Patriot One Technologies Inc. (‘Patriot One’ or the ‘Company’), a globally renowned technology-driven threat detection and patron screening solutions company, is pleased to announce that, further to its news release dated November 17, 2022, it has received conditional approval from the Toronto Stock Exchange (the ‘TSX’) to change its name from ‘Patriot One Technologies Inc.’ to ‘Xtract One Technologies Inc.’ (the ‘Name Change’).
Patriot One to rebrand as Xtract One Technologies Inc.
The Company expects the Name Change to take effect at market open on December 1, 2022. The Company’s common shares, which currently trade under the ticker symbol ‘PAT’ on the Toronto Stock Exchange (TSX), are expected to trade under the new symbol ‘XTRA’. The new CUSIP of the common shares is 98422Q106 and the new ISIN is CA98422Q1063.
The new CUSIP of the Company’s warrants issued in connection with the prospectus supplement dated March 14, 2022 is 98422Q114 and the new ISIN is CA98422Q1147.
The Company’s subsidiaries to change names as well
Completion of the Name Change is subject to the receipt of all required regulatory approvals
In connection with the Name Change, two of the Company’s subsidiaries will also change their names accordingly: (i) Patriot One Detection Technologies Inc. (Colorado, USA) will change its name to Xtract One (US) Technologies Inc., and (ii) Patriot One Detection Ltd. (BC, Canada) will change its name to Xtract One Detection Ltd.
Completion of the Name Change is subject to the receipt of all required regulatory approvals, including final approval by the Toronto Stock Exchange (TSX).
Name Change does not affect the Company’s share structure
Shareholders of the Company are not required to exchange their existing share certificates for new certificates bearing the Company’s new name. The Name Change does not affect the Company’s share structure or the rights of the Company’s shareholders.
The announced Name Change from Patriot One Technologies to Xtract One Technologies reflects a customer-focused approach to providing people-first technology security solutions that optimises the user experience while advancing physical safety.
Strategic rebranding to better communicate values, capabilities
“This year, we announced a strategic rebranding to better communicate our values, capabilities and future ambitions,” said Peter Evans, the Chief Executive Officer (CEO) of Patriot One Technologies Inc.
He adds, “Moving to a new stock ticker symbol is an extension of those changes. We continue to focus on delivering value to our investors, believing that the expansive physical security market is looking for solutions that enhance security while also improving the patron experience.”
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