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TORONTO, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”), developer of the PATSCANTM Multi-Sensor Threat Detection Platform, is pleased to announce the appointment of Karen Hersh as its Chief Financial Officer (“CFO”) and Corporate Secretary effective immediately. In this role, Ms. Hersh will be responsible for overseeing all financial aspects of the Company, while supporting the board of directors on strategic matters relating to the commercial deployment of the Company’s PATSCAN Platform, corporate development initiatives and capital markets. Mike Barnsley, the current CFO, will support her transition into the role prior to retiring.
“We’re excited to welcome Karen to Patriot One, as she brings with her a great deal of expertise in financial management of both public and private companies,” shared Martin Cronin, CEO of Patriot One. “Karen’s hands-on CFO experience in financial planning and reporting, corporate governance, business development and operations for start-up and growth stage technology companies makes her the right choice for this key C-Suite position. She has a demonstrated and proven track record for leading cross-functional teams to achieve business objectives and value creation, which is critical as we continue to execute on our vision and capitalize on the market opportunity before us.”
Ms. Karen Hersh joins Patriot One with over 20 years of experience across a broad spectrum of finance activities including financial reporting, strategic planning and corporate finance, including mergers and acquisitions (“M&A”). She has held several senior leadership roles, most recently as the CFO for a global private equity company focused on cybersecurity technologies where she was responsible for M&A, financial reporting, and portfolio management. Prior to this role, Ms. Hersh held the positions of CFO at VIQ Solutions Inc. (TSXV:VQS) and Vice President of Corporate Finance & Investment Banking at PricewaterhouseCoopers LLP. Ms. Hersh holds a Bachelor of Commerce from McGill University and is a Canadian Chartered Professional Accountant (CPA).
“I’m very excited about the opportunity to work with this passionate team in moving its life-saving technology towards global deployments and success,” said Karen Hersh. “When first approached about this role, I was immediately impressed with the approach Patriot One is taking with its multi-sensor platform as being both unique and highly important to protecting our communities. I am eager to assist the Company in bringing its vision to life and creating a world safer from acts of violence on our global citizens.”
Mr. Mike Barnsley, the Company’s current CFO, has been looking towards retirement, and feels this is the right time as the Company moves from start-up to full scale operations with the PATSCAN Platform in commercial deployment. Mr. Barnsley will ensure a smooth transition of duties to Ms. Hersh prior to his departure and will serve in an advisory role to the Company.
“Today, we say goodbye to Mike, who has been a great influence for me, the board and our management team in steering Patriot One on this first leg of our journey from inception to productization,” expressed Peter van der Gracht, Chairman of the Board at Patriot One. “We wish him well in his retirement, but know he will be watching us closely, as he’s been an instrumental part of the Company and will want to see success of the PATSCAN Platform in saving lives and a way of life in all our communities.”
About Patriot One Technologies:
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; car park, building approach, employee and public entryways and inside the facilities. Each solution in the platform identifies weapons, related threats or disturbances, or potential health and safety threats 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:
John Martin, Patriot One Technologies
+1 (888) 728-1332
Scott Ledingham, Patriot One Technologies
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.
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