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Tag: NASD:KWE

  • KWESST (KWE) Rebounds In Extended Session After Disclosing Rebranding Strategy

    KWESST (KWE) Rebounds In Extended Session After Disclosing Rebranding Strategy

    The stock price of KWESST Micro Systems Inc. (NASDAQ: KWE) saw a significant 24.59% increase during Wednesday’s after-market session, hitting $9.02. The normal session loss of 17.07%, which caused the stock to settle at $7.24, was successfully offset by this gain. The company’s announcement of an upcoming name change and the opening of a greatly enlarged facility preceded the late-session recovery.

    Strategic Market Positioning Is Reflected in Rebranding

    In order to better reflect its primary focus on military and public safety technology, KWESST announced its plan to rename as DEFSEC technology Inc. The corporation claims that the new name more accurately represents its position in the defense and public security industry.

    The TSX Venture Exchange must approve the proposed modification and ensure that all necessary regulatory procedures are finished. If authorized, the name change will go into effect on the Nasdaq Capital Market and the TSX Venture Exchange around June 30, 2025, with the new ticker symbol “DFSC.”

    Facility Opening Highlights Technology Leadership

    The rebranding was formally introduced at the launch of KWESST’s new facility located at 80 Hines Road, Kanata North, Ottawa, Ontario. The building will accommodate the company’s rapid expansion and is more than twice as large as its former location. The event, which included displays of KWE’s most recent military and security technology, was attended by more than 100 officials and invited visitors.

    Showcased innovations included the Battlefield Laser Detection System, which recently secured its first order from a North American armored vehicle program. Also presented was the ARWEN line of non-lethal threat neutralization tools, credited with saving hundreds of lives, and now expanded with new “Mini” and “Micro” models under customer review.

    Strategic Contracts and Public Safety Focus

    In addition, KWESST highlighted its role in delivering real-time situational awareness for the Canadian Forces via the “Team Awareness Kit” (TAK), a system already adopted by U.S. and NATO forces. This initiative is part of multi-year defense contracts with the Department of National Defence valued at up to $75 million through 2028, in partnership with Thales and Akkodis.

    KWESST’s “Lightning” variant of TAK targets the public safety market through a SaaS model, enabling rapid deployment on smart devices without the need for additional hardware or software purchases.

  • KWESST (KWE) Stock Rises After Completion Of Major Production Expansion

    KWESST (KWE) Stock Rises After Completion Of Major Production Expansion

    On Wednesday, shares of KWESST Micro Systems Inc. (NASDAQ: KWE) witnessed a remarkable increase, climbing 112.25% to close at $2.53. This notable upswing in stock value followed the company’s successful completion of a major production ramp-up, marking a pivotal moment in its operational strategy.

    Successful Production Expansion

    KWESST (KWE) has announced that it has finalized its plan to enhance the volume production of ARWEN cartridges, which now includes the newly developed 40mm baton round. This advancement came after successful characterization testing conducted by a recognized ballistics laboratory. The ARWEN system has long been established within law enforcement circles, designed specifically as a non-lethal alternative to maintain public order during instances of civil unrest and protests.

    Historically, KWESST has provided a 37mm cartridge compatible with its ARWEN launchers. However, to broaden the market appeal of its ARWEN-branded products, the company recently introduced a new 40mm baton cartridge at the annual SHOT Show in January 2024. Live-fire demonstrations during this event and subsequent showcases have highlighted the impressive performance capabilities of the new cartridge.

    Strategic Transition and Testing Initiatives

    Following these demonstrations, KWESST commenced formal characterization testing of the new 40mm cartridge and initiated field trials with select agencies. The company is currently distributing evaluation quantities to various agencies in the United States and Canada. KWE has taken a deliberate approach to ensure quality and is encouraged by the positive test results and initial customer feedback.

    To support the increased production demands, KWESST has transitioned the assembly of the 37mm baton cartridge to a Canadian ammunition manufacturer. This transition will soon extend to the new 40mm cartridge now that the characterization testing has been successfully completed by an independent ballistic testing laboratory.

    Financial Agreement and Future Prospects

    In addition to its production advancements, KWESST announced that its wholly-owned subsidiary, KWESST Inc., has secured a receivables facility agreement with a U.S.-based global financing company. This facility provides up to CAD 250,000, with favorable interest rates and terms that reflect KWE’s commitment to optimizing its financial resources for continued growth and innovation in the ammunition market.

  • How KWESST (KWE) Stock Surged After Hours?

    How KWESST (KWE) Stock Surged After Hours?

    The shares of KWESST Micro Systems Inc. (NASDAQ: KWE) displayed a robust upswing, ascending by a notable 19.75% to attain a closing price of $1.88 at the conclusion of Friday’s extended trading. In contrast, during the standard trading session, KWESST’s stock experienced a modest decline of 6.55%, ultimately settling at $1.57. As the KWESST stock rose in absence of current news, we can then point to recent developments to provide a more thorough understanding of KWE.

    Last week, KWESST had the privilege of presenting at Think Equity’s exclusive annual investor conference in the vibrant city of New York. During this event, KWE’s Executive Chairman, David Luxton, and Chief Financial Officer, Sean Homuth, elaborated on KWESST’s progress, as comprehensively detailed in an updated investor presentation accessible via the company’s website.

    Furthermore, KWESST made an important announcement last week regarding its development of a pioneering patent-pending Software as a Service (SaaS) product tailored for public safety agencies. This innovative SaaS solution is designed to facilitate rapid and real-time collaborative situational awareness among frontline responders in critical incidents.

    Leveraging the “TAK” (Team Awareness Kit) software from the U.S. government as its foundation, this solution effectively addresses scalability, interoperability, and the crucial aspect of time-to-engagement while offering a customizable user experience that aligns with the specific mission requirements encountered by responders.

    KWESST undertook this initiative in response to the mounting demand from numerous law enforcement agencies, inquiring whether the company could leverage its expertise in military digitization to deliver a similar TAK-based shared situational awareness solution on their smart devices during critical incidents.

    It’s noteworthy that KWESST had already entered into a contract with a national public safety agency to develop a Ground Search And Rescue (“GSAR”) application, intended for use by law enforcement and volunteer organizations involved in the search and rescue of numerous missing individuals annually.

    KWESST anticipates a demonstration of the KWESST Lightning product to potential customers in the upcoming month, with the first commercially available version for GSAR application slated for launch by mid-2024. Subsequently, KWESST will persist in the development of customized front-end applications, catering to various agency segments and their distinct mission requirements.

    In addition, KWESST has taken proactive steps to address the challenges related to the seamless onboarding of responders in a swift and secure manner. A provisional patent has been filed, highlighting the innovative solution’s role management, control, and interoperability aspects, all underpinned by the robust TAK platform.