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New Listing: KWESST Micro Systems (TSXV:KWE)

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Ottawa-based KWESST develops and commercializes high-value ultra-miniaturized technology for applications in the military and homeland security market.

Additional Information:

Company: KWESST Micro Systems
Website: http://www.kwesst.com
Stock Symbol: TSXV:KWE
Date Published: Sep 23, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

KWESST Micro Systems is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “KWE”, following its qualifying transaction with Capital Pool Company Foremost Ventures.

Ottawa-based KWESST develops and commercializes high-value ultra-miniaturized technology for applications in the military and homeland security market.

The company targets the Global Soldier Systems market which is forecast to reach $14.4 billion by 2023.

Its core technology has multiple applications based on MISST, or "Micro Integrated Systems and Software Technology", a proprietary integration of miniaturized sensors, optics, ballistics and software that provides an advancement in affordable smart systems and mission capability.

The company announced the completion of the first phase of three deliverables under a contract to support a U.S. military customer, featuring the company’s signature TASCS or Tactical Awareness and Situational Control System.

TASCS is 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.

This first deliverable under a $500,000 contract demonstrated the TASCS Integrated Fires Module on mortars and the augmented weapon sight, a system developed by AeroVironment Inc. and KWESST to provide real-time situational awareness and targeting information.

The augmented weapon sight streams full-motion video from an overhead unmanned aerial vehicle manufactured by AeroVironment into the TASCS architecture for the purposes of target identification, accurate first-shot hits and real-time battle damage assessment.

Jeff MacLeod, President and CEO, stated: “These important military exercises demonstrate the maturity of the TASCS system. We are very pleased at the performance of the system and the valuable user feedback. We expect the next two contracted demonstration exercises later this year to attract added customer attention and the development of operating procedures that will be employed in more extensive exercises expected in early 2021.”

David Luxton, Executive Chairman, added: “Demonstration exercises like this with military customers are an important phase in the process towards potential introduction into service. It is very encouraging that this key U.S. military customer is scheduling additional exercises and that at least two other NATO military customers have similar capability demonstration contracts under consideration.”

Other products include the autonomous Grey Ghost™ kinetic impact missile system that defends against small hostile drones including swarms; a Ground Laser Defence system to counter the emerging threat of weaponized lasers against personnel; and, the Phantom™ Tactical Electronic Decoy to mask the electromagnetic signature of friendly forces with decoy “phantom” 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 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 shares are trading at $0.80.

For more information, please visit the company’s website www.kwesst.com, contact Jason Frame, Investor Relations at 587-225-2599 or by email at frame@kwesst.com.

I’m Cassandra Bolinski for Investmentpitch Media