Ottawa, Ontario--(Newsfile Corp. - April 23, 2025) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or the "Company") previously announced that, 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"). For more informat ...

Core Viewpoint - KWESST Micro Systems Inc. will consolidate its common shares at a ratio of 21 pre-consolidation shares for 1 post-consolidation share, effective April 23, 2025, to comply with Nasdaq's minimum bid price requirements [1][5][8]. Group 1: Share Consolidation Details - The consolidation was approved by shareholders on March 31, 2025, with a maximum ratio of 25 pre-consolidation shares for 1 post-consolidation share, but the Board decided on a 21:1 ratio [2]. - Currently, there are 11,137,638 shares issued and outstanding, which will reduce to approximately 530,363 shares post-consolidation [3]. - No fractional shares will be issued; fractions will be rounded to the nearest whole number [4]. Group 2: Purpose and Impact - The primary purpose of the consolidation is to increase the share price to meet Nasdaq's continued listing requirements [5][8]. - The consolidation will not affect the number of outstanding share purchase warrants, but the number of shares per warrant will be adjusted to 21 warrants for 1 post-consolidation share, with an increased exercise price of US$1,050.00 [7]. - The exercise price and number of shares for other convertible securities will also be proportionately adjusted [8]. Group 3: Company Overview - KWESST develops next-generation tactical systems for military and security forces, including digitization of tactical forces and countermeasures against various threats [9][10]. - The company is headquartered in Ottawa, Canada, with offices in London, UK, and Abu Dhabi, UAE [10].