Kwesst Micro Systems Inc (OTCMKTS:KWEMF) Stock In Focus After The Recent News
Kwesst Micro Systems Inc (OTCMKTS:KWEMF) stock was in focus as the stock ended lower on Tuesday after the recent consolidation.
Market Action
In the previous trading session, KWEMF fell 5.50% to $1.50. A total of 89k shares traded for the session hands, well above its average volume of 28K shares. The stock opened at $1.62 and moved in a range of $1.4968 – 1.6200.
Key Trigger
KWESST Engages Stryk Group USA for Commercialization of Low Energy Cartridge Non-Lethal System
Kwesst Micro announced that it has engaged Stryk Group USA, (“Stryk Group”), headquartered in Bozeman, Montana, as the Company’s strategic partner for commercialization of KWESST’s Low Energy Cartridge (“LEC”) non-lethal products in the U.S.
KWESST’s proprietary LEC technology solves the twin problems of high-energy “less lethal” cartridge-based munitions that can sometimes be lethal, and the problem of air-powered alternatives that lack the reliability of a cartridge-based system. The LEC is a novel, patent-pending system comprising: a specialized, low-cost firing platform, and a “munition” having a cartridge case with a low-energy “actuator” that propels and stabilizes a polymer projectile.
Projectiles can be solid polymer for “pain compliance” or target practice; or a bullet-shaped hollow “plug” containing a bright marking agent for realistic training; or, a high-potency irritant powder for temporary incapacitation for use in self defense, law enforcement or animal control, plus an inert powder variant for practice.
Key Quote:
“This is a crucial step in our roadmap to bring LEC products to market in the U.S., with an official hard launch at the SHOT Show in Las Vegas, January 18-21, 2022,” said David Luxton, Executive Chairman of KWESST. “Like others in the industry, we are well acquainted with the standout capabilities of the team at Stryk Group to build major brands in the shooting and outdoor trade.” He added, “From previous work with them in other ventures, they are hands-down the go-to specialists in this field for me. Their marquee client list speaks for itself, and we are very pleased that they share our confidence in the transformative potential of the LEC.”