17:02:30 EST Fri 10 Jan 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Kwesst Micro Systems Inc (2)
Symbol KWE
Shares Issued 11,076,742
Close 2024-08-13 C$ 0.20
Market Cap C$ 2,215,348
Recent Sedar Documents

Kwesst Micro closes $943,000 (U.S.) offering

2024-08-13 18:15 ET - News Release

Mr. David Luxton reports

KWESST MICRO SYSTEMS INC. ANNOUNCES CLOSING OF REGISTERED DIRECT OFFERING

Kwesst Micro Systems Inc. has closed its previously announced registered direct offering for the purchase and sale of 4,715,000 common shares at a purchase price of 20 cents per common share. In a concurrent private placement, the company issued unregistered warrants to purchase up to 4,715,000 common shares at an exercise price of 25 cents per share that were immediately exercisable upon issuance and will expire five years following the date of issuance. All dollar amounts in this news release are in United States dollars.

H.C. Wainwright & Co. LLC acted as the exclusive placement agent for the offering.

The gross proceeds to the company from the offering were approximately $943,000 before deducting placement agent fees and other offering expenses payable by the company. The company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The common shares (but not the unregistered warrants and the common shares underlying the unregistered warrants) described above were offered by the company pursuant to a shelf registration statement on Form F-3 (file No. 333-277196) that was filed with the U.S. Securities and Exchange Commission (SEC) on Feb. 20, 2024, and declared effective by the SEC on March 4, 2024. The offering of the common shares was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and accompanying prospectus relating to the registered direct offering were filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained on the SEC's website, or by contacting H.C. Wainwright at (third floor) 430 Park Ave., New York, N.Y., 10022, by phone at 212-856-5711 or e-mail at placements@hcwco.com.

About Kwesst Micro Systems Inc.

Kwesst develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company's current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons. Other Kwesst products include countermeasures against threats, such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM (original equipment manufacturer) products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary non-lethal product line branded Para Ops, with application across all segments of the non-lethal market, including law enforcement. The company is headquartered in Ottawa, Canada, with representative offices in London in the United Kingdom and Abu Dhabi in the United Arab Emirates.

We seek Safe Harbor.

© 2025 Canjex Publishing Ltd. All rights reserved.