TORONTO, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Patriot One Technologies Inc. (PTOTF) (“Patriot One” or the “Company”) developer of the PATSCAN™ Multi-Sensor Covert Threat Detection Platform (“PATSCAN”), wishes to make the following statements regarding recent market activity concerning its common stock traded on the OTCQX marketplace.
The Company became aware of certain promotional activity on its company, business, products, services and securities on July 2, 2019 based on its engagement of a marketing firm, Native Ads, Inc. The promotional material presents a general overview of the Company’s business and operations and the growth potential of the security technology industry and more specifically, threat detection and counter-terrorism solutions. It contains some speculative language and forward-looking statements about investment potential, but the Company does not believe it contains any materially false or misleading statements about the Company.
The Company engaged Native Ads, Inc. for the purpose of providing strategic digital media, marketing and data analytics services and directly paid Native Ads, Inc. for the creation and distribution of the promotional materials procured by Native Ads, Inc. Except for reviewing the content for factual inaccuracies regarding the Company’s business, products and services, the Company did not have editorial control over the content. Although the Company has no way of directly correlating such content to their impact on its securities, the effect of this on the Company’s securities may have resulted in an incremental increase in trading price and volume.
Since July 29, 2018, the Company has engaged the following third-party providers of investor relations, public relations, marketing and other related services: Native Ads, Inc., Equity Guru Media, Inc., Market IQ Media Group Incorporated, Tailwinds Research Group, LLC, Axe Communications Inc., Winning Media, LLC, Flathead Business Solutions, LLC, StreetWise Reports, FinancialBuzz Media Networks, PRMediaNow, Audience Marketing, Inc. and Industrious Content.
Upon inquiry of management, directors, control persons and third-party service providers, to the best of the Company’s knowledge during the past 90 days no such persons executed any purchase or sales transactions of the Company’s securities during such time period, other than: Jeff Tindale, Director and Senior Vice President, Capital Markets of the Company, who exercised expiring warrants on June 17, 2019 to purchase 100,000 shares; Ian Murray, Audience Marketing, Inc., who exercised expiring warrants on June 27, 2019 to purchase 60,000 shares and subsequently sold 15,000 shares between July 26 and 29, 2019; and Victoria Calvert, Director, was granted incentive stock options exercisable to acquire 250,000 shares on May 29, 2019 in connection with her appointment to the Board of Directors on same date, which remain unexercised as of the date hereof. The Company has not issued any convertible debt or equity instruments that allow conversion to equity securities at prices constituting a discount to the current market rate at the time of issuance.
ON BEHALF OF THE BOARD
Martin Cronin, CEO
About Patriot One Technologies, Inc. (PTOTF)
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 & 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.
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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 the impact of promotional and other marketing materials on the price and volume of Patriot One’s securities, product development, 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 are 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.