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Security Stocks in Play - KWESST (NASDAQ: KWE) (TSXV: KWE) Continues Rally

June 11, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for KWESST (NASDAQ: KWE) (TSXV: KWE), a company that develops and commercializes breakthrough next-generation tactical systems for military and security forces.

KWESST (Investorideas.com, a go-to platform for big investing ideas, reports on trading for KWESST (NASDAQ: KWE) (TSXV: KWE) had massive gains over 100% in yesterday's trading session following news of a major military contract.

The stock is continuing the rally today and is trading at $1.0050, up 0.1364, gaining 15.7925% for today's traders. The stock has traded over 20 Million shares as of this report.

The Company reported yesterday that it has been awarded a sub-contract by Thales Canada. Under the sub-contract, KWESST will deliver specialized software services for work under the Canadian Department of National Defence Land C4ISR series of contracts to modernize the Canadian Army's capabilities through advanced land command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems. The contract was signed at close of business on June 7, 2024.

"This award is further validation of our strategy to execute on programmatic digitization work that is foundational to the technology that underlies all of our products in both the Defence and Public Safety markets. This includes KWESST Lightning and our goal to bring these same situational awareness capabilities to law enforcement and first responders," said Sean Homuth, KWESST CEO. " We look forward to further strengthening our close working relationship with Thales Canada as we collaborate to deliver these critical capabilities to Canada's men and women in uniform."

"We are thrilled to collaborate with KWESST, their innovative and agile capabilities will enable the team to collectively deliver world class C4ISR solutions, supporting Canadian Army digitization," said Ian Krepps, VP Growth at Thales Canada.

The award is a task-based contract with a maximum workshare of approximately CAD $48 million over the initial six-year term. KWESST's expected revenue under this contract is largely driven by the timing and extent of task orders issued by the customer. As work tasks are authorized and communicated to the Company and work gets underway, Management will provide guidance on the impact of those activities to revenue.

Recent News:

https://ca.finance.yahoo.com/news/kwesst-secures-contract-valued-48m-125400077.html

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