Patriot One Adds Ridge Global LLC as Strategic Advisor
TORONTO, ON–(Dec 19, 2016) – Patriot One Technologies Inc., (TSX VENTURE: PAT) (OTCQB: PTOTF) (FRA: OPL) (“Patriot One” or the “Company”), developer of a revolutionary concealed weapons detection system, is pleased to announce that it has engaged Ridge Global LLC (“Ridge Global”) as a strategic advisor to support the Company’s market penetration in the United States.
Led by Tom Ridge, former Governor of Pennsylvania and the first U.S. Secretary of the Department of Homeland Security, Ridge Global LLC represents a significant partnership for the Company. Patriot One expects its work with Ridge Global could generate key relationships, opportunities, and support strategic engagement and enhanced service for prospective Patriot One customers.
Ridge Global was founded by Governor Ridge to help organizations decrease security risks. He has assembled a team of globally recognized experts who offer strategic counsel on identifying, preparing for and mitigating cyber risk. For more information on Ridge Global please visit: www.ridgeglobal.com.
Patriot One CEO, Martin Cronin, states, “We are tremendously pleased to announce this partnership. Working with a company with the stature and reach of Ridge Global could greatly accelerate the exposure of our groundbreaking technology to key potential users. Governor Ridge has an unparalleled grasp of the challenges facing those charged with the safety of the American public and we are proud of the confidence he has shown in our technology.”
The Company’s agreement with Ridge Global provides for the payment of a monthly retainer, as well as performance-based bonuses and success fees payable on revenue and market capitalization-based milestones. The Company further announces the grant of 200,000 incentive stock options to Governor Ridge at an exercise price of $1.44, exercisable for a term of four years and vesting in 25% tranches every three months beginning on March 14, 2017.
