KWESST Micro Systems Inc. Announces CAD $3.5 Million Private Placement
Summary
Ottawa, Ontario--(Newsfile Corp. - February 19, 2025) - KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) (TSXV: KWE) ("KWESST" or the "Company"), today announced that it has entered into definitive securities purchase agreements dated February 19, 2025 with accredited and institutional investors for the issuance and sale of the Companys securities, on a brokered private placement basis, for aggregate gross proceeds of approximately CAD$3.5 million (approximately US$2.5 million) (the "Offering").As a part of the Offering, the Company plans to issue 3,787,879 common shares, no par value per share (each a "Common Share"), and/or pre-funded warrants to acquire one Common Share of the Company (each a "Pre-funded Warrant") in lieu thereof, at a price of CAD$0.928 (approximately US$0.66) per Common Share and/or Pre-Funded Warrant, inclusive of the exercise price of CAD$0.001 per Common Share. 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, Chairman: luxton@kwesst.com orSean Homuth, President and CEO: homuth@kwesst.com orJennifer Welsh, Chief Financial Officer: welsh@kwesst.com orJason Frame, Investor Relations: frame@kwesst.com or 587-225-2599 This press release contains "forward-looking statements" and "forward-looking information" within the meaning of Canadian and United States securities laws (collectively, "forward-looking statements"), which may be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. The forward-looking events and circumstances discussed in this press release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting KWESST, including general economic and stock market conditions; loss of markets; and many other factors beyond the control of KWESST. Although KWESST has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.