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Valeo Pharma $VPH $VPHIF Completes Negotiations with Pan-Canadian Pharmaceutical Alliance for Redesca® and Redesca HP® $HLS.ca $MDP.ca $GUD.ca $RX.ca

Posted by AGORACOM-JC at 8:12 AM on Tuesday, April 6th, 2021
  • Completed its negotiations and entered into a letter of intent (“LOI”) with the pan-Canadian Pharmaceutical Alliance (pCPA) regarding Redesca® and Redesca HP®, its low molecular weight heparin (“LMWH”) biosimilar, for the prevention and treatment of thromboembolic disorders.

MONTREAL , April 6, 2021 – Valeo Pharma Inc . (CSE: VPH) (OTCQB: VPHIF) (FSE: VP2) (” Valeo ” or the ” Company “), a Canadian specialty pharmaceutical company, today announced that it has completed its negotiations and entered into a letter of intent (“LOI”) with the pan-Canadian Pharmaceutical Alliance (pCPA) regarding Redesca® and Redesca HP®, its low molecular weight heparin (“LMWH”) biosimilar, for the prevention and treatment of thromboembolic disorders.

“The successful conclusion of negotiations with pCPA is a significant milestone delivered for the Redesca® commercialization program. We can now exchange with the provincial, territories and federal instances to ensure coverage under publicly funded drug plans in Canada “, said Steve Saviuk , Valeo’s CEO.” While most prescriptions of LMWHs are initiated in the hospital, retail pharmacies play an important role in providing continued treatment to patients when they are discharged from hospital. Coverage by publicly funded drug plans are therefor a key component in making treatment available to Canadians”.

Commenting on the pCPA LOI, Frederic Fasano , Valeo’s President and Chief Operating Officer said; “We are particularly pleased to make Redesca ® available soon for Canadian patients and also for hospitals. The team at Valeo have worked tirelessly to ensure a robust supply of Redesca ® especially in the current pandemic conditions where patients suffering from SARS-CoV-2 are undergoing severe coagulopathy with various thromboembolic complications. LMWHs, like Redesca ® are key to prevent and treat those severe COVID-19 related thrombotic events.”

Established in August 2010 , the pan-Canadian Pharmaceutical Alliance (pCPA) conducts joint provincial/territorial/federal negotiations for brand name and generic drugs in Canada to achieve greater value for publicly funded drug programs and patients through the use of the combined negotiating power of participating jurisdictions.

About Redesca®, Redesca HP®

Redesca® is a low molecular weight heparin biosimilar. LMWHs are injectable anticoagulant drugs used primarily to treat and prevent deep vein thrombosis and pulmonary embolism. Redesca® has more than 8 years of proven in-market safety internationally and more than 150 million patient days treated in Europe alone.

About Valeo Pharma

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory Diseases, Neurodegenerative Diseases, Oncology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter .

Read More: https://agoracom.com/ir/ValeoPharma/forums/discussion/topics/758564-valeo-pharma-completes-negotiations-with-pan-canadian-pharmaceutical-alliance-for-redesca-and-redesca-hp/messages/2310948#message

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Posted in Valeo Pharma Inc | Comments Off on Valeo Pharma $VPH $VPHIF Completes Negotiations with Pan-Canadian Pharmaceutical Alliance for Redesca® and Redesca HP® $HLS.ca $MDP.ca $GUD.ca $RX.ca

VIDEO – PyroGenesis $PYR Reports Record 2020 Results + Significant Growth Expectations For 2021 $RTN $NOC $UTX $DDD.ca $HPQ.ca

Posted by AGORACOM-JC at 7:49 PM on Monday, April 5th, 2021

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Posted in AGORACOM Via Satellite, PyroGenesis Canada Inc. | Comments Off on VIDEO – PyroGenesis $PYR Reports Record 2020 Results + Significant Growth Expectations For 2021 $RTN $NOC $UTX $DDD.ca $HPQ.ca

$ZEU.ca Technologies – Mula DeFi Communication Platform Development Update & Balance Sheet Improvements

Posted by AGORACOM-JC at 2:07 PM on Monday, April 5th, 2021
  • Improved its balance sheet with 3 important transactions in the month of March.
  • ZeU is also pleased to update its shareholders and stakeholders on the development of the Mula platform.
  • Major encryption and security conceptual changes have been tested and coding of an alpha version of this element of Mula platform is completed
  • Management is evaluating the possibility to file additional patents regarding these important improvements.

Montréal – April 5, 2021 – ZeU Technologies Inc. (CSE:ZEU) (CNSX:ZEU.CN) (OTC:ZEUCF) is pleased to disclose that it improved its balance sheet with 3 important transactions in the month of March. ZeU is also pleased to update its shareholders and stakeholders on the development of the Mula platform.

Balance Sheet Improvements

The Company exercised its option to repay an equivalent of $500,000 of debentures and pay all outstanding interests representing $661,834.40, all for a total of $1,161,834.40 using 3,336,564 KAM token to complete the transaction. The Company also received payment of 250,000 Hodlc tokens related to the development in part of the Hodlc DEX DeFi platform. ZeU is not assigning a current value to the Hodlc tokens received while awaiting a review by its auditors to determine its proper accounting treatment.

Mula Developments Updates

Major encryption and security conceptual changes have been tested and coding of an alpha version of this element of Mula platform is completed. Management is evaluating the possibility to file additional patents regarding these important improvements.

The Company has embarked new developers and expects to accelerate the coding of all the email and live messaging functionality of the platform in parallel with the fiat gateway to the ZeUPay application and the smart contract builder for third party developers. Negotiations to integrate with applications specialised in food delivery and transactional web design are underway as well as with other third-party applications.  The platform is expected to embark gaming, lottery and P2P casino applications that will use the new encryption feature.  ZeU P2P Casino software is currently being integrated with license holders and the Company should update the public on the progress of this business segment later in the month of April.

Source: https://agoracom.com/ir/ZeUTechnologies/forums/discussion/topics/758531-mula-defi-communication-platform-development-update-balance-sheet-improvements/messages/2310892#message

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Posted in ZeU Crypto Networks Inc., ZeU Technologies Inc. | Comments Off on $ZEU.ca Technologies – Mula DeFi Communication Platform Development Update & Balance Sheet Improvements

PlantX $VEGA $PLTXF Announces Approval of Import License for Plant-Based Foods from the Canadian Food Inspection Agency $VERY.ca $MEAT.ca $EATS.ca $VEGN.ca

Posted by AGORACOM-JC at 8:38 AM on Monday, April 5th, 2021
  • Canadian Food Inspection Agency has granted PlantX with a license to import packaged plant-based products from the United States to Canada
  • The operational milestone champions PlantX as a principal one-stop-shop for everything plant based and advances the Company’s plant-based movement by distributing US-manufactured packaged plant-based products to the Canadian marketplace.

VANCOUVER, BC , April 5, 2021 – PlantX Life Inc. (CSE: VEGA ) (Frankfurt: WNT1) (OTCQB: PLTXF) (” PlantX ” or the ” Company “) is pleased to announce that the Canadian Food Inspection Agency (” CFIA “) has granted PlantX with a license to import packaged plant-based products from the United States to Canada (the ” Import License “). The operational milestone champions PlantX as a principal one-stop-shop for everything plant based and advances the Company’s plant-based movement by distributing US-manufactured packaged plant-based products to the Canadian marketplace.

The Import License complements PlantX’s success in creating a diverse infrastructure of partnerships with plant-based vendors across the United States . With the Import License, the Company seeks to make the most of its partnerships within the plant-based space to increase awareness of the plant-based lifestyle by providing access to a greater selection vegan and vegetarian food choices throughout Canada . PlantX’s new operational capabilities have potential for bridging gaps between the United States and Canadian plant-based marketplaces.

“We are extremely pleased to be at the forefront of bringing US-manufactured plant-based goods to Canada ,” said Julia Frank , PlantX CEO. “The new license marks a crucial step in our expansion as leaders in the plant-based space, by ensuring that we can be first to market in Canada with plant-based brands originating in the USA .”

To obtain the Import License, PlantX had to meet rigorous food safety standards and requirements that promote the health of Canadian consumers. The Import License allows PlantX to distribute vegan and vegetarian manufactured packaged products such as vegan dairy substitutes, snack foods, processed fruits and vegetables, infant foods, nuts, grains, spices, fats and oils. PlantX strives to go above and beyond to serve the needs and health of its plant-based community and this Import License will enable the Company to accelerate those efforts by making it easier for Canadian customers to purchase their favorite US-manufactured plant-based brands.

“As a Canadian company, we are very passionate about contributing to the health of the Canadian public” said PlantX Founder Sean Dollinger . “The new import license will open new doors to how we can promote the wellbeing of our customer in Canada by helping them access an ever-growing variety of plant-based products”.

Corporate Update

The Company announces that it has granted 3,851,000 stock options (” Options “) to purchase common shares of the Company (” Common Shares “) to certain directors, officers, employees and consultants of the Company pursuant to the terms and conditions of the Company’s incentive stock option plan. The Options are exercisable for a five (5) year period at a price of $0.80 per Common Share. One quarter (1/4) of the Options will vest every three (3) months from the date of grant.

The Company also announces that it has granted 2,687,000 restricted share units (” RSUs “) to certain directors, officers, employees and consultants of the Company pursuant to terms and conditions of the Company’s restricted share unit plan. The RSUs have a term of one (1) year of which one quarter (1/4) of the RSUs will vest every three (3) months from the date of grant.

An aggregate of 40,276 RSUs were granted to Northern Equities Inc. (” Northern Equities “), which provides investor relations services to the Company including services to raise awareness of the PlantX brand, deliver new communication channels to PlantX customers and retailers and increase stakeholder engagement. To the knowledge of the Company, Northern Equities and/or its principals do not own or control any securities of the company.

Source: https://agoracom.com/ir/PlantX/forums/discussion/topics/758509-plantx-announces-approval-of-import-license-for-plant-based-foods-from-the-canadian-food-inspection-agency/messages/2310845#message

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Posted in Plant-Based Food, PlantX Life Inc. | Comments Off on PlantX $VEGA $PLTXF Announces Approval of Import License for Plant-Based Foods from the Canadian Food Inspection Agency $VERY.ca $MEAT.ca $EATS.ca $VEGN.ca

Loop Insights $MTRX $RACMF Appointed Steward of Sovrin Foundation, Offering World’s First Blockchain-backed Digital Wallet Pass Identity Platform $QTRH.ca $SNSR $BSQR $PTS.ca

Posted by AGORACOM-JC at 8:16 AM on Monday, April 5th, 2021
https://miro.medium.com/max/3150/1*f9msDHyceA_TbRM30jQhsw.png
  • Announced the Company has joined the Sovrin Foundation, an open-source, open-standards technology platform for digital identity.
  • Built on a public blockchain, the Sovrin Ledger protects personal information while giving control of personal data back to the individuals.
  • Loop joins over 70 leading tech organizations around the world including Cisco, T-Mobile and NEC that have committed computing power and resources to strengthen the Sovrin Network.

VANCOUVER, British Columbia, April 05, 2021 — Loop Insights Inc. (MTRX:TSXV; RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights and enhanced customer engagement to the brick and mortar space, is pleased to announce the Company has joined the Sovrin Foundation, an open-source, open-standards technology platform for digital identity. Built on a public blockchain, the Sovrin Ledger protects personal information while giving control of personal data back to the individuals. Loop joins over 70 leading tech organizations around the world including Cisco, T-Mobile and NEC that have committed computing power and resources to strengthen the Sovrin Network.

INTEGRATION WITH SOVRIN FOUNDATION WILL ENHANCE LOOP’S WALLET PASS THROUGH IMPROVED SECURITY, PRIVACY, AND INTEROPERABILITY WITH MAJOR TECH LEADERS

Loop Insights currently issues credentials through the native mobile wallet that is embedded in Apple iOS and Google Android smartphones, which has been leveraged by Passcreator to offer a secure and easy-to-use platform. However, this data can be difficult for third parties to verify.

On January 12, 2021 Loop Insights finalized its acquisition of Passcreator to provide Loop with complete control over Passcreator and its wallet pass platform. By joining the Sovrin Foundation, the credentials that Loop Insights issues can be fully verified by any third party, allowing organizations to check them against Sovrin’s independent public blockchain. This integration is expected to greatly enhance the existing security and privacy of personal information that is encrypted and secured on Loop’s wallet pass platform, originally created by Passcreator.

By validating our issuance and data on the public Sovrin Ledger, Loop will greatly expand the interoperability of its mobile wallet passes, which can now be validated by any organization or individual. The security of the Sovrin Ledger will also enable users to share individual pieces of information with third parties without revealing their entire personal identity.

As Loop Insights is a data company that is fully committed to improving the security and integrity of personal information, it has become clear that public blockchain technologies will be critical to the security and privacy of personal information moving forward. Loop Insights is excited to be driving this shift together with Sovrin and the many organizations dedicated to enhancing the security, functionality, and customer experience of mobile wallet passes.

Loop Insights’ goal is to architect and launch a platform that provides seamless interoperable data connectivity for physical venue and retail operators. With the addition of supportive blockchain verification, the Company is now able to issue verified digital wallet credentials through the native wallet in each and every smartphone.

As countries look to reopen the economy and to provide transformative future-proofed solutions, Loop Insights is working to provide a seamless, secure, and simple user experience through its Wallet pass platform. The Company has recognized the overwhelming number of third-party applications on the market today and therefore anticipates the native wallets found on Apple and Google smartphones will become dominant platforms.

Chris Raczkowski, Chair of the Sovrin Foundation Board of Trustees stated:
“The Sovrin Foundation is very excited to welcome Loop Insights as the newest Steward of the Sovrin Ledger. The innovative Loop Insights team will strengthen the Sovrin network moving forward as we continue to offer secure and privacy-preserving digital identities for all.”

This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion

Read More: https://agoracom.com/ir/LoopInsights/forums/discussion/topics/758500-loop-insights-appointed-steward-of-sovrin-foundation-offering-world-s-first-blockchain-backed-digital-wallet-pass-identity-platform/messages/2310832#message

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Posted in Loop Insights Inc. | Comments Off on Loop Insights $MTRX $RACMF Appointed Steward of Sovrin Foundation, Offering World’s First Blockchain-backed Digital Wallet Pass Identity Platform $QTRH.ca $SNSR $BSQR $PTS.ca

Victory Square Technologies $VST.ca $VSQTF Portfolio Company Immersive Announces Upsizing of Its Previously Announced Private Placement Due to Strong Investor Demand $YDX.ca $NTAR.ca $SEV.ca $DBO.ca

Posted by AGORACOM-JC at 5:20 PM on Thursday, April 1st, 2021
Victory Square Technologies VST

  • Announced that further to its news release dated March 29, 2021, its portfolio company Fantasy 360 Technologies Inc. d/b/a Immersive Tech proposes to increase the size of its previously announced non-brokered private placement of subscription receipts of Immersive from $1.5 million due to strong investor demand.
  • Each Subscription Receipt will be sold at a price of $0.35 and be governed by a subscription receipt agreement to be entered between Immersive and an escrow agent to be appointed by Immersive on or prior to the closing date of the SR Offering

VANCOUVER, British Columbia, April 01, 2021 — Victory Square Technologies Inc. (“ Victory Square ”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to announce that further to its news release dated March 29, 2021, its portfolio company Fantasy 360 Technologies Inc. d/b/a Immersive Tech (“ Immersive ”) proposes to increase the size of its previously announced non-brokered private placement (the “ SR Offering ”) of subscription receipts of Immersive (“ Subscription Receipts ”) from $1.5 million due to strong investor demand. Each Subscription Receipt will be sold at a price of $0.35 and be governed by a subscription receipt agreement to be entered between Immersive and an escrow agent to be appointed by Immersive on or prior to the closing date of the SR Offering (the “ SR Agreement ”).

In accordance with the SR Agreement, each Subscription Receipt shall be automatically converted without any further action on the part of the holder thereof into one unit of Immersive (each, a “ SR Unit ”) upon the satisfaction of certain escrow release conditions (the “ Escrow Release Conditions ”) including the receipt of conditional approval by Immersive with respect to the listing of the common shares of Immersive (“ Immersive Shares ”) on the Canadian Securities Exchange (the “ CSE ”) and the receipt of a final prospectus of Immersive in the Province of British Columbia. If the Escrow Release Conditions are not satisfied by August 31, 2021, the proceeds of the SR Offering will be returned to the subscribers.

Each SR Unit will consist of one Immersive Share and one-half of one Immersive Share purchase warrant (each whole warrant, an “ SR Warrant ”). Each SR Warrant will entitle the holder thereof to purchase one additional Immersive Share at a price of CAD$0.52 for a period of 24 months following the completion of a going-public transaction by Immersive. Immersive may accelerate the expiry date of the SR Warrants to 30 days following Immersive issuing a news release accelerating the expiry date of the SR Warrants in the event the closing price of the Immersive Shares on the CSE or any equivalent exchange upon which the Immersive Shares trade is equal to or greater than $0.78 per Immersive Share for a period of ten (10) consecutive trading days.

Immersive intends to use the net proceeds from the SR Offering to finance acquisitions, organic growth investments and for general working capital purposes. Finder’s fees may be paid to eligible finders in accordance with the policies of the CSE consisting of a cash commission of up to 6% of the gross proceeds raised under the SR Offering and finder warrants (“ Finder Warrants ”) in an amount up to 6% of the number of Subscription Receipts sold pursuant to the SR Offering. Each Finder Warrant will have the same terms as the SR Warrants.

Closing of the SR Offering is subject to customary closing conditions including, but not limited to, receipt of any required regulatory approvals. The securities being offered under the private placement will be issued pursuant to available exemptions from the prospectus requirements under applicable securities laws and will be subject to a hold period that will expire four months and one day from the later of: (i) the date of issue, and (ii) the date on which Immersive becomes a reporting issuer in any jurisdiction in Canada. The Immersive Shares comprising the SR Units and underlying the SR Warrants will be subject to a contractual lock-up with 25% released from contractual lock-up on the date of conversion of the Subscription Receipts and 75% released 4 months thereafter.

Source: https://agoracom.com/ir/VictorySquareTechnologies/forums/discussion/topics/758410-victory-square-technologies-inc-portfolio-company-immersive-announces-upsizing-of-its-previously-announced-private-placement-due-to-strong-investor/messages/2310649#message

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Posted in Victory Square Technologies Inc. | Comments Off on Victory Square Technologies $VST.ca $VSQTF Portfolio Company Immersive Announces Upsizing of Its Previously Announced Private Placement Due to Strong Investor Demand $YDX.ca $NTAR.ca $SEV.ca $DBO.ca

AGORACOM Small Cap 60: Wildly Successful Partnership With First Tube Media Puts ImagineAR On The Map $DBO.ca $YDX.ca $SEV.ca $NTAR.ca

Posted by AGORACOM-JC at 1:01 PM on Thursday, April 1st, 2021
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Posted in All Recent Posts, Imagine AR | Comments Off on AGORACOM Small Cap 60: Wildly Successful Partnership With First Tube Media Puts ImagineAR On The Map $DBO.ca $YDX.ca $SEV.ca $NTAR.ca

AGORACOM Small Cap 60: What Gives Valeo Pharma A Competitive Advantage In The $700M CAD / Year Asthma Market? $HLS.ca $MDP.ca $GUD.ca $RX.ca

Posted by AGORACOM-JC at 12:02 PM on Thursday, April 1st, 2021

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Posted in All Recent Posts, Valeo Pharma Inc | Comments Off on AGORACOM Small Cap 60: What Gives Valeo Pharma A Competitive Advantage In The $700M CAD / Year Asthma Market? $HLS.ca $MDP.ca $GUD.ca $RX.ca

VIDEO – AI/ML Innovations $AIML.ca $FIRZF Pens Partnerships for Health Gauge, Eyeing FDA Approval for Stateside Launch $PFM.ca $DM.ca $ADK.ca

Posted by AGORACOM-JC at 8:57 AM on Thursday, April 1st, 2021
AI/ML Innovations Inc.

AI/ML Innovations is capitalizing on the burgeoning areas of artificial intelligence (AI) and machine learning (ML), with an initial focus on emerging companies in the digital healthcare space.

Its key subsidiary, Health Gauge, is a leading digital health solutions provider that’s poised to disrupt the traditional healthcare industry by providing AI innovations and services that improve health outcomes, while at the same time reducing costs and stresses on the overburdened healthcare infrastructure.

Its patent-pending solution is a bespoke personal health monitoring & management system, combining the latest wearable health monitors with sophisticated software tools.

Health Gauge has now secured three key strategic partnerships to assist it in addressing FDA requirements for entry into the U.S. marketplace: Zi Medical, MedStack & Privacy Horizon

With their support, Health Gauge can penetrate the $245bn global digital health monitoring market, continuing its strategy of partnering with leading channel partners, health benefits providers and end-users, via its proprietary combination of:
 

  • digital health monitoring devices,
  • AI-based software, and
  • cloud computing platform.

The company also completed over-subscribed strategic financing for total gross proceeds of $3m. So it is firing on all cylinders!

Make time to watch this one over the long weekend. Tim Daniels, AI/ML Innovations’ Executive Chairman, breaks it all down:

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Posted in AGORACOM Via Satellite, AI/ML Innovations Inc. | Comments Off on VIDEO – AI/ML Innovations $AIML.ca $FIRZF Pens Partnerships for Health Gauge, Eyeing FDA Approval for Stateside Launch $PFM.ca $DM.ca $ADK.ca

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

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