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Patriot One Technologies Inc
Symbol PAT
Shares Issued 84,837,688
Close 2018-01-22 C$ 1.64
Market Cap C$ 139,133,808
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Patriot One Technologies appoints Lex, Rice as VPs

2018-01-22 10:10 ET - News Release

Mr. Martin Cronin reports

PATRIOT ONE STRENGTHENS MANAGEMENT FOR EFFICIENCY AND GROWTH

Patriot One Technologies Inc. has made several new appointments and a subsequent management realignment aimed at advancing its business policies, innovation management and operational activities. These efforts are part of a phased strategy in response to a growing multinational work force and are aimed at streamlining enterprise focus on value delivery.

Patriot One welcomes Robert Lex as vice-president of operations. Mr. Lex brings over 25 years experience in global operations and supply chain management for the high-technology and custom automation industries. He has a demonstrated record of delivering on strategic goals at an entrepreneurial pace. Previously, Mr. Lex served with Avigilon Corp. as senior director, global strategic sourcing, improving product margins and delivering millions in savings while also further developing a hybrid onshore/offshore optimized supply chain. He has worked with ATS Automation Tooling Systems Inc. with responsibility for multimillion-dollar global capital projects. Before this, he held business unit director roles at Celestica and was responsible for delivering electronic products for multiple billion-dollar OEM (original equipment manufacturing) customers as well as leading successful global transformation projects during their period of rapid growth. Mr. Lex received his MBA from York University's Schulich School of Business (Toronto) in finance and marketing and his BASc from the University of Toronto in mechanical engineering. Mr. Lex is a member of the Professional Engineers of Ontario. He also has a Masters Certificate in Lean Six Sigma Black Belt.

Also joining the company is Dr. Paul Rice, PhD, as vice-president of research, radar systems. Dr. Rice is a technical- and business-oriented executive with over 15 years of international experience working in start-up environments in the security sector. He has completed several technology transfers from academia and government research laboratories, taking a concept from initial prototype to production, whilst being focused on the customer value proposition. Dr. Rice has developed and managed effective multidisciplinary engineering teams across different time zones, around an agile, lean product development approach. His education includes a PhD in microwave engineering from the University of Manchester, an MEng (honours) in electrical and electronic engineering with University of Manchester Institute of Science and Technology, ENSEEIHT Grande Ecole.

In related news, Dinesh Kandanchatha is transitioning from his roles as chief technology officer and company president. He will remain as an independent director of the company regarding corporate strategy, corporate development and business alliances, including a governance position on the audit committee. Martin Cronin, the company's chief executive officer, will assume the role and responsibilities of president. This revised structure will help support the next phase of growth for the business.

Further to this end, Patriot One's expanded engineering team will take on the leadership of the company's technology advancement. Franco Cerantola will lead product delivery, Crispian Sinnott will focus on cloud and software applications, Mr. Lex will drive manufacturing and strategic sourcing, and Dr. Rice will focus on radar and algorithms. This highly skilled team brings notable depth to the organization with over 50 years of combined engineering and new product development experience in the security industry.

Mr. Cronin stated: "As we neared the end of 2017, we had the opportunity to reflect on what we had achieved in a remarkably short period since our inception just over a year ago. Given the extraordinarily positive global response for our efforts to date, we identified that the company had to look carefully at our operational structure. With the speed to market we have to achieve in 2018, we need to act decisively to ensure we can manage our projected business growth, product rollout and corporate alliances with key partners. I am delighted that Dinesh will now be available to focus on the bigger picture of corporate development and strategic alliances. No one has been as dedicated and worked more tirelessly as he has since the very start of this endeavour. It speaks volumes that his role will be replaced by a team. While the entire board and myself are sincerely and personally very pleased to have his continued expertise at hand, we also are excited to welcome Robert and Paul to our growing leadership team. Two thousand eighteen will see remarkable advancements as we continue our efforts to rid the world of tragic and random acts of violence."

About Patriot One Technologies Inc.

Patriot One has developed Patscan CMR -- the next generation of its award-winning radar device and software solution. Patscan CMR is a first-of-its-kind cognitive microwave radar concealed weapon detection system, designed as an effective tool to combat active shooter threats before they occur. Built for cost-effective deployment in weapon-restricted buildings and facilities, the Patriot One software solution and related hardware can be installed in key access points to covertly identify weapons and to alert security of an active threat.

We seek Safe Harbor.

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