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Patriot One announces exercise of over-allotment options related to public offering, Canadian Business Journal

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Toronto, March 31, 2022 (GLOBE NEWSWIRE) — Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or “society“) Is a previously announced public offering (“”) in addition to the news releases dated March 17, 2022 and March 25, 2022.Recruitment“) Echelon Wealth Partners Inc. (“Agent“), The agent partially exercised the over-allotment option (“Over-allotment option“).

Following the partial exercise of the over-allotment option, we issued an additional 686,700 units (“unitIt is priced at $ 0.60 per unit and has a total revenue of $ 412,020. Each unit consists of the common stock of the company (each “”Common stock“) And one common stock purchase warrant (“, respectively.”warrant“). Each warrant can be exercised into one common stock at an exercise price of $ 0.75 until March 17, 2025 and may be adjusted at certain events.

Net income from the partial exercise of over-allotment options will be added to the income collected from the offering. It will be used by Patriot One for working capital and general corporate purposes.

PATRIOT ONE TECHNOLOGIES INC.On behalf of the board of directors

Peter Evans
Chief Executive Officer and Director

About Patriot One

Patriot One creates unobtrusive artificial intelligence (AI) -powered weapons and threat detection systems to provide arenas, casinos, schools, theaters and other businesses with unprecedented security while improving the user experience. Let me. The company’s multi-sensor gateway allows businesses to secretly screen weapons at entry points without obstructing traffic flow. AI-based video recognition software also allows venue and building operators to identify weapons and other threats inside and outside the facility. It also provides valuable intelligence for optimizing operations. Follow us on Twitter @ patriot1tech.

For more information, please contact:

inquiry
info@patriot1tech.com
www.patriot1tech.com

Media contacts
Caroline Meter
PatriotOne@threeringsinc.com

Description of future prospects

This news release contains forward-looking statements within the meaning of applicable securities law. All non-historical statements, including but not limited to statements regarding future estimates, plans, programs, forecasts, forecasts, objectives, assumptions, expectations or beliefs in future performance, are “forward-looking statements”. .. The description of the future outlook includes words such as “plan”, “expect”, “not expect”, “expected”, “estimate”, “intended”, “expect”, and “not expect”. It can be identified by using it. , Or “believe”, or a particular action, event, or result is “possible,” “possible,” “possible,” “possible,” or “possible.” , A variation of a word, phrase or statement that occurs or is achieved. Such forward-looking statements include known and unknown risks, uncertainties, and future consequences, in which actual consequences, events, or developments are expressed or implied by such forward-looking statements. Includes events or other factors that may differ materially from progress. Such risks and uncertainties include, among other things, our limited operating history and lack of past profits. Risks related to our business and financial position. Fluctuations in the market price of common stock. We may not be able to accurately predict growth rates and profitability. The risks associated with the COVID-19 pandemic and their impact on the company, economic conditions, and global markets. If we do not use the revenue we receive from the offering in a way that matches our current expectations. Reliance on management; Our requirements for additional financing, and the impact of capital market conditions and other factors on capital availability. Includes competition from more established or more well-funded competitors. The need to secure and maintain corporate alliances and partnerships, including R & D institutions, clients and suppliers. These factors should be considered carefully and the reader should be careful not to place undue reliance on such forward-looking statements. We have sought to identify significant risk factors whose actual actions, events or outcomes may differ materially from those described in our forward-looking statements, but cause the actions, events or outcomes to differ from what we expected. There may be other risk factors that may result in. Estimated or intended. Actual results and future events may differ materially from those expected in the forward-looking statements, and there is no guarantee that the forward-looking statements will be accurate. We undertake no obligation to update any forward-looking statement when new information becomes available for any other reason, except as required by future events, new information or by law.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c920210e-9b88-4c06-9ff7-e8d884dd95ad.


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Patriot One announces exercise of over-allotment options related to public offering, Canadian Business Journal

Source link Patriot One announces exercise of over-allotment options related to public offering, Canadian Business Journal

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