DEFSEC Technologies Inc. Announces AGM Results
Rhea-AI Summary
DEFSEC Technologies (TSXV: DFSC; NASDAQ: DFSC) reported results from its 2026 Annual and Special Meeting held February 19, 2026. Shareholders approved setting the Board at seven directors, elected all director nominees, appointed MNP LLP as auditor, and approved the Company's amended long term incentive plan.
Resolutions were adopted as detailed in the Company's amended and restated management information circular dated January 14, 2026. Contact information for CFO Jennifer Welsh, CEO Sean Homuth and Investor Relations Jason Frame was provided.
Positive
- None.
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Pre-news, DFSC was down 1.6% on light volume while peers were mixed: AIRI up 7.67%, MNTS up 1.03%, but KITT, GPUS, and PRZO down between roughly 1–7%. No peers appeared in the momentum scanner, supporting this as stock-specific rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Q1 2026 earnings | Positive | -5.8% | Strong revenue growth and improved profitability metrics versus prior year. |
| Feb 02 | Executive appointment | Positive | +0.5% | Appointment of Senior VP and Chief Legal Officer to support growth. |
| Jan 30 | Restated statements | Neutral | +0.5% | Lease-accounting restatement with no impact on loss or equity. |
| Jan 23 | Board expansion | Positive | +2.7% | New director added and board size increased from six to seven. |
| Dec 29 | FY2025 results | Positive | -3.9% | FY2025 revenue up sharply with improved operating loss and 2026 outlook. |
DFSC has twice sold off after strong fundamental updates, while governance and housekeeping items have tended to see modest positive or neutral reactions.
Over the past few months, DEFSEC reported strong FY2025 growth with revenue up 229% to $4.9M and highlighted FY2026 program billings expectations. Q1 FY2026 results on Feb 12 showed revenue up 47% and narrowing losses, yet the stock fell 5.76%. Governance changes included expanding the board to seven directors and appointing a new Chief Legal Officer. Today’s AGM outcome, confirming a seven‑member board and an amended long term incentive plan, extends this governance and oversight theme.
Regulatory & Risk Context
An effective Form F-3 dated Feb 2, 2026 registers the resale of up to 608,493 warrant shares. DEFSEC will not sell primary shares under this shelf but could receive up to CAD$2.61 million in cash if all registered warrants are exercised. The shelf is effective with 0 recorded usage and runs to 2029-02-02.
Market Pulse Summary
This announcement details routine AGM outcomes: shareholders confirmed a seven‑member board, elected directors, reappointed the auditor, and approved an amended long term incentive plan. Combined with recent filings and earnings updates, it underscores ongoing work on governance, capital access via an effective Form F-3, and incentive alignment. Investors may focus on how this governance structure supports execution of growth plans and management’s response to previously disclosed going‑concern risks.
Key Terms
long term incentive plan financial
AI-generated analysis. Not financial advice.
Ottawa, Ontario--(Newsfile Corp. - February 23, 2026) - DEFSEC Technologies Inc. (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCW) ("DEFSEC" or the "Company") today announced the results of its 2026 Annual and Special Meeting of shareholders held on Thursday, February 19, 2026.
Shareholders approved all the resolutions detailed in the amended and restated management information circular of the Company dated January 14, 2026, namely:
- To set the number of Directors at seven;
- Electing all the nominees to the Board of Directors of the Company;
- Appointing MNP 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 amended long term incentive plan.
For further information, please contact:
Jennifer Welsh, Chief Financial Officer and Chief Compliance Officer
welsh@defsectec.com
Sean Homuth, President and Chief Executive Officer
homuth@defsectec.com
Jason Frame, Investor Relations
+1 (587) 225-2599
frame@defsectec.com
About DEFSEC
DEFSEC (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCSW) (FSE: 62UA) develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company's current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons. Other DEFSEC products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary less-lethal product line branded PARA SHOTTM with applications across all segments of the non-lethal market, including law enforcement. The Company is headquartered in Ottawa, Canada.
For more information, please visit https://www.defsectec.com
Neither the TSX Venture Exchange nor its respective 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/285006
FAQ
What did DEFSEC (DFSC) shareholders approve at the February 19, 2026 AGM?
Who was appointed auditor for DEFSEC (DFSC) at the 2026 Annual Meeting?
What change to the board size did DEFSEC (DFSC) shareholders vote on in 2026?
Did DEFSEC (DFSC) approve changes to its long term incentive plan at the 2026 AGM?
How can investors contact DEFSEC (DFSC) for more information after the 2026 AGM?
