KWESST Responds to OTC Marketplaces Request on Recent Advertising Action

Lisa D. Small

Ottawa, Ontario–(Newsfile Corp. – April 7, 2021) – KWESST Micro Devices Inc. (TSXV: KWE) (OTCQB: KWEMF) (“KWESST” or “the Firm”) has been requested by OTC Marketplaces Group Inc. to issue this statement about marketing exercise about its common inventory.

On April 6, 2021, OTC Marketplaces educated the Company that it turned conscious of selected marketing actions relating to the Organization and its common inventory traded on the OTCQB Marketplace, like the distribution of two marketing e-newsletter e-mails published by Epic Stocks Picks discussing the Business, its products and solutions and the world wide sizing of the defence and safety small business sector. The publications also contained a summary of the latest information launch issued by KWESST. OTC Marketplaces provided examples of the marketing materials for reference. The Firm was conscious of the articles right before receiving them from OTC Markets.

Epic Stock Picks is a 3rd-get together marketing and advertising business retained by the Firm’s trader relations’ agency Emerging Markets LLC (“EMC”) to present material distribution and promotion companies. Each individual of the newsletters presented factual statements about the Corporation, its business and business. The Company provided EMC publicly offered source data for the newsletters and did have editorial manage more than the materials, like examining the products for factual precision prior to their dissemination. The Firm does not consider the statements in the newsletters ended up fake or misleading. The appointment of EMC, the mother nature of the connection among KWESST and EMC as effectively as the payment to be paid out to EMC was publicly disclosed on March 3rd, 2021 and the information release announcing the appointment can be found on SEDAR and on the Company’s internet site at https://kwesst.com/information/kwesst-enters-into-trader-relations-settlement/ . Neither EMC nor any of its principals at present very own any securities, specifically or indirectly, of the Corporation or have any intention to get any securities of the Business.

Even further, the Company understands this promotional exercise may well have coincided with enhanced investing exercise in the Company’s frequent shares starting on April 6th, 2021. The Corporation does not feel the marketing functions had been a variable in the modern boost in buying and selling quantity in the Firm’s prevalent shares. Rather, the Business characteristics the improve to a news launch issued by KWESST on that day, which buyers can discover on SEDAR and on the Company’s website https://kwesst.com/information/kwesst-signs-special-counter-drone-engineering-license-agreement/.

In the final twelve months, the Company has labored with EMC, Equity Guru, Maximus Strategic Consulting, Stockhouse.com, Investor Information Network, Proactiveinvestors.com, Digitonic Ltd., Agora World-wide-web Relations Corp. and Hybrid Monetary Ltd. to give trader relations, public relations services, advertising and marketing or other linked providers. The Corporation also has Jason Body and Scott Young delivering investor relations work to KWESST in their individual potential.

Immediately after an inquiry by management, none of the Company’s govt officers, directors or, to the knowledge of the Enterprise, any controlling shareholders and 3rd-occasion services suppliers, apart from as outlined herein, bought or obtained shares of the Corporation in just the earlier 90 times. Within just the past 90 days, Jason Body acquired and sold shares in the context of the market place and 2573685 Ontario Inc. – a business controlled by the President and CEO of KWESST – marketed 184,956 frequent shares in a private transaction and created all necessary securities filings in link with this kind of trade.

The OTC Markets has more asked for that the Organization state whether it has issued any shares or convertible instruments making it possible for conversion to equity securities at rates constituting a price reduction to the present marketplace charge at the time of the issuance. The Enterprise represents, as disclosed in its community filings on SEDAR that since listing on the TSX Enterprise Trade on September 22, 2020 it is has not issued common shares at a discounted to the market place value at the time of the supplying. On April 6th, 2021, KWESST issued a information release saying its intent to entire a best initiatives, brokered personal placement of up to 2,000,000 models of the Organization at a cost of C$1.25 for each device for gross proceeds of up to C$2,500,000. Investors can discover the information release on SEDAR and on the Company’s internet site at https://kwesst.com/information/kwesst-announces-c2-5-million-brokered-private-placement-financing/.

For more comprehensive and certain details pertaining to the Company, its potential customers and the threats linked with all those potential clients, viewers should seek the advice of the Firm’s community filings on SEDAR, its web site and other reputable resources. The Company encourages traders to make contact with their financial commitment advisers prior to generating any financial commitment.

About KWESST

KWESST develops and commercializes higher-price ultra-miniaturized know-how apps that make a important variance to the basic safety and operational performance of personnel in the defence and protection industries. The Firm’s current portfolio of special proprietary choices involve: its signature TASCSTM (Tactical Recognition and Situational Handle Method) for actual-time recognition and targeting details from any source (including drones) streamed directly to users’ good products and weapons the autonomous GreyGhostTM soldier-portable micro drone missile procedure that defends versus smaller hostile drones such as swarms employing large-velocity kinetic effect a Floor Laser Defence method to counter the emerging danger of weaponized lasers towards staff and, the PhantomTM digital battlefield decoy process to mask the electromagnetic signature of pleasant forces with decoy signatures at wrong destinations to deceive and confuse adversaries. All devices can work stand-by itself or combine seamlessly with OEM items and battlefield administration methods which includes Frontline, Edge, Killswitch and ATAK (Android Tactical Assault Package) amongst other individuals. KWESST also has developmental “sensible ordnance” projects including its “Shot Counter” program, which information the selection and type of rounds fired, for optimized firearms upkeep and efficiency. The Firm is headquartered in Ottawa, Canada, with representative workplaces in Washington, DC, London, Uk and Abu Dhabi, UAE. KWESST trades on the TSX Undertaking Exchange underneath the symbol KWE and on the U.S. OTCQB underneath the image KWEMF.

Contact: Jason Frame, Trader Relations: [email protected]

For a lot more facts, please go to https://kwesst.com/

Cautionary Take note Concerning Forward-Wanting Statements

Specified statements in this information release are ahead-looking and contain a variety of challenges and uncertainties. Such forward-wanting statements are within just the which means of the phrase ‘forward-on the lookout information’ in the Canadian Securities Administrators’ Nationwide Instrument 51-102 – Ongoing Disclosure Obligations. Ahead-on the lookout statements are not comprised of historical facts. Forward-on the lookout statements include estimates and statements that describe the Company’s foreseeable future ideas, goals or aims, like phrases to the result that the Business or management expects a said affliction or consequence to manifest. Forward-looking statements could be determined by these types of conditions as “thinks”, “anticipates”, “expects”, “estimates”, “might”, “could”, “would”, “will”, or “plan”. Since forward-seeking statements are centered on assumptions and deal with future events and disorders, by their incredibly mother nature they entail inherent challenges and uncertainties. While these statements are dependent on data at this time readily available to the Organization, the Firm offers no assurance that genuine effects will fulfill management’s expectations. Risks, uncertainties and other components concerned with ahead-on the lookout info could bring about real gatherings, outcomes, overall performance, potential customers and options to vary materially from individuals expressed or implied by this kind of forward-on the lookout info. Forward searching information in this information release involves, but is not restricted to, the predicted measurement of the Presenting, the Supplying price tag, the anticipated closing day and the completion of the Presenting, the anticipated use of the internet proceeds from the Offering, the receipt of all essential approvals, and the Firm’s intentions pertaining to its aims, ambitions or long run options and statements. Components that could cause genuine effects to vary materially from these types of forward-on the lookout information include, but are not confined to: an incapability to entire the Supplying on the conditions or on the timeline as introduced or at all and those people risks set out in the Company’s community documents filed on SEDAR. While the Corporation thinks that the assumptions and factors utilised in planning the forward-on the lookout facts in this news release are acceptable, undue reliance should not be put on such information, which only applies as of the date of this news launch, and no assurance can be offered that this sort of situations will occur in the disclosed time frames or at all. The Enterprise disclaims any intention or obligation to update or revise any ahead-wanting facts, no matter whether as a result of new details, long term gatherings or if not, other than as demanded by legislation. No inventory exchange, securities fee or other regulatory authority has authorized or disapproved the information and facts contained herein.

Neither TSX Enterprise Exchange nor its Regulation Companies Service provider (as that time period is described in the guidelines of the TSX Venture Exchange) accepts duty for the adequacy or precision of this information release.

To perspective the resource model of this push release, remember to check out https://www.newsfilecorp.com/release/79715

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