Security Stock News: KWESST (TSXV: KWE) Announces $400,000 in Police Orders for ARWEN Productse
Ottawa, Ontario - January 10, 2022 (Newsfile Corp.) (Investorideas.com Newswire, Homelanddefensestocks.com) KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) ("KWESST" or the "Company") is pleased to announce that it has received orders from three law enforcement agencies for approximately $400,000 in ARWEN products (all values in CAD). One order from an overseas national police agency is for approximately $250,000 to be shipped next month. The other two orders are from Canadian law enforcement agencies, with one order shipped in late December 2021 and the other scheduled to ship this month.
"It is gratifying to see this early acceleration in the pace of orders from our recent acquisition of ARWEN," said Jeff MacLeod, Founder, President and CEO of KWESST. "This reinforces our conviction that there is strong growth potential for ARWEN products around the world, particularly in an environment of heightened civil unrest and anxiety about rising crime."
In conjunction with its acquisition of the ARWEN business in December 2021, KWESST noted that ARWEN is a highly respected brand in the industry, with under-exploited potential. Its reach into the law enforcement community could accelerate KWESST's introduction of its non-lethal Low Energy Cartridge ("LEC") system to police agencies. The first LEC products are to be showcased at the 2022 SHOT Show in Las Vegas, January 18-21.
ARWEN is an acronym for "Anti Riot Weapon ENfield" and was originally developed by Royal Ordnance in the U.K. ARWEN products are used by law enforcement across North America and internationally. ARWEN is a 37mm less lethal system which is based off two firing platforms, a multi-shot launcher and a single shot launcher. ARWEN's full line of munitions cover the range from impact to chemical rounds and has proven highly effective in any dynamic situation to bring a safe conclusion to a potentially violent incident.
To learn more about Arwen, please watch this short video: https://vimeo.com/537635456
KWESST develops and commercializes breakthrough next-generation tactical systems that meet the requirements of security forces and personal defense for overmatch capability against adversaries. The company's current portfolio of unique proprietary offerings include its unique non-lethal Low Energy Cartridge (LEC) system with application across all segments of the non-lethal market, including law enforcement and personal defence. KWESST is also involved in the digitization of tactical forces for shared situational awareness and targeting with its signature TASCSTM (Tactical Awareness and Situational Control System) for real-time awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons. Other KWESST products include counter-measures against threats such as drones, lasers and electronic detection. These include the autonomous GreyGhostTM soldier-portable micro drone missile system that defends against small hostile drones including swarms using high-speed kinetic impact; a Ground Laser Defence system to counter the emerging threat of weaponized lasers against personnel and the PhantomTM electronic battlefield decoy system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations to deceive and confuse adversaries. These systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems. The Company is headquartered in Ottawa, Canada, with representative offices in Washington, DC, London, UK and Abu Dhabi, UAE. KWESST trades on the TSX Venture Exchange under the symbol KWE and on the U.S. OTCQB under the symbol KWEMF.
Contact: Jason Frame, Investor Relations: firstname.lastname@example.org
For more information, please visit https://kwesst.com/
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation for the purpose of providing information about management's current expectations and plans relating to the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. KWESST disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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