Agoracom Blog Home

Posts Tagged ‘Samsung’

KWESST $KWE.ca $KWEMF Announces Upsizing of Previously Announced Brokered Private Placement $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:37 AM on Friday, April 9th, 2021

  • Announce that in connection with its previously announced brokered private placement (the “Offering“), the Company and PI Financial Corp., the lead agent and sole bookrunner (the “Lead Agent“) for the Offering, have agreed to increase the size of the Offering to raise total gross proceeds of $4 million.
  • The Company now intends to issue 3,200,000 units of the Company (the “Units“) at a price of C$1.25 per Unit.
  • The 3,200,000 Units have been allocated to subscribers and the Offering is scheduled to close on or about April 29, 2021, or such date as agreed upon between the Company and the Lead Agent.
  • Given the upsize to the Offering, the parties have agreed to remove the previously announced over-allotment option.

Ottawa, Ontario–(April 9, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) is pleased to announce that in connection with its previously announced brokered private placement (the “Offering“), the Company and PI Financial Corp., the lead agent and sole bookrunner (the “Lead Agent“) for the Offering, have agreed to increase the size of the Offering to raise total gross proceeds of $4 million. The Company now intends to issue 3,200,000 units of the Company (the “Units“) at a price of C$1.25 per Unit. The 3,200,000 Units have been allocated to subscribers and the Offering is scheduled to close on or about April 29, 2021, or such date as agreed upon between the Company and the Lead Agent. Given the upsize to the Offering, the parties have agreed to remove the previously announced over-allotment option.

“The KWESST Offering was very well received by investors and resulted in significant demand for our financing, which led to the increase in size announced today. The proceeds will be used to accelerate our go-to market initiatives of KWESST’s various products,” said Jeffrey MacLeod, KWESST’s President and CEO. “One of our priorities is to finalize the acquisition of the Low Energy Cartridge (“LEC”) non-lethal system, which is expected to close concurrently with the Offering, after which we will begin the commercialization of this product. The Company has an accelerated plan to roll out the LEC product in response to market interest and high growth across all segments of the non-lethal market where a strong preference is being expressed for a safer, cartridge-based system over traditional systems such as Taser, beanbag shotgun shells and rubber bullets that can and do result in fatalities.”

Other corporate priorities to be funded with the proceeds from the Offering include the productization of the GreyGhost micro-drone missile, ramping up the Company’s ATAK Centre of Excellence business, and accelerating the productization of the Phantom electronic decoy.

Each Unit will be comprised of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (“Warrant“). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price of C$1.75 per Warrant Share for a period of 24 months from the closing of the Offering. If at any time after four (4) months and one (1) day following the Closing Date, the trading price of the Shares on the TSX Venture Exchange is equal to or exceeds $3 for a period of 10 consecutive trading days, as evidenced by the price at the close of market, the Company shall be entitled to notify the holders of Warrants of its intention to force the exercise of the Warrants. Upon receipt of such notice, the holders of Warrants shall have 30 days to exercise the Warrants, failing which the Warrants will automatically expire.

The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. It is not a requirement for the closing of the Offering that the Company issues the entire 3,200,000 Units referenced above. The Units to be issued under the Offering will have a hold period of four months and one day from Closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758779-kwesst-announces-upsizing-of-previously-announced-brokered-private-placement/messages/2311369#message

KWESST $KWE.ca $KWEMF Releases Video and Photos Of TASCS IFM For 81 mm Mortar in U.S. Military Exercises $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:25 AM on Thursday, April 8th, 2021
  • Release approved footage and pictures of the KWESST TASCS Integrated Fires Module (“IFM”) in action in live-fire exercises at a U.S. military base.
  • These exercises are being held pursuant to a contract with a key U.S. military customer
  • Video and photos depict the TASCS IFM system fitted on the 81 mm mortar and firing at a range of 2,600 metres.

Ottawa, Ontario–(April 8, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) is pleased to release approved footage and pictures of the KWESST TASCS Integrated Fires Module (“IFM”) in action in live-fire exercises at a U.S. military base. These exercises are being held pursuant to a contract with a key U.S. military customer (for further information please see the December 2020 news release at https://kwesst.com/news/kwesst-announces-c1-1-million-follow-on-order-for-tascs-ifm-from-key-u-s-military-customer-2/ ) which is currently being delivered.



Cannot view this video? Visit:
https://www.youtube.com/watch?v=K4oOEczVOkM

The pictures are available at: https://kwesst.com/systems/tascs-ifm/

The video and photos depict the TASCS IFM system fitted on the 81 mm mortar and firing at a range of 2,600 metres. With TASCS IFM, the mortar team is able to acquire targets in 15 seconds compared to the traditional 15 minutes, and engage targets with unprecedented accuracy. The 81mm mortar is just one of many firing platforms that can be fitted with the TASCS IFM systems and requires no modification of the firing platform or ammunition. It effectively turns a traditional “dumb” firing platform into a “smart” weapons system by providing soldiers on the ground with real-time networked situational awareness and precision targeting information.

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 Awareness 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 and on the U.S. OTCQB under the symbol KWEMF.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758710-kwesst-releases-video-and-photos-of-tascs-ifm-for-81-mm-mortar-in-u-s-military-exercises/messages/2311218#message

KWESST $KWE.ca $KWEMF Announces C$2.5 Million Brokered Private Placement Financing $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 3:56 PM on Tuesday, April 6th, 2021
  • Entered into an agreement with PI Financial Corp., as lead agent and sole bookrunner, on its own behalf and, if applicable, on behalf of a syndicate of agents in connection with a best efforts, private placement of up to 2,000,000 units of the Company at a price of C$1.25 per Unit for gross proceeds of up to C$2,500,000

Ottawa, Ontario–(April 6, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) is pleased to announce that it has entered into an agreement with PI Financial Corp., as lead agent and sole bookrunner (the “Lead Agent“), on its own behalf and, if applicable, on behalf of a syndicate of agents (together with the Lead Agent, the “Agents“) in connection with a best efforts, private placement of up to 2,000,000 units of the Company (the “Units“) at a price of C$1.25 per Unit (the “Offering Price“) for gross proceeds of up to C$2,500,000 (the “Offering“).

Each Unit will be comprised of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (“Warrant“). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price of C$1.75 per Warrant Share for a period of 24 months from the closing of the Offering. If at any time after four (4) months and one (1) day following the Closing Date, the trading price of the Shares on the TSX Venture Exchange is equal to or exceeds $3 for a period of 10 consecutive trading days, as evidenced by the price at the close of market, the Company shall be entitled to notify the holders of Warrants of its intention to force the exercise of the Warrants. Upon receipt of such notice, the holders of Warrants shall have 30 days to exercise the Warrants, failing which the Warrants will automatically expire.

The Agents will have an option (the “Agents’ Option“) to offer for sale up to an additional 400,000 Units at the Offering Price for additional gross proceeds of up to C$500,000, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.

The Company stated that proceeds from the financing would be used to close the acquisition of the Low Energy Cartridge non-lethal system and begin the commercialization of this product, accelerate productization of the GreyGhost micro-drone missile, ramp up the Company’s ATAK Centre of Excellence and accelerate productization of the Phantom electronic decoy.

The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The Offering is scheduled to close on or about April 29, 2021, or such date as agreed upon between the Company and the Lead Agent (the “Closing“) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from Closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758603-kwesst-announces-c-2-5-million-brokered-private-placement-financing/messages/2311011#message

KWESST $KWE.ca $KWEMF Signs Exclusive Counter-Drone Technology License Agreement $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:46 AM on Tuesday, April 6th, 2021

Amended license with AerialX Drone Solutions Inc. provides for exclusive rights to U.S. and Canadian militaries

  • Announced that it has signed an Amended and Restated License Agreement with AerialX Drone Solutions Inc. for counter-drone technology. I
  • n October 2019 KWESST signed a non-exclusive worldwide license with AerialX and has now gained exclusive rights to the technology for U.S. and Canadian militaries.
  • The product which is based on the licensed technology is being marketed under the name GreyGhostTM and is an autonomous soldier-portable micro drone missile system that defends against small hostile drones including swarms using high-speed kinetic impact.

Ottawa, Ontario–(April 6, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) today announced that it has signed an Amended and Restated License Agreement (the “Agreement”) with AerialX Drone Solutions Inc. (“AerialX”) for counter-drone technology. In October 2019 KWESST signed a non-exclusive worldwide license with AerialX and has now gained exclusive rights to the technology for U.S. and Canadian militaries. The product which is based on the licensed technology is being marketed under the name GreyGhostTM and is an autonomous soldier-portable micro drone missile system that defends against small hostile drones including swarms using high-speed kinetic impact.

The dramatic growth of small unmanned aircraft systems (sUAS), commonly called drones, creates new threats and challenges for NATO countries including the US Department of Defense (DoD) and Canada’s Department of National Defence (DND). Recent technology trends have enabled state actors, non-state actors, terrorist organizations and criminals to easily convert legitimate applications of sUAS into efficient weapons. These small drones provide NATO adversaries with a low-cost means of conducting intelligence, surveillance, and reconnaissance missions or direct attack of NATO forces.

“This is a timely development as the U.S. and other NATO military agencies have expressed interest in our GreyGhostTM counter-sUAS drone missile and view it as a serious candidate solution to the growing threat of suspicious or hostile drones,” said David Luxton, KWESST’s Executive Chairman. “Our GreyGhostTM counter-sUAS drone missile has been down-selected by key agencies from among dozens of contenders for upcoming demonstrations and trials because of its unique ability to track and hunt hostile drones and neutralize them with kinetic impact.”

“The Pentagon last year established the Army-led Joint Counter-Small Unmanned Aircraft Systems Office, or JCO, and approved a set of requirements to help counter the threat posed by small drones and formalized requirements for how technology developed by industry players can seamlessly plug into a single command-and-control system. Evaluation of industry counter drone systems are expected to be ongoing throughout 2021,” said Jeff MacLeod, KWESST’s President and CEO. “In the U.S. and in 2021 alone, DoD plans to spend at least USD $404 million on counter-UAS (c-UAS) research and development and at least $83 million on c-UAS procurement(1).”

The counter drone market has grown considerably in recent years, with both major defense contractors and small technology companies actively competing to gain market share in a market that by one estimate could be worth $5.4 billion by 2028(2).

Under the Agreement announced today, KWESST’s also retains its non-exclusive worldwide rights. KWESST has agreed to issue AerialX 100,000 shares of KWESST in consideration of the new exclusive rights and an additional 100,000 shares of KWESST upon AerialX meeting certain technological milestones.

(1) https://fas.org/sgp/crs/weapons/IF11426.pdf
(2) https://www.c4isrnet.com/unmanned/2019/12/11/pentagon-wants-to-streamline-its-counterdrone-focus/

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758569-kwesst-signs-exclusive-counter-drone-technology-license-agreement/messages/2310954#message

KWESST Micro Systems Announces Results of 2021 Annual General and Special Meeting of Shareholders $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:44 AM on Thursday, April 1st, 2021

Ottawa, Ontario–(April 1, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) announces the results of its 2021 Annual and Special Meeting of shareholders held on Wednesday, March 31, 2021 in virtual format.

Shareholders approved all the resolutions detailed in the management information circular of the Company dated February 11, 2021, namely:

  • Electing all the nominees to the Board of Directors of the Company;
  • Appointing KPMG LLP as auditor of the Company for the ensuing year and authorizing the directors to determine the auditor’s compensation; and,
  • Approving the Company’s long term incentive plan.

The Company also provided the following general business update to investors.

Current contract with U.S. military for TASCS IFM product

The Company reported that it is progressing on schedule and to budget in the delivery of its $1.1M contract for TASCS (Tactical Awareness Situational Control System) IFM (Integrated Fires Module) systems for the 81mm mortar to a key U.S. military customer.

In March 2021, KWESST announced the successful integration of TASCS IFM into the Android Tactical Assault Kit (ATAK), the pre-eminent battlefield management system used by more than a dozen U.S. government agencies and many NATO allies and partner nations.

This integration opens the door to further deployment of the Company’s systems to military customers. The Company will now proceed to the next phase of the contract, involving live-fire trials at various U.S. military bases with full delivery of the contract expected in the current fiscal year.

Progress on other product introduction to the marketplace

GreyGhostTM

GreyGhostTM is a drone whose principal function and operation is acting as a projectile to intercept aerial threats using kinetic (i.e. motion-related) force. GreyGhostTM addresses a concern for deployed military and many security agencies arising from the proliferation of small drones and the potential hazards they pose to troops, sensitive infrastructure and the public at large.

Current methods to tackle this concern include electronic counter-measures which attempt to disrupt communication protocols. Other systems, such as net capture, have a short range and can only deal with one target at a time. The Company’s licensed micro-drone missile technology provides a kinetic interceptor to engage drones threats. With a range in excess of three kilometers, the Company’s GreyGhostTM locks on to a target. Once in attack mode, it will track and repeatedly impact the target drone until it is destroyed. Multiple GreyGhostTM missiles can be launched concurrently to deal with multiple targets simultaneously.

The Company reported that GreyGhostTM is among a small handful of counter-measures against small drones recently down-selected by the U.S. military joint program for further evaluation.

PhantomTM

PhantomTM is a compact, lightweight and selectively electromagnetic transmitter capable of mimicking the electromagnetic footprint of a tactical military units. Recent interest from NATO agencies and defence contractors for this product has resulted in KWESST moving up the production of demonstration samples of PhantomTM in the Company’s priorities.

Non-Lethal Low Energy Cartridge (LEC) System

KWESST management reminded shareholder that the acquisition of the Non-Lethal Low Energy Cartridge (LEC) System is expected to close shortly and KWESST has begun plans to implement rapid productization. For further details on the proposed acquisition, please refer to the Company’s January 18, 2021 and March 23, 2021 news releases.

The LEC system is a proprietary non-lethal cartridge-based ordnance system developed by David Luxton the Executive Chairman of KWESST. The LEC system is a novel proprietary combination of cartridges that fire from a dedicated firing device, with a range of projectile payloads specific to the intended application. The LEC system comprises three main aspects: (i) a dedicated firing platform in a non-standard calibre to ensure “live fire exclusion” for safety; (ii) a non-lethal low energy cartridge case and actuator; and (iii) a non-lethal polymer projectile with various payloads depending on the intended application (public order, training, personal defence or high-action gaming). The calibration of energy dynamics between the firing platform, the energy in the cartridge and the velocity of the projectile combine to ensure reliable functioning of the firing platform and terminal effects that are non-lethal. There are two versions of the LEC cartridge: (i) one for non-reciprocating firing platforms that look like revolvers and shotguns; and (ii) one for reciprocating firing platforms that look like automatic pistols, sub-machine guns and assault rifles.

Active contract pursuits and government funding proposals

The Company reported increased activity in contract proposals and government funding applications. “While we are not able to control the certainty or timing of contracts and funding, we are hopeful that a good portion of our recent efforts will mature in our current fiscal year,” said Jeff MacLeod, KWESST Founder, President and CEO.

Incremental near-term revenue from ATAK Centre of Excellence

“As announced on March 30, we also expect an incremental revenue contribution starting in this fiscal year from our ATAK Centre of Excellence,” said MacLeod. “Some of this work has already begun and we are ramping up to service more government agencies and defence companies who have approached us to develop and support their ATAK applications.”

Industrial Tax Benefits (ITB) credit (typically known outside Canada as “Offsets”)

In a new development, the Company reported that it has begun discussions with a major foreign defence contractor for near-term and potential future defence program work under which the contractor could receive favorable ITB credits for inclusion of KWESST in its supply chain. This has the potential to accelerate and expand the Company’s stated go-to-market strategy of partnering with large defence contractors.

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758375-kwesst-micro-systems-announces-results-of-2021-annual-general-and-special-meeting-of-shareholders/messages/2310576#message

KWESST $KWE.ca $KWEMF Establishes ATAK Centre of Excellence in Ottawa $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:02 AM on Tuesday, March 30th, 2021

Incremental, near-term recurring revenue stream from support services

  • Announced that it has established an ATAK Centre of Excellence in Ottawa.
  • The centre will facilitate customer requirements for integration into the U.S. battlefield management application known as ATAK (Android Tactical Assault Kit).

Ottawa, Ontario–(March 30, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) today announced that it has established an ATAK Centre of Excellence in Ottawa. The centre will facilitate customer requirements for integration into the U.S. battlefield management application known as ATAK (Android Tactical Assault Kit).

ATAK is an Android geospatial and situational awareness system that provides users with a drop-down menu of approved operational applications for shared situational awareness. It is the pre-eminent system used by more than a dozen U.S. government agencies and many NATO allies and partner nations.

As mentioned in the Company’s announcement of March 16th, 2021, KWESST was officially sponsored by U.S. military authorities to integrate certain of the Company’s networked soldier applications into ATAK. In conjunction, the U.S. military provided KWESST with specialized software necessary for this work.

“Since then, we have received many requests from government agencies and defence contractors in Canada and overseas to assist them with integrating their current or new applications into ATAK and providing through-life support,” said Jeff MacLeod, KWESST President and CEO. He added that, “We are already engaged with a number of customers and have many others in the queue. As a result we are ramping up a dedicated practice for this and leveraging our expertise in ATAK integration.”

The Company stated that its ATAK Centre of Excellence is a natural extension of its core business around digitizing applications “at the tactical edge” for shared situational awareness and targeting. KWESST’s other applications include its TASCS system and its related Integrated Fires Module (IFM) application, currently being delivered to a major U.S. military customer.

“Apart from the revenue potential, this further positions KWESST as a leader in the digitization of land forces at the tactical level, pushing critical information and high-value applications to the individual soldier on the ground and back up through the chain of command,” said MacLeod. “This continues to be a key missing link in the modernization of soldier systems.”

The Company added that digitization of land forces at the tactical level is happening now and happening everywhere. One market study(1) projects it to be worth more than $15B CAD by 2024. “To our knowledge, KWESST is the only Canadian company with the credentials, official U.S. military sponsorship, specialized software and the experience to facilitate ATAK integration,” said MacLeod.

The Company stated that its ATAK Centre of Excellence can assist government and industry clients with end-to-end ATAK application development, facilitate approval with U.S. ATAK authorities, and provide ongoing support. “We believe that this can contribute incrementally to our 2021 revenue plan, with recurring support revenue growth in out-years,” concluded MacLeod.

(1) https://www.marketsandmarkets.com/Market-Reports/soldier-system-market-137230260.html

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/758213-kwesst-establishes-atak-centre-of-excellence-in-ottawa/messages/2310248#message

AGORACOM Small Cap 60: KWESST $KWE.ca $KWEMF – A Leader In Defensive Technologies That Increase The Capabilities of Soldiers $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 12:16 PM on Tuesday, March 23rd, 2021

KWESST $KWE.ca $KWEMF Announces Filing of Provisional Patent for Non-Lethal Munitions Technology System $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:25 AM on Tuesday, March 23rd, 2021
  • LEC Technology is a proprietary non-lethal cartridge-based ordnance system developed by David Luxton the Executive Chairman of KWESST
  • KWESST has received confirmation from intellectual property counsel that provisional patents for the LEC Technology have been filed by David Luxton, the inventor of the technology.
  • These patents will be assigned to KWESST upon closing of the acquisition.
  • KWESST has also received approval from the TSX Venture Exchange to proceed with the acquisition.
  • The closing of the acquisition is expected to take place shortly.

Ottawa, Ontario–(March 23, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or the “Company”) today provided an update on its planned acquisition of a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge technology (“LEC Technology”) (for further details on the proposed acquisition, please refer to the Company’s January 18, 2021 news release). The LEC Technology is a proprietary non-lethal cartridge-based ordnance system developed by David Luxton the Executive Chairman of KWESST. KWESST has received confirmation from intellectual property counsel that provisional patents for the LEC Technology have been filed by David Luxton, the inventor of the technology. These patents will be assigned to KWESST upon closing of the acquisition. KWESST has also received approval from the TSX Venture Exchange to proceed with the acquisition. The closing of the acquisition is expected to take place shortly.

The LEC Technology is a novel proprietary combination of cartridges that fire from a dedicated firing device, with a range of projectile payloads specific to the intended application. The LEC Technology system comprises three main aspects: (i) a dedicated firing platform in a non-standard calibre to ensure “live fire exclusion” for safety; (ii) a non-lethal low energy cartridge case and actuator; and (iii) a non-lethal polymer projectile with various payloads depending on the intended application (public order, training, personal defence or high-action gaming). The calibration of energy dynamics between the firing platform, the energy in the cartridge and the velocity of the projectile combine to ensure reliable functioning of the firing platform and terminal effects that are non-lethal (typically by ensuring muzzle velocity remains under 400 fps). There are two versions of the LEC cartridge: (i) one for non-reciprocating firing platforms, such as revolvers and shotguns; and (ii) one for reciprocating firing platforms, such as automatic pistols, sub-machine guns and assault rifles.

“Competing products such as traditional air-powered systems for public order, personal protection and gaming have limitations which the LEC Technology does not,” said Jeff MacLeod, President and CEO of KWESST. “Air powered systems require high maintenance due to synthetic seals and “O” rings that dry out or burst, leading to complete failure. They have variable performance due to the effect of ambient temperature on compressed gas, especially in cold weather. Systems utilizing compressed gas, cannot typically be stored with gas in the system as the afore mentioned seals and “O” rings will allow the gas to escape over time, potentially rendering the device unusable when needed the most. Other alternatives, such as Taser, carried by some 400,000 American patrol officers, can also be unreliable in certain situations with, as an example, an effectiveness rating of 57.1% being reported by LAPD(1)”

“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,” observed David Luxton.

The LEC Technology has 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.

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.

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.

VIDEO – KWESST $KWE.ca $KWEMF Hits A Key Milestone In The Digitization of The Modern Army $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 4:10 PM on Wednesday, March 17th, 2021

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.

soldier

Or perhaps the “TASCS” – Tactical Awareness and Situational Control System

An App and snap-on weapon adaptor that enables real-time streaming of situational awareness data of any kind from any source, including drones, direct to smart display devices and operational assets, for a common operating picture and networked engagement.

Devices-10

The company successfully achieved an important milestone under the contract announced in December 2020 for a key military customer.

This milestone entailed the integration of the Company’s TASCS IFM (Integrated Fires Module) for the 81mm Mortar Fire Control System into the Android Tactical Assault Kit (ATAK), the preeminent battlefield management system for NATO countries . As a result, the Company will now proceed to the next phase of the contract, involving live-fire trials at various U.S. military bases.

A world-first in digitizing the function of a mortar team, from the identification of the target to the aiming of the mortar.

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
  • Received a follow-on order for $1.1 Million from a key US Military Customer. 

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.

KWESST $KWE.ca $KWEMF Completes Successful Integration of TASCS IFM for 81mm Mortar into “ATAK” for Key U.S. Military Customer $WRTC $BYRN.ca $PAT.ca $POWW

Posted by AGORACOM-JC at 8:53 AM on Tuesday, March 16th, 2021
  • A key milestone in digitization of the modern army
  • KWESST extending its ATAK integration capability to other customers and OEMs

Ottawa, Ontario–(March 16, 2021) – KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Company”) today announced that it has successfully achieved an important milestone under the contract announced in December 2020 for a key military customer.

This milestone entailed the integration of the Company’s TASCS (Tactical Awareness Situational Control System) IFM (Integrated Fires Module) for the 81mm Mortar Fire Control System into the Android Tactical Assault Kit (ATAK), the preeminent battlefield management system for NATO countries . As a result, the Company will now proceed to the next phase of the contract, involving live-fire trials at various U.S. military bases.

“TASCS is designed to integrate into any battlefield management application,” said Jeff MacLeod, KWESST Found, President and CEO. “However, ATAK is the foremost and ubiquitous NATO battlefield management application, therefore we view the successful integration of TASCS applications into ATAK as key to widespread adoption of our TASCS system, and are pleased to have achieved this milestone event.”

The TASCS IFM Fire Control System for the 81mm mortar is a world-first in digitizing the function of a mortar team, from the identification of the target to the aiming of the mortar. It reduces the time it takes to engage adversaries and greatly increases the precision of mortar fire. TASCS has similar application across many other firing platforms beyond just the 81mm mortar, with a world market estimated by the Company at several hundred million dollars.

The Company added that its ability to use its TASCS system as a toolset to integrate tactical applications into ATAK has attracted attention from other military customers and OEMs. “We’re discovering that many potential customers require ATAK integration help,” added Jeff MacLeod. “We have already begun assisting some, and we are currently processing about a dozen other inbound enquiries for assistance, both domestic and international. It appears that this has the potential to become a separate business line unto itself, with recurring revenue.”

Read More: https://agoracom.com/ir/Kwesst/forums/discussion/topics/757412-kwesst-completes-successful-integration-of-tascs-ifm-for-81mm-mortar-into-atak-for-key-u-s-military-customer/messages/2308347#message