TORONTO, ON--(Marketwired - Dec 28, 2016) - Patriot One Technologies, Inc., (TSX VENTURE: PAT) (OTCQB: PTOTF) (FRA: 0PL) ("Patriot One" or the "Company"), developer of a revolutionary concealed weapons detection system, is pleased to announce it has received approval from The Depository Trust Company ("DTC") of New York, NY and is now DTC eligible.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
Being DTC eligible is expected to greatly simplify the process of trading and exchange the Company's common stock on the OTC marketplace in the United States.
In addition to the OTCQB, shares of Patriot One also continue to trade on the TSX Venture and Frankfurt stock exchanges.
Find out more at www.patriot1tech.com.
ON BEHALF OF THE BOARD
CEO & Director
About Patriot One Technologies, Inc. (TSX VENTURE: PAT) (OTCQB: PTOTF) (FRA: 0PL)
Patriot One is advancing five years of academic research and successful testing into a commercial first-of-its-kind Cognitive Microwave Radar concealed weapons detection system. The Company's NForce CMR1000 aims to Deter, Detect and Defend against active shooter threats before they occur. NForce CMR1000 is being designed to be cost-effectively installed in hallways and doorways to covertly identify weapons and to alert security of active threats before entry. Soon, facility operators aim to have an ability to prominently post anti-weapons policies with compliance assured. Patriot One believes widespread use of its technology could act as an effective deterrent, thereby diminishing the epidemic phenomena of active shooters across the nation and around the world. For more information, visit: www.patriot1tech.com.
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This news release contains forward-looking statements relating to product development, commercialization and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" 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 the failure to develop and commercialize the Company's technology as anticipated or at all, the ability of the Company to satisfy the conditions of the relevant securities exchange(s) 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 not update or revise publicly any of the included forward-looking statements unless expressly required by applicable law.