KWESST Comments on Recent Market Activity

Rhea-AI Summary

KWESST Micro Systems (NASDAQ: KWE) has issued a statement in response to recent unusual market activity. The company, following a request from CIRO, confirmed that its management is unaware of any material change in operations that could explain the recent increase in market activity. The statement was released on December 17, 2024, addressing both NASDAQ and TSXV trading activity.

Ottawa, Ontario--(Newsfile Corp. - December 17, 2024) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) (TSXV: KWE.WT.U) ("KWESST" or the "Company") wishes to confirm at the request of CIRO that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

About KWESST

KWESST (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) 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 KWESST 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 non-lethal product line branded PARA OPS^TM with application across all segments of the non-lethal market, including law enforcement. The Company is headquartered in Ottawa, Canada with representative offices in London, UK and Abu Dhabi, UAE.

For more information, please visit https://kwesst.com/

Contact:
David Luxton, Executive Chairman: luxton@kwesst.com or
Sean Homuth, President and CEO: homuth@kwesst.com or
Kris Denis, Chief Financial Officer: denis@kwesst.com or
Jason Frame, Investor Relations: frame@kwesst.com or 587-225-2599

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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234155

FAQ

What caused KWESST (KWE) stock's recent market activity increase in December 2024?

According to KWESST's management statement on December 17, 2024, there are no known material changes in company operations that would explain the recent increase in market activity.

Did KWESST (KWE) report any material changes in its operations in December 2024?

No, KWESST's management explicitly stated they are unaware of any material changes in the company's operations that would account for the recent market activity.

Why did KWESST (KWE) issue a statement about its market activity on December 17, 2024?

KWESST issued the statement at the request of CIRO to address recent unusual market activity and confirm there were no material operational changes.

What exchanges does KWESST (KWE) trade on as of December 2024?

KWESST trades on both NASDAQ (under symbols KWE and KWESW) and TSXV (under symbols KWE and KWE.WT.U).