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KWESST Micro Systems Announces Results of 2021 Annual General and Special Meeting of Shareholders
Provides business update Ottawa, Ontario--(Newsfile Corp. - April 1, 2021) - KWESST Micro Sys...
About this update from Defsec Technologies Inc.
[{"type":"text","content":"KWESST Micro Systems Announces Results of 2021 Annual General and Special Meeting of ShareholdersProvides business updateOttawa, Ontario--(Newsfile Corp. - April 1, 2021) - KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (\"KWESST\" or \"the Company\") announces the results of its 2021 Annual and Special Meeting of shareholders held on Wednesday, March 31, 2021 in virtual format.Shareholders approved all the resolutions detailed in the management information circular of the Company dated February 11, 2021, namely:Electing all the nominees to the Board of Directors of the Company;Appointing KPMG LLP as auditor of the Company for the ensuing year and authorizing the directors to determine the auditor's compensation; and,Approving the Company's long term incentive plan.The Company also provided the following general business update to investors.Current contract with U.S. military for TASCS IFM productThe Company reported that it is progressing on schedule and to budget in the delivery of its $1.1M contract for TASCS (Tactical Awareness Situational Control System) IFM (Integrated Fires Module) systems for the 81mm mortar to a key U.S. military customer.In March 2021, KWESST announced the successful integration of TASCS IFM into the Android Tactical Assault Kit (ATAK), the pre-eminent battlefield management system used by more than a dozen U.S. government agencies and many NATO allies and partner nations. This integration opens the door to further deployment of the Company's systems to military customers. The Company will now proceed to the next phase of the contract, involving live-fire trials at various U.S. military bases with full delivery of the contract expected in the current fiscal year.Progress on other product introduction to the marketplaceGreyGhostTMGreyGhostTM is a drone whose principal function and operation is acting as a projectile to intercept aerial threats using kinetic (i.e. motion-related) force. GreyGhostTM addresses a concern for deployed military and many security agencies arising from the proliferation of small drones and the potential hazards they pose to troops, sensitive infrastructure and the public at large. Current methods to tackle this concern include electronic counter-measures which attempt to disrupt communication protocols. Other systems, such as net capture, have a short range and can only d...