Xtract One Technologies Expands Leadership Team with Key Hires to Support Strategic Growth

TORONTO, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Xtract One Technologies (TSX: XTRA)(OTCQX: XTRAF)(FRA: 0PL) ("Xtract One" or the "Company"), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, announced today the appointment of two new hires, Joshua Douglas and Christopher Feusner, as the Company's new Senior Vice President (SVP) of Product & Engineering and Vice President (VP) of Sales, respectively.

Joshua is a recognized expert in the fields of behavioral analytics, cybersecurity, and physical security. He joins from Mimecast, where he served as Senior Vice President of Product Management, and adds deep product management and engineering leadership expertise to Xtract One's offerings. Prior to Xtract One, Joshua has also held leadership positions at esteemed companies including Raytheon, Forcepoint, and TRC Companies.

At Xtract One, Joshua will lead the product and engineering groups to accelerate and drive the Company's roadmap in alignment with customer expectations for the future. This role includes building on Xtract One's solutions that are currently in market as well as developing a roadmap for the Company's future product development.

Chris is a 20-year security industry veteran with skills in understanding, developing, and deploying effective go-to-market strategies across multiple industries, forged from his years spent as a systems integrator and a manufacturer. He joins after roles at Avigilon and Motorola Solutions, and most recently at a stealth startup where he served as Vice President of Global Sales, responsible for repositioning the sales organization, shifting the GTM strategy, developing and building a new channel partner program, rebuilding the company's price list, and assisting in preparing the company's 5-year revenue growth plan.

Chris joins the Xtract One team to lead, scale, and oversee the Company's sales team. Key responsibilities include driving the Company's business development, with a focus on expanding the lead funnel and channel partners strategy, as well as exploring new target vertical and international markets.

"We're thrilled to welcome Joshua and Chris to the Xtract One team. Their joining signifies a strategic step towards driving our technological advancements and global implementation of our product," said Peter Evans, CEO of Xtract One. "Their innovative thinking, extensive experience, and deep technological insights align with our mission. Undoubtedly, they will both play a pivotal role in pushing our vision forward and facilitating the growth of our company."

For more on Xtract One, please visit www.xtractone.com.

About Xtract One
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive threat detection systems that enable venue building operators to prioritize and deliver improved patron experiences while providing unprecedented safety. Xtract One's innovative Gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based Software allows venue and building operators to identify weapons and other threats, and receive valuable intelligence for optimizing operations. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn.

Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the Company's limited operating history and lack of historical profits; risks related to the Company's business and financial position; fluctuations in the market price of the Common Shares; that the Company may not be able to accurately predict its rate of growth and profitability; risks related to the COVID-19 pandemic and its impact on the Company, economic conditions, and global markets; reliance on management; the Company's future requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, clients and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

For further information, please contact:

Xtract One Inquiries
[email protected]
http://www.xtractone.com

Investor Relations
[email protected]

Media Contact:
Kristen Aikey
JMG Public Relations
212-206-1645
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1766a481-83c4-474e-b794-4dbe0a797022