Business
KWESST Responds to OTC Markets Request on Recent Promotional Activity
Ottawa, Ontario--(Newsfile Corp. - April 7, 2021) -  KWESST Micro Systems Inc. (TSXV: KWE...
About this update from Defsec Technologies Inc.
[{"type":"text","content":"KWESST Responds to OTC Markets Request on Recent Promotional ActivityOttawa, Ontario--(Newsfile Corp. - April 7, 2021) -  KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (\"KWESST\" or \"the Company\") has been requested by OTC Markets Group Inc. to issue this statement about promotional activity concerning its common stock.On April 6, 2021, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, including the distribution of two promotional newsletter e-mails published by Epic Stocks Picks discussing the Company, its products and the global size of the defence and security business sector. The publications also contained a summary of recent news release issued by KWESST. OTC Markets provided examples of the promotional material for reference. The Company was aware of the articles before receiving them from OTC Markets.Epic Stock Picks is a third-party marketing and advertising firm retained by the Company's investor relations' firm Emerging Markets LLC (\"EMC\") to provide content distribution and advertising services. Each of the newsletters presented factual statements regarding the Company, its business and industry. The Company provided EMC publicly available source information for the newsletters and did have editorial control over the materials, including reviewing the materials for factual accuracy prior to their dissemination. The Company does not believe the statements in the newsletters were false or misleading. The appointment of EMC, the nature of the relationship between KWESST and EMC as well as the compensation to be paid to EMC was publicly disclosed on March 3rd, 2021 and the news release announcing the appointment can be found on SEDAR and on the Company's website at https://kwesst.com/news/kwesst-enters-into-investor-relations-agreement/ . Neither EMC nor any of its principals currently own any securities, directly or indirectly, of the Company or have any intention to acquire any securities of the Company.Further, the Company understands this promotional activity may have coincided with increased trading activity in the Company's common shares beginning on April 6th, 2021. The Company does not believe the promotional activities were a factor in the recent increase in trading volume in the Co...