Investorideas.com - Patriot One (TSX.V: $PAT.V) (OTCQX: $PTOTF) @patriot1tech – Makers of PATSCAN CMR covert #Weapondetection System enters into conditional agreement in principle with International #Defence Contractor

Investorideas.com - Patriot One (TSX.V: $PAT.V) (OTCQX: $PTOTF) @patriot1tech – Makers of PATSCAN CMR covert #Weapondetection System enters into conditional agreement in principle with International #Defence Contractor

Defense stock news alert - Patriot One
Technologies Inc., (TSX.V:
PAT) (OTCQB:
PTOTF) (FRANKFURT: 0PL) ("Patriot One" or the
"Company"), makers of the award-winning PATSCAN CMR covert weapon
detection system, advises that it has reached an agreement in principle with a
major international Defence contractor pursuant to which Patriot One will,
subject to certain governmental approvals, receive funding for the further
development and integration of its PATSCAN CMR technology. The agreement aims
to extend the technical development of Patriot One’s cognitive microwave radar
technology beyond the initial goals of the Company and includes a two stage,
several million dollar (final amounts to be determined) non-dilutive funding
for the development of the PATSCAN CMR technology with in-kind technical
support for additional research and development. Until such time as all
required approval is received (presuming it is received) Patriot One is
restricted from providing additional details regarding the transaction.
Additional information regarding the transaction and related matters will be
announced as soon as the pending commercial activities permit full disclosure.