KWESST responds to demand from OTC markets on current promotional exercise
KWESST Micro Programs Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Firm”) has been invited by OTC Markets Group Inc. to problem this assertion on promotional exercise referring to its widespread inventory.
On April 6, 2021, OTC Markets knowledgeable the Firm that it turned conscious of sure promotional actions concerning the Firm and its widespread shares traded on the OTCQB market, together with the distribution of two promotional emails printed by Epic Shares Picks discussing of the Firm, its merchandise and the worldwide dimension of the protection and safety business. The posts additionally contained a abstract of the current press launch issued by KWESST. OTC Markets has supplied examples of promotional materials to your reference. The Firm was conscious of the articles previous to receiving them from OTC Markets.
Epic Inventory Picks is a third-party advertising and promoting firm retained by investor relations agency Rising Markets LLC (“EMC”) to offer content material distribution and promoting providers. Every of the bulletins offered factual statements concerning the firm, its enterprise and its business. The corporate supplied EMC with info on publicly out there sources for the newsletters and exercised editorial management over the supplies, together with reviewing the factual accuracy of the supplies previous to launch. The Firm doesn’t imagine that the statements within the newsletters had been false or deceptive. The appointment of EMC, the character of the connection between KWESST and EMC in addition to the remuneration to be paid to EMC had been made public on March 3.rd, 2021 and the press launch saying the appointment may be discovered on SEDAR and on the Firm’s web site at https://kwesst.com/information/kwesst-enters-into-investor-relations-agreement/. Neither EMC nor any of its principals at present owns any securities, instantly or not directly, of the Firm, nor does it intend to amass any securities of the Firm.
Additional, the Firm understands that this promotional exercise might have coincided with elevated buying and selling exercise within the Firm’s widespread shares as of April 6, 2021. The Firm doesn’t imagine that promotional actions had been an element within the improve. current buying and selling quantity of the corporate’s widespread inventory. . As an alternative, the corporate attributes the rise to a press launch issued by KWESST that day, which buyers can discover on SEDAR and on the corporate’s web site https://kwesst.com/information/kwesst -signs-exclusive-counter-drone-technology -license settlement /.
Over the previous twelve months, the corporate has labored with EMC, Fairness Guru, Maximus Strategic Consulting, Stockhouse.com, Investor Information Community, Proactiveinvestors.com, Digitonic Ltd., Agora Web Relations Corp. and Hybrid Monetary Ltd. to offer investor relations, public relations, advertising or different associated providers. The corporate additionally has Jason Body and Scott Younger who present investor relations to KWESST in a private capability.
After administration’s investigation, not one of the senior officers, administrators or, to the information of the Firm, controlling shareholders and third celebration service suppliers, besides as set forth herein, have bought or bought shares of the Firm. Firm within the final 90 days. . Over the previous 90 days, Jason Body has purchased and bought shares available in the market context and 2573685 Ontario Inc. – an organization managed by the President and CEO of KWESST – bought 184,956 widespread shares in reference to a personal transaction and has made all required securities deposits in reference to such a commerce.
OTC Markets has additional requested the Firm to point whether or not it has issued shares or convertible devices permitting conversion into fairness securities at costs constituting a reduction from the market price in impact on the time of problem. The Firm declares, as disclosed in its public paperwork on SEDAR, that since its itemizing on the TSX Enterprise Trade on September 22, 2020, it has not issued widespread shares at a reduction to the market value on the time of the itemizing. placement. April 6eIn 2021, KWESST issued a press launch saying its intention to finish a brokerage personal placement of as much as 2,000,000 models of the Firm at a value of C $ 1.25 per unit for gross proceeds. as much as CA $ 2,500,000. Buyers can discover the press launch on SEDAR and on the Firm’s web site at https://kwesst.com/information/kwesst-announces-c2-5-million-brokered-private-placement-financing/ .
For extra full and particular info concerning the Firm, its outlook and the dangers related to such prospects, readers are inspired to seek the advice of the Firm’s public paperwork on SEDAR, its web site and different dependable sources. The Firm encourages buyers to contact their funding advisers earlier than making any funding.
KWESST develops and markets high-value, ultra-miniaturized expertise functions that make a vital distinction to the protection and operational effectivity of personnel within the protection and safety industries. The corporate’s present portfolio of unique unique gives contains: its signature TASCSTM (Tactical Consciousness and State of affairs Management System) for real-time consciousness and focusing on info from any supply (together with drones) streamed on to customers’ sensible gadgets and weapons; the autonomous GreyGhostTM Moveable soldier drone micro-missile system that defends itself in opposition to hostile small drones, together with swarms, utilizing high-speed kinetic affect; a ground-based laser protection system to counter the rising risk of armed lasers in opposition to personnel; and, the ghostTMDigital decoy system for the battlefield to masks the electromagnetic signature of pleasant forces with decoy signatures in faux locations to deceive and confuse opponents. All methods can function stand-alone or combine seamlessly with OEM merchandise and battlefield administration methods together with Frontline, Edge, Killswitch, and ATAK (Android Tactical Assault Package). KWESST additionally has “sensible munitions” growth initiatives, together with its “Shot Counter” system, which information the quantity and sort of rounds fired, for optimized gun upkeep and efficiency. The corporate is headquartered in Ottawa, Canada, with consultant places of work in Washington, DC, London, United Kingdom and Abu Dhabi, United Arab Emirates. KWESST trades on the TSX Enterprise Trade underneath the image KWE and on the US Inventory Trade OTCQB underneath the image KWEMF.
Contact: Jason Body, Investor Relations: [email protected]
For extra info, please go to https://kwesst.com/
Warning Concerning Ahead-Wanting Statements
Sure statements contained on this press launch are forward-looking and contain various dangers and uncertainties. These forward-looking statements fall inside the which means of the expression “forward-looking info” of Nationwide Instrument 51-102 of the Canadian Securities Directors on Steady Disclosure Obligations. Ahead-looking statements usually are not made up of historic information. Ahead-looking statements embrace estimates and statements that describe the corporate’s future plans, aims or objectives, together with phrases indicating that the corporate or administration expects a situation or reported consequence to happen. Ahead-looking statements could also be recognized by phrases comparable to “believes”, “anticipates”, “expects”, “estimates”, “might”, “might”, “would”, “will” or “will”. As a result of forward-looking statements are primarily based on assumptions and cope with future occasions and situations, by their very nature they contain inherent dangers and uncertainties. Though these statements are primarily based on info at present out there to the corporate, the corporate supplies no assurance that precise outcomes will meet administration’s expectations. The dangers, uncertainties and different components concerned in forward-looking info might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking info. The forward-looking info contained on this press launch contains, however will not be restricted to, the anticipated dimension of the Supply, the worth of the Supply, the anticipated deadline and completion of the Supply, the meant use of the online proceeds of the Providing, receipt of all vital approvals and intentions of the corporate with respect to its aims, objectives or future plans and statements. Components that might trigger precise outcomes to vary materially from this forward-looking info embrace, however usually are not restricted to: the lack to finish the Supply on the phrases or on the schedule as introduced or in no way; and the dangers set out within the Firm’s public paperwork filed on SEDAR. Though the corporate believes that the assumptions and components used to organize the forward-looking info on this press launch are cheap, you shouldn’t place undue reliance on such info, which solely applies as of the date of this press launch. press, and no assurance may be heard that such occasions will happen inside the disclosed timeframe or in no way. The Firm disclaims any intention or obligation to replace or revise any forward-looking info, whether or not because of new info, future occasions or in any other case, besides as required by regulation. No inventory change, securities fee or different regulatory authority has accepted or disapproved of the data contained on this doc.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this press launch.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/79715