Core Viewpoint - KWESST Micro Systems Inc. is implementing a share consolidation of 21 pre-consolidation shares for each post-consolidation share, subject to final approval from the TSX Venture Exchange [1][4]. Group 1: Share Consolidation Details - The consolidation will take effect at 12:01 a.m. Eastern Daylight Time on April 23, 2025, for Nasdaq and on April 24, 2025, for TSXV, with trading halted on April 23 and resuming on a consolidated basis on April 24 [2]. - The new CUSIP number for post-consolidation shares will be 501506802, and the new ISIN number will be CA5015068029 [2]. Group 2: Impact on Warrants - The consolidation will not affect the number of issued and outstanding share purchase warrants, but the number of shares issuable upon exercise will be reduced, requiring 210 warrants to purchase one post-consolidation share at an exercise price of US$1,050.00 [3]. Group 3: Rationale for Consolidation - The company believes the consolidation is in the best interests of shareholders to ensure compliance with Nasdaq's minimum bid price requirements [4]. Group 4: Company Overview - KWESST develops next-generation tactical systems for military and security forces, including real-time situational awareness and countermeasures against various threats [5].
KWESST Announces Clarification of its Share Consolidation and Effectiveness