changing name to Xtract One Technologies

2022-11-17 17:28 ET - News Release

Mr. Peter Evans reports

PATRIOT ONE TECHNOLOGIES ANNOUNCES INTENT FOR CORPORATE REBRANDING

Patriot One Technologies Inc. intends to rebrand the company, including changing its name to more accurately reflect its vision to create a world where great (patron) experiences and safety work together. Patriot One intends to become Xtract One Technologies Inc., which showcases the company's ability to be a single source of digital innovation solutions providing advanced patron experience, safety and business insights.

"We have been developing the company over the past year to become even more customer-centric, and to address our customers' most complex security issues. By leveraging innovative AI, our solutions are purpose-built to solve those customer issues," said Peter Evans, chief executive officer of Patriot One. "Our brand -- including all the ways the company represents itself in its message, including the website, content and, indeed, our name -- were not current with a tech-forward company. We have taken specific steps, showcasing our technology as an elevated solution for the physical security industry as a whole. As we move forward, the value we deliver will further enhance this vision, and expand to deliver incremental value to that patron experience."

Patriot One has customers in a range of industries, including arenas and stadiums, manufacturing plants, and government entities -- underscoring the need for modern weapons detection and threat prevention anywhere that people gather. The company is focused on delivering outstanding experiences to people and patrons, while ensuring safety in an integrated and harmonious manner. More than ever, people are looking to feel safe, and Patriot One is part of the answer.

Over the past 18 months, Patriot One has refocused its product offerings and its go-to-market strategy, and has invested in a highly skilled team to position itself as a trusted security provider and innovation partner to its customers. The rebrand will align the company's public image with its internal strategy. It is a key step in the company's efforts to bolster its portfolio of solutions to address the growing technology needs of its customers. The company is a leader in the space of enhanced patron experiences, in concert with weapons and threat detection. The change will also see its AI and development arm, Xtract AI, become a fully integrated part of the organization.

"I have been asked by many why the name 'Xtract One,'" continued Mr. Evans. "To me it perfectly captures what we do -- taking the hundreds, if not thousands, of data points and extract from the 'One' critical insight that customers require to execute their business security requirements efficiently and effectively."

The company will provide updates on the name and any stock symbol changes in due course, in advance of the effective dates of same.

About Patriot One Technologies Inc.

Patriot One Technologies makes unobtrusive, artificial intelligence AI-driven weapons and threat detection systems that enable arenas, casinos, schools, theatres and other businesses to provide unprecedented safety while also improving the patron experience. The company's Gateway enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic, and its AI-based video recognition system enables venue and building operators to identify weapons and other threats inside and outside of facilities, while also providing valuable intelligence for optimizing operations via their AI-powered platform.

We seek Safe Harbor.

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