KWESST Micro Systems Inc. Announces CAD $3.5 Million Private Placement

Core Points - KWESST Micro Systems Inc. has entered into definitive securities purchase agreements for a private placement, aiming to raise approximately CAD$3.5 million (around US$2.5 million) [1] - The offering includes the issuance of 3,787,879 common shares and/or pre-funded warrants at a price of CAD$0.928 (approximately US$0.66) per share or warrant [2] - The net proceeds from the offering will be used for general working capital purposes [3] Financial Details - The common shares or pre-funded warrants will be bundled with common share purchase warrants, each exercisable at CAD$1.16 (approximately US$0.817) for a period of 60 months [2] - ThinkEquity is acting as the sole placement agent, receiving a cash fee of 7.5% of the gross proceeds and warrants equal to 5.0% of the pre-funded warrants sold [4] Regulatory Information - The offering is subject to approval from the TSX Venture Exchange [5] - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an exemption [6] Company Overview - KWESST develops next-generation tactical systems for military and security forces, including digitization of tactical forces and countermeasures against various threats [8]