Ottawa, Ontario--(Newsfile Corp. - May 7, 2021) - KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) ("KWESST" or "the Company") is pleased to announce that it will hold an investors update call on Tuesday May 11th, 2021 at 2:00 PM ETD. The details of the call are as follows:
Presenter: David Luxton, Executive Chairman of KWESST
Topics: Mr. Luxton will describe the significance of the Company's acquisition of Low Energy Cartridge ("LEC") systems and the go-to-market strategy for the LEC . The Low Energy Cartridge system is the world's first cartridge based non-lethal weapon system. Mr. Luxton will also update investors on recent successes of the Company's other products initiatives.
Timing: corporate presentation between 2:00 pm EDT and 2:20 pm EDT followed by a Q&A session. Please email your questions to firstname.lastname@example.org prior to or during the meeting.
Meeting ID: 817 4072 3853
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Archive: A replay will be available one hour after the end of the update call on the Company's YouTube channel at: https://www.youtube.com/channel/UCD3LXgwvKbygV8TAMYbxVxw/videos
"This investors update follows the recent closing of the Company's oversubscribed $4.4 million private placement and the acquisition of the Low Energy Cartridge ("LEC") system. The proceeds from this financing will be used to accelerate our go-to-market initiatives of KWESST's various products," said David Luxton, KWESST's Executive Chairman. "One priority for KWESST is to begin the commercialization of the LEC system with an accelerated plan in response to market interest and high growth across all segments of the non-lethal market. In this market, there a strong preference being expressed for a safer, cartridge-based system over traditional systems, such as taser, beanbag shotgun shells and rubber bullets, which can and do result in fatalities."
Mr. Luxton described the LEC system potential markets: "We see the LEC system as having universal application across four market segments that currently use a variety of dated "non-lethal" or "less-lethal" products, each having a vast global market. These segments are (i) public order (riots and control of dangerous subjects), (ii) military and law enforcement training (realistic force-on-force training), (iii) personal defence (home, car, boat, RV, camping, hiking), and (iv) high-action gaming. The kind of fatalities that have led to widespread protests in the U.S. are just one example of the need for more advanced solutions that enable law enforcement to engage with more benign devices from a safer stand-off distance and ensure that everyone goes home alive."
KWESST develops and commercializes high-value ultra-miniaturized technology applications that make a critical difference to the safety and operational effectiveness of personnel in the defence and security industries. The company's current portfolio of unique proprietary offerings include: its signature TASCSTM (Tactical Awareness and Situational Control System) for real-time awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons; the autonomous GreyGhostTM soldier-portable micro drone missile system that defends against small hostile drones including swarms using high-speed kinetic impact; a Ground Laser Defence system to counter the emerging threat of weaponized lasers against personnel; and, the PhantomTM electronic battlefield decoy system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations to deceive and confuse adversaries. All systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems including Frontline, Edge, Killswitch and ATAK (Android Tactical Assault Kit) among others. KWESST also has developmental "smart ordnance" projects including its "Shot Counter" system, which records the number and type of rounds fired, for optimized firearms maintenance and performance. The Company is headquartered in Ottawa, Canada, with representative offices in Washington, DC, London, UK and Abu Dhabi, UAE. KWESST trades on the TSX Venture Exchange under the symbol KWE and on the U.S. OTCQB under the symbol KWEMF.
Contact: Jason Frame, Investor Relations: email@example.com
For more information, please visit https://kwesst.com/
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking information contained herein include, without limitation, statements relating to the intended use of proceeds of the Offering and the receipt of final acceptance of the TSX Venture Exchange. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. KWESST disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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