Strong interest in PARA OPS from U.S. distributors, international representatives, Homeland Security and law enforcement agencies
KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) ("KWESST" or the "Company") is pleased to report on the results of the 2022 SHOT Show, held January 18-21 in Las Vegas, at which KWESST displayed and demonstrated its single-shot and multiple-shot PARA OPS non-lethal products for personal defense. Also on display were samples of the ARWEN product line, recently acquired by KWESST.
"As expected, the SHOT Show confirmed strong interest in our non-lethal PARA OPS technology and products," said Jeff MacLeod, Founder, President, and CEO of KWESST.
This year's SHOT Show was held as recent reports have indicated that the violent crime rate rose significantly across the United States in 2021, including increases in incidents of property crime, violent assaults and even homicides. As crime rates have ticked up in numerous communities over the past year, there remains a distinct need for an effective, non-lethal system to better help law enforcement officers perform their everyday duties. The Company anticipates the new PARA OPS system will transform both the non-lethal personal defense category and the broader law enforcement industry.
"Distributors from across the U.S., as well as overseas, expressed strong interest in carrying PARA OPS products and are anxiously awaiting classification from Bureau of Alcohol, Tobacco, Firearms and Explosives, commonly known as the ATF," said MacLeod. "ATF classification remains pending but is expected in the coming weeks. Orders for product may only be solicited and accepted once ATF classification is received."
Interest in the Company's presence at the SHOT Show was heightened by the inclusion of PARA OPS products in the New Product Showcase and by the previously announced appearance of Brandon Tatum, famous for his popular Officer Tatum show, who drew attention from his following in the law enforcement community with signings of his new book, Beaten Black and Blue, at the Company's booth.
Invited guests, including Tatum, also attended an invitation-only firing demonstration of the PARA OPS products, which highlighted the system's deterrent capability utilizing inert powder rounds. As one guest remarked on the accuracy: "the round certainly goes where the laser points."
There was also pronounced interest at the show from the law enforcement community, with many commenting on the advantages of the PARA OPS low energy cartridge approach when compared with current alternatives. Interested agencies included some of the largest metro police agencies in the U.S., Homeland Security agencies and a key military agency with responsibility for less-lethal systems.
Commercial representatives from Europe, the Middle East, Latin America, and Asia, with an established base of foreign customers, also expressed interest in the Company's unique PARA OPS solutions.
"We have a great deal of follow-up in front of us now from the extensive interest at the show," added MacLeod, "including from agencies that have requested further information and product trials."
The SHOT Show was also an opportunity to meet with strategic suppliers and partners in the industry as part of the Company's finalizing of plans for outsourced full production in the U.S. as order quantities eventually build. Prospective pricing is US $99 for the single shot unit and US $325 for the five-shot flashlight model.
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In conjunction with the SHOT Show, the Company also released its web site for PARA OPS at www.para-ops.com.
The Company also reported that in accordance with its Long-Term Incentive Plan, on January 4, 2022, KWESST granted 72,580 Restricted Stock Units ("RSUs") to an officer, vesting 25% each quarter from the grant date.
About PARA OPS
The patent-pending PARA OPS technology is a breakthrough in non-lethal systems. It combines the reliability of a cartridge with a polymer projectile in a low-energy self-stabilizing configuration for accuracy. There is no gunpowder, compressed air or CO2. Projectiles come in a choice of payloads appropriate to the mission, whether personal defense, public order or realistic tactical simulation. Cartridges fire from a low-cost dedicated launcher that can look like a firearm, a TV remote control, a flashlight, or any hybrid or custom design. Launchers fire only PARA OPS cartridges and will not accept live ammunition. Projectile payloads include incapacitating pepper powder, inert colored powder for training, and solid slugs for practice or pain compliance.
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 engaged 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 operations in Stafford, VA and representative offices in 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: email@example.com
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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