Core Viewpoint - KWESST Micro Systems Inc. intends to change its name to DEFSEC Technologies Inc. to better reflect its focus on defense and public security technology, with the name change expected to take effect around June 30, 2025, subject to regulatory approval [2][3]. Company Developments - The name change coincides with the opening of a new, larger facility in Kanata North, Ottawa, which is more than twice the size of the previous location and aims to accommodate the company's rapid growth [4]. - The company has received its first order for the Battlefield Laser Detection System from a military systems integrator for a North American armored vehicle program [5]. - The company is focusing on strategic, multi-year contracts with the Canadian Department of National Defence worth up to $75 million through 2028, in partnership with Thales and Akkodis [5]. Product Offerings - KWESST's product portfolio includes the ARWEN line of non-lethal products, which has reportedly saved hundreds of lives, and new PARA "Mini" and "Micro" versions currently under customer evaluation [5]. - The company offers real-time situational awareness solutions, including the Team Awareness Kit (TAK), which is being adopted by NATO countries [5]. - The "Lightning" version of the military-grade situational awareness capability is designed for the public security market and operates under a SaaS model, allowing users to access it on smart devices for a monthly subscription fee [5]. Shareholder Information - No action is required from shareholders regarding the name change, and there will be no change in the company's share capital [6]. - The new CUSIP and ISIN numbers for the common shares have been provided, and existing share certificates will not need to be exchanged [6]. Trading Information - The company's common share purchase warrants will also change trading symbols to "DFSC.WT.U" on the TSXV and "DFSCW" on the Nasdaq [7].

KWESST Receives Order For Prototypes Of Its Next-Generation Battlefield Laser Detection System For Major North American Armored Vehicle Program June 18, 2025 9:10 AM EDT | Source: KWESST Micro Systems Inc. Ottawa, Ontario--(Newsfile Corp. - June 18, 2025) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (FSE: 62U1) ("KWESST" or the "Company"), a leader in advanced tactical systems, today announced receipt of a first order from a defense systems integrator for prototypes of its newest ge ...

Further acceleration in revenue growth:+250% 1H year-over-year+160% Q2 year-over-yearOperating expenses reduced by 36% Q2 year-over-yearCash balance increases by 54% over Q1 Fiscal 2025 to $4.4MOttawa, Ontario--(Newsfile Corp. - May 16, 2025) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company") is pleased to announce the highlights of its second quarter of fiscal 2025 ("Q2 Fiscal 2025") results. This announcement is a summary only and should be ...

Ottawa, Ontario--(Newsfile Corp. - April 21, 2025) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company") announces, subject to the final approval of the TSX Venture Exchange (the "TSXV"), that it will effect a consolidation of the Company' issued and outstanding common shares (each, a "Share") on the basis of twenty-one (21) pre-consolidation Shares for each one (1) post-consolidation Share (the "Consolidation"). The Consolidation will be effecti ...

Ottawa, Ontario--(Newsfile Corp. - April 1, 2025) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company") today announced the results of its special meeting of shareholders (the "Meeting") held virtually via a Zoom video conference on March 31, 2025 at 4:00 PM (Eastern time). The Meeting was called as part of the Company's efforts to regain compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). At the Meeti ...

Core Viewpoint - KWESST Micro Systems Inc. has announced a strategic partnership with U.S.-based Nordon Inc. to enhance its manufacturing capabilities in the United States, aiming to improve product availability and reduce trade barriers while supporting local employment and law enforcement agencies [1][2][3][4]. Group 1: Partnership and Manufacturing Expansion - KWESST has signed a non-binding memorandum of understanding with Nordon Inc. to establish a long-term contract manufacturing arrangement by June 1, 2025 [2]. - The partnership will focus on the production of ARWEN™ less-lethal products, with Nordon already completing tooling for the majority of components related to PARA OPS™ cartridges and projectiles [3]. - This collaboration is expected to strengthen KWESST's U.S. presence and enhance supply chain efficiency while ensuring high-quality production [3][4]. Group 2: Economic and Employment Impact - The partnership with Nordon, a HUBZone-certified manufacturer, is anticipated to drive local employment and support economic development in distressed areas [3]. - KWESST's commitment to U.S. manufacturing is expected to create jobs and contribute to economic growth while providing American-made products to law enforcement [4][6]. Group 3: Strategic Goals and Market Positioning - KWESST aims to enhance product availability and streamline logistics through domestic manufacturing, reinforcing its commitment to quality solutions for law enforcement and civilian markets [4]. - The strategic expansion into U.S. manufacturing addresses logistical challenges and regulatory compliance barriers, ensuring smoother market access for public safety solutions [4]. - KWESST remains committed to maintaining and expanding its manufacturing footprint in Canada for products destined for the Canadian market [4][7].

Core Viewpoint - KWESST Micro Systems Inc. is convening a special shareholder meeting on March 31, 2025, to seek approval for a proposed share consolidation aimed at regaining compliance with Nasdaq's Minimum Bid Price Requirement [1][2][5]. Group 1: Shareholder Meeting Details - The special meeting will take place on March 31, 2025, at 4:00 PM Eastern Time, with relevant materials available on SEDAR+ and the company's website [1]. - Shareholders will vote on the "Consolidation Resolution," which proposes consolidating the company's common shares on a basis of one share for every twenty-five shares outstanding [2][5]. Group 2: Background on Share Consolidation - The need for consolidation arises from a notification received on May 16, 2024, indicating non-compliance with Nasdaq Listing Rule 5550(a)(2) due to the company's share price being below US$1.00 for 30 consecutive business days [3]. - Following a previous consolidation on October 23, 2024, the company was granted an additional 180-day period until May 12, 2025, to regain compliance with the Minimum Bid Price Requirement [4]. Group 3: Implications of Non-Approval - If the Consolidation Resolution is not approved, the company risks serious consequences, including potential delisting from Nasdaq if the share price remains below US$1.00 [6]. - The company asserts that the consolidation is in the best interests of shareholders to ensure compliance with Nasdaq's requirements [7].

Core Points - KWESST Micro Systems Inc. has closed the first tranche of a private placement, raising approximately CAD$3.5 million (around US$2.5 million) [1] - The first tranche included the issuance of 903,700 common shares and 2,884,179 pre-funded warrants at a price of CAD$0.928 (approximately US$0.66) per share or warrant [2] - Each common share or pre-funded warrant was bundled with a common share purchase warrant, exercisable at CAD$1.16 (approximately US$0.817) for 60 months [2] - The company paid a cash fee of CAD$263,636 (7.5% of gross proceeds) and issued 189,394 warrants to ThinkEquity as compensation for services rendered [3] - Due to investor interest, KWESST is increasing the offering size with a second tranche expected to close on or before February 25, 2025, raising an additional CAD$142,070 (approximately US$100,000) [4] - The net proceeds from the offering will be used for general working capital purposes [4] - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or exemption [6] Company Overview - KWESST develops and commercializes next-generation tactical systems for military and security forces, including digitization of tactical forces and countermeasures against various threats [8] - The company is headquartered in Ottawa, Canada, with offices in London, UK, and Abu Dhabi, UAE [8]

Core Points - KWESST Micro Systems Inc. has entered into definitive securities purchase agreements for a private placement, aiming to raise approximately CAD$3.5 million (around US$2.5 million) [1] - The offering includes the issuance of 3,787,879 common shares and/or pre-funded warrants at a price of CAD$0.928 (approximately US$0.66) per share or warrant [2] - The net proceeds from the offering will be used for general working capital purposes [3] Financial Details - The common shares or pre-funded warrants will be bundled with common share purchase warrants, each exercisable at CAD$1.16 (approximately US$0.817) for a period of 60 months [2] - ThinkEquity is acting as the sole placement agent, receiving a cash fee of 7.5% of the gross proceeds and warrants equal to 5.0% of the pre-funded warrants sold [4] Regulatory Information - The offering is subject to approval from the TSX Venture Exchange [5] - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an exemption [6] Company Overview - KWESST develops next-generation tactical systems for military and security forces, including digitization of tactical forces and countermeasures against various threats [8]

Core Viewpoint - KWESST Micro Systems reported a significant revenue growth of 588% in Q1 Fiscal 2025 compared to Q1 Fiscal 2024, indicating a successful transition from development to revenue generation [1][4][2] Financial Performance - Revenue for Q1 Fiscal 2025 reached CAD 887,658, up from CAD 129,068 in Q1 Fiscal 2024, driven by government contracts and the pilot of the Lightning SaaS product [5][4] - Gross profit for the quarter was CAD 404,522, representing a gross margin of 45.6%, a notable improvement from a gross loss of CAD 53,805 in the same period last year [4][5] - Operating loss increased to CAD 2,916,186 in Q1 Fiscal 2025 from CAD 2,508,240 in Q1 Fiscal 2024, reflecting higher operating expenses [5][8] Revenue Drivers - The revenue increase was primarily attributed to the DSEF and Land C4ISR government contracts, the Canadian Red Cross pilot, and growth in the ARWEN business [4][6] - The digitization business line contributed an additional CAD 0.6 million, while the non-lethal business line added CAD 0.1 million from ARWEN product sales [6] Operating Expenses - Total operating expenses rose by CAD 0.9 million year-over-year, driven by increased general and administrative costs, sales and marketing expenses, and research and development expenses [8][9] - General and administrative expenses increased by CAD 0.6 million due to higher professional fees and personnel costs [9] Future Outlook - The company anticipates further revenue growth with the commercial launch of KWESST Lightning and expected demand for new ARWEN products [7] - Management is focused on ramping up activities related to the DSEF and Land C4ISR programs, with a maximum potential workshare of approximately CAD 48 million and CAD 27 million respectively [12] Major Highlights - The company reported CAD 0.8 million in unfavorable changes in the fair value of warrant liabilities and CAD 1.8 million in share offering costs during the quarter [11] - A public offering in November 2024 raised approximately CAD 4.9 million before expenses, indicating strong market interest [13] Financial Position - As of December 31, 2024, total assets were CAD 8,070,198, with cash and cash equivalents significantly increasing to CAD 2,854,256 from CAD 256,828 [10] - Total liabilities decreased to CAD 3,057,657 from CAD 4,248,861, reflecting improved financial health [10]