KWESST to expand its investor base to the US with a planned listing on the OTCQB Venture Market

KWESST believes that trading on the OTCQB will provide additional liquidity and increase its visibility in the US capital markets

The technology company also retained Hybrid Financial Ltd for marketing services in Canada and the US

KWESST Micro Systems Inc (CVE:KWE) announced plans on Wednesday to list its shares on the OTCQB Venture Market, expanding its potential investor base to the US.

In a statement, KWESST told shareholders that it believes that trading on the OTCQB will provide additional liquidity and increase its visibility within the US capital markets.

The Ottawa-based technology company also said it had retained Hybrid Financial Ltd to provide marketing and corporate services for a six-month period that is automatically renewable on a three-month basis.

READ: KWESST successfully completes second phase of TASCS contract for key US military customer

Hybrid works on behalf of its clients to build brands and launch products in Canada and the United Stataes. The firm will be paid $22,500 per month, with Steve Marshal acting as the account lead at Hybrid.

KWESST also said it had issued 24,214 shares priced at C$0.70 to AGORA Internet Relations Corp for services rendered in the amount of $16,950.

In addition, the company said it entered into debt settlement agreements with arm’s length parties in order to settle outstanding unpaid debts totalling $47,000. KWESST has agreed to issue 67,143 common shares at a price of $0.70 per share to settle these debts.

The group also granted 50,000 options to an officer of the company to purchase shares of KWESST at $0.70 per share on or before November 20, 2025.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: KWESST

Price: 1.7 CAD

Market: TSX-V
Market Cap: $70.35 m

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on 16/12/20

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