KWESST Announces U.S. Patent Award for Phantom, Qualifies for Government Programs

Electronic decoy product advances to sponsorship and evaluation with U.S. military and another NATO nation

KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) ("KWESST" or "the Company") today announced the award of U.S. patent 10,969,467 B1 for Programmable Multi-Waveform RF Generator for Use as Battlefield Decoy. This patent is one of the core technologies of the Company's PhantomTM electronic decoy, as described in the press releases of October 5th and December 30th, 2020.

In conjunction with the patent award, the Company confirmed that the Phantom^TM system has just been selected in defence and innovation programs for evaluation, including a U.S. Special Operations Command program, and has been prequalified for government funding with an estimated initial value of approximately $1 million once approved.

"Apart from the potential near-term dollars involved, this qualification and invitation to participate in trials with key agencies in the U.S. and another NATO country signals serious interest in the Phantom^TM system," said Jeff MacLeod, KWESST Founder, President and CEO. He adds that, "These concurrent developments also appear likely to accelerate the pace of market uptake. Accordingly, with the upcoming close of our $4 million financing announced April 9, 2021 we will be prioritizing the productization of Phantom^T^M to be in the market sooner than originally planned."

The Company stated that there is growing interest among NATO and partner countries for a tactical electronic decoy to prevent adversaries from locating and targeting friendly forces. This growing interest stems from incidents like one publicly reported in the 2016 where two full Ukrainian mechanized battalions were annihilated by Russian adversaries in three minutes with precision mass fire after locating them based on their electronic signal emissions.

About the Phantom^TM electronic decoy
Phantom^TM is a compact, lightweight electromagnetic transmitter capable of mimicking the electromagnetic signature of a tactical military unit, fooling adversaries as to the location of NATO and partner nation forces. Recent interest from NATO agencies and defence contractors for this product has resulted in KWESST moving up the scheduled production of demonstration samples of Phantom^TM in the Company's priorities. An earlier prototype version of Phantom^TM was procured and successfully trialed in military exercises. The latest version is more compact, with greater capability, and is soldier-portable or can be deployed by Unmanned Aerial Systems ("UAVs" or "drones"). Based on internal research the Company estimates the market for a system like Phantom^TM to be worth several hundred million dollars in the U.S. alone.

About KWESST
KWESST develops and commercializes high-value ultra-miniaturized technology applications that make a critical difference to the safety and operational effectiveness of personnel in the defence and security industries. The company's current portfolio of unique proprietary offerings include: its signature TASCS^TM (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; the autonomous GreyGhost^TM 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 Phantom^TMelectronic battlefield decoy system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations to deceive and confuse adversaries. All systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems including Frontline, Edge, Killswitch and ATAK (Android Tactical Assault Kit) among others. KWESST also has developmental "smart ordnance" projects including its "Shot Counter" system, which records the number and type of rounds fired, for optimized firearms maintenance and performance. 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: frame@kwesst.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. Forward-looking statements include, but are not limited to, statements with respect to the timing for the commencement of trading and the plans and operations of KWESST after giving effect to the Qualifying Transaction. 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.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81065

News Provided by Newsfile via QuoteMedia

KWESST Emerging Tech Investing

Nanalysis Scientific Corp. Announces Director Resignation

Nanalysis Scientific Corp. (" Nanalysis " or the " Company ", (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1) announces that Kham Lin has resigned as a director of the Company effective April 9, 2024 and the Board of Directors has accepted his resignation. The Company would like to thank Mr. Lin for his contributions throughout his tenure as director of the Company.

About Nanalysis Scientific Corp. (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1)

Nanalysis Scientific Corp. operates two primary businesses: Scientific Equipment and Security Services. Within its Scientific Equipment business is what the Company terms "MRI and NMR for industry". The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The Company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. In 2020, the Company announced the launch of its 100MHz device, the most powerful and most advanced compact NMR device ever brought to market.

The Company's devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners. With its partners, the Company provides scientific equipment sales and maintenance services globally.

In 2022, through its subsidiary KPrime, the Company was awarded a five-year, $160 million contract with the Government of Canada to provide maintenance services for passenger screening equipment in Canadian airports. This has resulted in the expansion of the Company's Security Services business. The Company is providing airport security equipment maintenance services for the Government of Canada in each province and territory of Canada . In addition, the Company provides commercial security equipment installation and maintenance services to a variety of customers in North America.

Notice regarding Forward Looking Statements and Legal Disclaimer

All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly 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 expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia: https://www.prnewswire.com/news-releases/nanalysis-scientific-corp-announces-director-resignation-302113222.html

SOURCE Nanalysis Scientific Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/10/c1267.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Sona Nanotech Secures Grant Funding to Support Intellectual Property Strategy and Development

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") announces that it has been approved for funding totaling approximately $40,000 to support the development of its intellectual property portfolio.

The Company is receiving advisory services and up to $24,894 in funding from the National Research Council of Canada Industrial Research Assistance Program ("NRC IRAP") IP Assist program to support the development of an intellectual property strategy for Sona's proprietary gold nanorods for novel targeted drug delivery concepts with a view to securing new patents.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Nanalysis Corp. Receives Funding Supporting AI Software Development for Detection of Illicit Substances

Nanalysis Scientific Corp. ("the Company" or "Nanalysis", TSXV: NSCI OTCQX: NSCIF FRA: 1N1 ), a leader in portable NMR machines, MRI technology for industrial and research applications, and detection equipment services, announces that its subsidiary Nanalysis Corp. is receiving advisory services and up to $1.45 million in non-repayable, non-dilutive funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), to develop Artificial Intelligence based software tools to detect illicit substances on top of the Company's portable Nuclear Magnetic Resonance (NMR) spectrometers.

In the global fight against substance abuse, federal, state, provincial, county and municipal governments around the world are tasked with characterizing increasing volumes of seized contraband. This characterization requires an array of different analytical techniques and is carried out by skilled forensic scientists in thousands of laboratories worldwide. In many cases these laboratories face significant sample backlog due to volume and may have difficulties in identifying new designer drugs.

This project, scheduled for three years, will focus on using quantum mechanical modelling and AI tools to perform analysis of magnetic resonance results generated by Nanalysis benchtop instruments. These tools will not only identify known illicit drugs but will also identify unknown drugs that are derivatives of known illicit substances also referred to as designer drugs or new psychoactive substances (NPS). The non-destructive nature of NMR spectroscopy and the fact that unlike traditional forensic testing methods, it is non-targeted, uniquely positions it to help identify these drugs. The company is developing this application in the context of its quantitative NMR platform technology, which has other applications as well, beyond illicit drug detection.

"We are very grateful for the support of NRC IRAP to further develop complementary software for our Benchtop products," said Nanalysis CEO and Founder Sean Krakiwsky . "This project builds on our ongoing relationship with the LKA police organization in Germany and on our continued culture of magnetic resonance innovation. We look forward to providing more solutions for law enforcement in combatting the increasingly societal problem of designer drugs and other deadly toxins."

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)

Nanalysis Scientific Corp. operates two primary businesses: Scientific Equipment and Security Services. Within its Scientific Equipment business is what the Company terms "MRI and NMR for industry". The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The Company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. In 2020, the Company announced the launch of its 100MHz device, the most powerful and most advanced compact NMR device ever brought to market.

The Company's devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners. With its partners, the Company provides scientific equipment sales and maintenance services globally.

In 2022, through its subsidiary KPrime, the Company was awarded a five-year, $160 million contract with the Government of Canada to provide maintenance services for passenger screening equipment in Canadian airports. This has resulted in the expansion of the Company's Security Services business. The Company is providing airport security equipment maintenance services for the Government of Canada in each province and territory of Canada. In addition, the Company provides commercial security equipment installation and maintenance services to a variety of customers in North America .

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly 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 expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia: https://www.prnewswire.com/news-releases/nanalysis-corp-receives-funding-supporting-ai-software-development-for-detection-of-illicit-substances-302108047.html