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Elisabeth Preston Joins KWESST $KWE.ca $KWEMF Board of Directors $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:49 AM on Wednesday, February 24th, 2021
  • Announced that Elisabeth Preston has joined the Company as a member of the board of directors and will also serve as the Company’s Corporate Secretary.
  • Elisabeth Preston is Chief Legal Counsel for a top tier international defence company with widespread global operations.

Ottawa, Ontario–(February 24, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) is pleased to announce that Elisabeth Preston has joined the Company as a member of the board of directors and will also serve as the Company’s Corporate Secretary.

David Luxton, Executive Chairman of KWESST, said “The entire board extends a very warm welcome to Elisabeth. We are all well acquainted with her by reputation, and I have had the pleasure of working with her directly in other high-growth defence industry ventures where she was a valued colleague and demonstrated an exceptional breadth of knowledge and skills.”

Elisabeth Preston is Chief Legal Counsel for a top tier international defence company with widespread global operations. She is an international business and trade lawyer, with significant transactional experience in many jurisdictions. Her experience spans more than thirty years advising companies as an executive in areas relating to governance, cross-border marketing, strategic relationships, major commercial transactions and financings to fund growth. She has assisted companies to pursue and secure major contracts and to resolve complex international agreements. Elisabeth has worked intensively in the areas of mergers and acquisitions, procurement law, anti-corruption compliance, industrial security, export control and controlled goods as well as labour and employment law. She has also frequently acted as counsel on security-sensitive issues and is one of Canada’s top authorities on ITAR regulations and compliance in the defence industry.

Elisabeth’s practice has also included advising public companies as Chief Legal Officer, General Counsel and in private practice. She has taken several client companies public, and has deep knowledge of the investment banking community, investor relations guidance and public company disclosure and best practices in continuous disclosure. She was also previously the Managing Partner of a major Canadian law firm’s busy Ottawa office.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/755965-elisabeth-preston-joins-kwesst-board-of-directors/messages/2305109#message

KWESST $KWE.ca $KWEMF to Begin Trading on #OTCQB Venture Market $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 12:12 PM on Wednesday, February 3rd, 2021
  • Approved for listing on the OTCQB ® Venture Market (“OTCQB ®”), a US trading platform that is operated by the OTC Markets Group in New York.
  • Effective tomorrow February 4, the Company will commence trading on the OTCQB ® under the symbol KWEMF.

Company establishes U.S. subsidiary and operating facility in Stafford, VA

Ottawa, Ontario–(February 3, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) today announced that its common shares have been approved for listing on the OTCQB ® Venture Market (“OTCQB ®”), a US trading platform that is operated by the OTC Markets Group in New York. Effective tomorrow February 4, the Company will commence trading on the OTCQB ® under the symbol KWEMF.

The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol KWE. Investors can find real-time quote and other information on the Company at https://www.otcmarkets.com/stock/KWEMF/overview. In addition, the Company is pleased to announce that it has received DTC eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States.

KWESST Executive Chairman, David Luxton, commented that, “We have a strong concentration of business with military customers in the U.S., so it makes sense to be listed there. As well, there is obviously a much larger potential investor base in the U.S. with an appetite for exposure to our kind of business. We expect this will expand our shareholder base and the liquidity of the stock to the benefit of all shareholders.”

The Company added that in conjunction with its U.S. listing it has established a wholly-owned U.S. subsidiary and operating facility in Stafford, VA where KWESST systems can be assembled and showcased for U.S. customers.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/754551-kwesst-to-begin-trading-on-otcqb-r-venture-market/messages/2301833#message

VIDEO: Defensive Technologies Leader #KWESST $KWE.ca Featured As Top Pick On BNN $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 3:15 PM on Tuesday, February 2nd, 2021

WHY KWESST? HERE’S SOME GREAT REASONS

1.   KWESST is a leader in defensive technologies that increase the capabilities of soldiers, including
those of NATO and its allies

2.  These technologies make a critical difference to soldier safety and effectiveness

3.  The Leadership team experience spans decades and hundreds of millions of dollars in military and homeland security contracts.

4.  KWESST develops next-generation systems for forces around the world, with a particular focus on special forces among NATO countries and their allies.

Image-1

5.  KWESST partners with globally recognized equipment manufacturers to integrate its systems into
their solutions to create high value-add products for global customers.

Image-2

General Rick Hillier, Former Canadian Chief of the Defence Staff, to Lead KWESST International Advisory Council

  • General Hillier served as Canada’s Chief of Defence Staff CDS from February 4, 2005, to July 1, 2008.
  • He is noted for “getting stuff done” and was instrumental in securing additional funding and modernized equipment for the Canadian military in support of Canada’s mission in Afghanistan.
  • In November 2020, Ontario Premier Doug Ford appointed General Hillier to oversee the province’s vaccination task-force in response to the COVID-19 pandemic.

Hub On AGORACOM / Corporate Profile

General Rick Hillier, Former Canadian Chief of the Defence Staff, to Lead KWESST $KWE.ca International Advisory Council $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:50 AM on Monday, January 25th, 2021
  • General (Retired) Rick Hillier will lead KWESST’s new International Advisory Council, which will provide guidance to the Company on its strategic build-out on a global scale.
  • General Hillier served as Canada’s Chief of Defence Staff (“CDS”) CDS from February 4, 2005, to July 1, 2008.
  • He is noted for “getting stuff done” and was instrumental in securing additional funding and modernized equipment for the Canadian military in support of Canada’s mission in Afghanistan.
  • In November 2020, Ontario Premier Doug Ford appointed General Hillier to oversee the province’s vaccination task-force in response to the COVID-19 pandemic.

Ottawa, Ontario–(January 25, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) today announced that Canadian General (Retired) Rick Hillier will lead KWESST’s new International Advisory Council, which will provide guidance to the Company on its strategic build-out on a global scale. 

General Hillier served as Canada’s Chief of Defence Staff (“CDS”) CDS from February 4, 2005, to July 1, 2008. He is noted for “getting stuff done” and was instrumental in securing additional funding and modernized equipment for the Canadian military in support of Canada’s mission in Afghanistan. In November 2020, Ontario Premier Doug Ford appointed General Hillier to oversee the province’s vaccination task-force in response to the COVID-19 pandemic. 

KWESST Executive Chairman, David Luxton, commented that, “We are delighted and honoured that General Hillier, one of Canada’s most revered and universally respected Chiefs of Defence Staffs, has accepted this lead advisory role at KWESST, and we look forward to his wise counsel.”

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/753848-general-rick-hillier-former-canadian-chief-of-the-defence-staff-to-lead-kwesst-international-advisory-council/messages/2300025#message

KWESST $KWE.ca Enters into Non-Lethal Technology Purchase Agreement $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:34 AM on Monday, January 18th, 2021
  • Entered into a technology purchase agreement with DEFSEC Corporation to acquire a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge technology
  • The LEC Technology is a proprietary non-lethal cartridge-based ordnance system.
  • DEFSEC is an Ottawa-based based private company owned by David Luxton the Executive Chairman of KWESST.

Ottawa, Ontario–(January 18, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) today announced it has entered into a technology purchase agreement (the “Purchase Agreement”) with DEFSEC Corporation (“DEFSEC”) to acquire a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge technology (“LEC Technology”). The LEC Technology is a proprietary non-lethal cartridge-based ordnance system. DEFSEC is an Ottawa-based based private company owned by David Luxton the Executive Chairman of KWESST.

“We see the LEC Technology 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,” said Jeff MacLeod, KWESST Founder and CEO. “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.”

The market development of the LEC Technology will benefit from the deep combined experience of Jeff MacLeod and David Luxton in the specialty ordnance business. Mr. MacLeod is a highly knowledgeable defence industry executive with over 20 years’ experience in the field of small arms and advanced soldier systems. Prior to establishing KWESST, he was the General Manager of Colt Canada, the primary supplier of small arms to the Canadian military. David Luxton was the founder in 1990 of Simunition Inc., a business that develops and sells simulated munitions for realistic close quarters combat training for military and law enforcement around the world. He sold the business to a large military contractor and from 2015 – 2018 he was the Executive Chairman of United Tactical Systems LLC, a U.S. company that develops and sells products for the global less-lethal market.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/753252-kwesst-enters-into-non-lethal-technology-purchase-agreement/messages/2298557#message

KWESST $KWE.ca Announces Additional U.S. Patent Allowance for Phantom Electronic Decoy $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-Eric at 8:58 AM on Wednesday, December 30th, 2020

KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) announced today that the U.S. Patent and Trademark Office (“USPTO”) has issued a Notice of Allowance for a second patent covering KWESST’s “Phantom” electronic decoy system.

KWESST previously announced on October 5th, 2020 the allowance of a first patent covering fifteen claims for a programmable multi-waveform radiofrequency generator capable of broadcasting and emulating all relevant military waveforms to create electronic battlefield decoys that deceive adversaries regarding the location of NATO friendly forces.

The second patent allowance announced today covers eleven additional claims for a programmable multi-waveform radio frequency generator plus associated tactics, techniques and procedures (“TTPs”) for deploying the PhantomTM system.

“This second patent allowance with its set of additional claims substantially enlarges the intellectual property portfolio of the PhantomTM electronic decoy technology,” said Jeff MacLeod, Founder, President and CEO of KWESST.

PhantomTM is the electronic decoy KWESST is bringing to market in 2021 in response to specific military interest in a next-generation system that is ultra-miniaturized for expedient deployment in theaters of operation by ground personnel or on Unmanned Aerial Vehicles (“UAVs”). Phantom mimics all relevant NATO military electronic signal emissions in order to deceive adversaries attempting to locate them based on those waveforms.

Requirements for such a “phantom” capability are now appearing in NATO solicitations for future land Electronic Warfare (EW) systems, driven by contemporary experience in contested areas where forces have been located and destroyed at scale. One publicly reported example is the 2016 incident where two full Ukrainian mechanized battalions were annihilated by Russian adversaries in three minutes with precision mass fire after locating them based on their electronic signal emissions.

The Company commented that it believes the addressable market for the PhantomTM electronic decoy could be $500 million CAD in the U.S. alone, and potentially the same again for other NATO countries and their allies.

About KWESST

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 TASCS (Tactical Awareness 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.

Contact: Jason Frame, Investor Relations: [email protected]

For more information, please visit https://kwesst.com/

VIDEO – KWESST Micro Systems $KWE.ca Soldier Launched Micro Drones, Electronic Soldier Decoys and a $1.1 Million Dollar Follow-On Order From A Key US Military Customer $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:45 AM on Thursday, December 17th, 2020

If you haven’t heard of KWESST Micro Systems (KWE:TSXV) you’re not alone because the Company just listed for trading a couple of months ago – and it is probably the coolest new listing of 2020 if you love high-tech, covert defense systems that we only get to see in Tom Cruise movies.

KWESST is a leader in “soldier systems” which are technologies that increase the capabilities of soldiers,  Let’s be clear right off the start, KWESST doesn’t sell weaponry.  Rather, it sells technologies that make a big difference to the safety and effectiveness of soldiers.

For example, out in a field of combat, soldiers emit Electro Magnetic (EM) signatures that make them detectable by enemy combatants.  KWESST has a battlefield decoy system that creates multiple false phantom signatures to spoof adversaries.  This picture is worth 1,000 words.

We could go on about many other such technologies created by KWESST but this is AGORACOM after all and we want to get down to the business of KWESST, the highlights of which are as follows: 

  • A developer of next-generation systems for forces around the world, including those of NATO and its allies
  • A leadership team whose experience spans decades and hundreds of millions of dollars in military and homeland security contracts
  • A sales and distribution network of agents that spans the globe
  • Partnerships with globally recognized OEM’s, including Samsung
  • A sales pipeline that stood at  $93,000,000 (not a typo) as of August 2020
  • Already generating revenues in 2020

And last but not least, a secret weapon in its Executive Chairman David Luxton, whose companies under his leadership have generated over $1,000,000,000 (Yes, BILLION).

The soldier systems market is projected to hit $14.5 Billion by 2023 and, up until  now, small cap investors have never had a company to participate in this lucrative (and SUPER COOL) market.

Now you do.  Meet KWESST Micro Systems.  Watch this great interview with David Luxton himself to learn more about KWE and why it just received a follow-on order for $1.1 Million from a key US Military Customer.  We’d tell you who it is but we’d then have to release KWE micro drones …. you know the rest.

Watch this interview or listen by Podcast on AppleGoogleSpotify or your favourite podcaster.

KWESST $KWE.ca Extends Option to Acquire Non-Lethal Technology $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 7:47 AM on Tuesday, December 15th, 2020
  • Announced it has extended until January 15, 2021 its option to acquire a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge technology
  • The owner of the LEC Technology is DEFSEC Corporation (“DEFSEC”), an Ottawa-based based private company owned by David Luxton the Executive Chairman of KWESST.
  • KWESST entered into a letter of intent with DEFSEC on June 6, 2020 to acquire the LEC Technology.
  • The parties continue to cooperate and are working toward a definitive agreement.

Ottawa, Ontario–(December 15, 2020) – KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) today announced it has extended until January 15, 2021 its option to acquire a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge technology (“LEC Technology”).

The owner of the LEC Technology is DEFSEC Corporation (“DEFSEC”), an Ottawa-based based private company owned by David Luxton the Executive Chairman of KWESST. KWESST entered into a letter of intent with DEFSEC on June 6, 2020 to acquire the LEC Technology. The parties continue to cooperate and are working toward a definitive agreement.

The LEC Technology is a proprietary non-lethal cartridge-based ordnance system with wide application in the rapidly growing market of soldier and law enforcement training, maintenance of public order, personal defence, and high-action gaming. “The market has long required a safer, lower-cost reliable alternative to existing solutions,” said Jeff MacLeod, KWESST Founder and CEO. “We see the LEC Technology as a strong fit with KWESST’s other smart ordnance technologies, like our Shot Counter system. Together, the LEC Technology and Shot Counter have the potential to anchor the build-out of a significant business unit specialized in smart ordnance systems, with a vast global market.”

The contemplated transaction would benefit from the deep combined experience of Jeff MacLeod and David Luxton in the specialty ordnance business. Mr. MacLeod is a highly knowledgeable defence industry executive with over 20 years’ experience in the field of small arms and advanced soldier systems. Prior to establishing KWESST, he was the General Manager of Colt Canada, the primary supplier of small arms to the Canadian military. David Luxton was the founder in 1990 of Simunition Inc., a business that develops and sells simulated munitions for realistic close quarters combat training for military and law enforcement around the world. He sold the business to a large military contractor and from 2015 – 2018 was the Executive Chairman of United Tactical Systems LLC, a U.S. company that develops and sells products for the global less-lethal market.

The purchase price for the LEC Technology shall be satisfied by the issuance to DEFSEC of 1,000,000 shares of KWESST and 500,000 share purchase warrants of KWESST at a price of $0.70 per share. The warrants shall vest as to 25% on the first anniversary of the closing of the LEC Technology acquisition and 25% on each of the subsequent three anniversaries of the completion of the LEC Technology acquisition. DEFSEC shall also be entitled to a 7% royalty on annual sales of the LEC Technology, net of taxes, duties, customs brokerage fees, shipping and handling costs, customer credits, discounts and returns, up to a cumulative maximum of $10 million. The other terms and conditions of the letter of intent between DEFSEC and KWESST are detailed on pages 16 and 17 of the Company’s Filing Statement dated September 28, 2020 which can be found at www.sedar.com. The acquisition of the LEC technology by KWESST remains subject to the approval of the TSX Venture Exchange.

The Company has granted to each of its three independent directors 250,000 stock options pursuant to the Company’s stock option plan. The stock options will vest over a two-year period and may be exercised at a closing price of the Company’s shares on the TSX Venture Exchange on December 15, 2020. The options will be outstanding for a period of five years from the date of grant. The Company has finalized the shares for debt described in its November 25, 2020 news release.

About KWESST

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 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.

Contact: Jason Frame, Investor Relations: [email protected]

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 statements include, but are not limited to, statements with respect to the timing for the commencement of trading and the plans and operations of KWESST after giving effect to the Qualifying Transaction. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70231

KWESST $KWE.ca Announces C$1.1 Million Follow-on Order For TASCS IFM From Key U.S. Military Customer $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 7:41 AM on Monday, December 14th, 2020
  • Announced a follow-on order for approximately C$ 1.1 million with a key U.S. military customer to expand use of the Company’s TASCS IFM system in military exercises, a key precursor to wider adoption
  • contract is for application of the TASCS IFM system on the 81mm mortar platform, which transforms it into a “smart” weapon system with greater accuracy and faster response time, improving soldier survivability and operational effectiveness.
  • Work under the order is scheduled to commence immediately.
  • Founder, President and CEO Jeff MacLeod commented that, “This marks another key validating milestone in a market where TASCS IFM on the 81mm mortar alone could ultimately be worth up to C$120 million in the U.S. and another C$400 million worldwide, given the large installed base of 81mm mortars in service with so many NATO and allied military forces.”

Ottawa, Ontario–(December 14, 2020) – KWESST Micro Systems Inc. (TSXV: KWE) (“KWESST” or “the Company”) today announced a follow-on order for approximately C$ 1.1 million with a key U.S. military customer to expand use of the Company’s TASCS IFM system in military exercises, a key precursor to wider adoption.

The contract is for application of the TASCS IFM system on the 81mm mortar platform, which transforms it into a “smart” weapon system with greater accuracy and faster response time, improving soldier survivability and operational effectiveness. Work under the order is scheduled to commence immediately.

KWESST Founder, President and CEO Jeff MacLeod commented that, “This marks another key validating milestone in a market where TASCS IFM on the 81mm mortar alone could ultimately be worth up to C$120 million in the U.S. and another C$400 million worldwide, given the large installed base of 81mm mortars in service with so many NATO and allied military forces.”

KWESST previously announced the completion of an earlier two-phase initial contract with the same customer that marked the introduction of TASCS IFM on 81mm mortars in military exercises. “It is very encouraging to see the accelerated pace at which this important customer is expanding the use of TASCS IFM in its field exercises, and their confidence in KWESST,” added MacLeod. “It is an honor to be working with them to enhance soldier survivability and effectiveness, which is our core mission.”

As previously announced, the TASCS IFM system has attracted interest from other NATO forces who have requested proposals from KWESST, which the Company is currently actioning. “The fact that the TASCS IFM confers so many modernization advantages without any modification to weapon platforms or munitions is a huge attraction,” said MacLeod.

He added that, “The 81mm mortar is just one of many different weapon platforms that can be transformed into a smart system with TASCS IFM, providing soldiers on the ground with real-time networked situational awareness and precision targeting information.” Accordingly, KWESST is pursuing additional global markets for the TASCS IFM, which can also work on platforms such as: 60mm mortars; grenade launchers; sniper rifles; drones; electronic decoys; and more, with a total addressable market of more than C$1 billion.

About KWESST

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 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.

Contact: Jason Frame, Investor Relations: [email protected]

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 statements include, but are not limited to, statements with respect to the plans and operations of KWESST. 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.



Image: TASCS IFM System on M252 (81mm)

To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/7366/70148_ccd0de0d64153b68_001full.jpg

UK to invest in #AI and #cyber as part of major #defense spending hike – SPONSOR: KWESST Micro Systems $KWE.ca $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 3:39 PM on Monday, November 30th, 2020

SPONSOR POST:

WHY KWESST? HERE’S SOME GREAT REASONS

1.   KWESST is a leader in defensive technologies that increase the capabilities of soldiers, including
those of NATO and its allies

2.  These technologies make a critical difference to soldier safety and effectiveness

3.  The Leadership team experience spans decades and hundreds of millions of dollars in military and homeland security contracts.

4.  KWESST develops next-generation systems for forces around the world, with a particular focus on special forces among NATO countries and their allies.

Image-1

5.  KWESST partners with globally recognized equipment manufacturers to integrate its systems into
their solutions to create high value-add products for global customers.

Image-2

UK to invest in AI and cyber as part of major defense spending hike

By: Natasha Lomas

The UK has announced a massive boost in defense spending — £16.5 billion ($21.8BN) over four years, the biggest such spending bump for 30 years — in what prime minister Boris Johnson has described as a “once in a generation modernization” of the UK’s armed forces and “the end of the era of retreat” on funding for defense.

Overall the UK prime minister said the spending hike will create 40,000 jobs, adding that it will cement the country’s position as the biggest military defense spender in Europe and the second largest in NATO after the US.

Johnson said the focus for investment will be on cutting edge technologies that can “revolutionize” warfare — implying a major role for artificial intelligence and sensor-laden connected hardware in “forging our military assets into a single network designed to overcome the enemy”, as he put it in a statement to parliament, setting out the first conclusions from an the (ongoing) review of security, defense, development and foreign policy.

“A soldier in hostile territory will be alerted to a distant ambush by sensors or satellites or drones instantly transmitting a warning using artificial intelligence to device the optimal response and offering an array of options — from summoning an air strike to ordering a swarm attack by drones, or paralyzing the enemy with cyber weapons,” Johnson told the House of Commons today, speaking via video conference as he continues to self isolate following a coronavirus contact.

“New advances will surmount the old limits of logistics,” he went on, fleshing out the rational for spending on upgrading military technology. “Our warships and combat vehicles will carry directed energy weapons — destroying targets with inexhaustible lasers. And for them the phrase out of ammunition will become redundant.”

“Nations are racing to master this new doctrine of warfare and our investment is designed to place Britain among the winners,” he added.

The review sets out at least £1.5BN extra — and £5.8BN total — spending on military R&D which Johnson said would be “designed to master the new technologies of warfare”.

There will also be a new R&D center set up with a dedicated focus on artificial intelligence, he added.

An RAF Space Command center is also in the works — with the aim of launching British satellites including the UK’s first rocket from Scotland in 2022.

While the airforce will get new fighter system that Johnson specified will incorporate AI and drone technology.

He also confirmed the existence of a National Cyber Force — a joint unit consisting of personnel from the UK’s intelligence agencies and military personnel which runs cyberops targeting terrorism, organized crime and hostile foreign state actors.

He suggested the hike in military spending on emerging technologies will filter down into wider societal tech gains, telling MPs: “The returns will go far beyond our armed forces — from aerospace to autonomous vehicles — these technologies have a vast array of civilian applications, opening up new vistas of economic progress.”

Responding to Johnson’s statement, the leader of the opposition, Keir Starmer, welcomed the announcement of increased spending for defense and the armed forces — but accused the government of issuing another “press release without a strategy” — pointing out that successive Conservative governments have eroded defense spending over the past ten years.

“This is a spending announcement without a strategy. The government has yet again pushed back vital parts of the integrated review and there’s no clarity over the government’s strategic priorities,” said Starmer, going on to query how the spending hike would be funded, given the economic crunch facing the UK as a result of the pandemic — asking whether it will require tax rises or cuts to public spending elsewhere, such as to the international development budget.

Starmer also raised the awkward matter of the Russia report — wondering why Johnson’s government has not acted on the “urgent” national security risks identified there.

The report, by parliament’s intelligence and security committee, found the UK lacks a comprehensive and cohesive strategy to respond to the cyber threat posed by Russia and other hostile states that are deploying online disinformation and influence ops to target democratic institutions and values.

It also sounded the alarm about how much Russian money is finding its way into UK political party coffers.

“The prime minister speaks of tackling global security threats, improving cyber capability — and that is all welcome, and we welcome it — but four months after the intelligence and security committee published its report concluding that Russia posed… an immediate and urgent threat to our national security,” noted Starmer.

Replying, Johnson dodged all Starmer’s questions — branding his criticisms “humbug [that] takes the cake” and opting to attack the Labour leader for having served under the party’s former leader, Jeremy Corbyn, who did not support increasing UK defense spending.

Source: https://techcrunch.com/2020/11/19/uk-to-invest-in-ai-and-cyber-as-part-of-major-defense-spending-hike/