Patriot One Technologies Inc., a technology-driven threat detection and patron screening solutions company, has announced that it has received conditional approval from the Toronto Stock Exchange (TSX) to change its name to Xtract One Technologies Inc. The company expects the name change to take effect today.
The company’s common shares, which currently trade under the ticker symbol “PAT” on the TSX are expected to trade under the new symbol “XTRA”.
In connection with the name change, two of the company’s subsidiaries will also change their names accordingly: Patriot One Detection Technologies Inc. (Colorado, US) will change its name to Xtract One (US) Technologies Inc. and Patriot One Detection Ltd. (BC, Canada) will change its name to Xtract One Detection Ltd.
The company highlights that completion of the name change is subject to the receipt of all required regulatory approvals, including final approval by the TSX.
The name change from Patriot One Technologies to Xtract One Technologies reflects a customer-focused approach to providing people-first technology security solutions that optimize the user experience while advancing physical safety, the company emphasizes.
“This year, we announced a strategic rebranding to better communicate our values, capabilities and future ambitions,” said Peter Evans, CEO of Patriot One. “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.”