KWESST Micro Systems Inc. (CVE:KWE) (OTCQB:KWEMF) announced that it has appointed Rick Bowes to the new position of vice president, Operations to oversee and accelerate market introduction of the company's products and services for Digitization and Tactical Products (DTP).
The DTP business unit comprises the bulk of the company's current products and services, including TASCS, ATAK integration, the GreyGhost micro missile against hostile drones, the laser defence system and the Phantom electronic decoy.
In conjunction with Bowes appointment, the company also announced that Steve Archambault, who has been serving as part-time chief financial officer since the company's listing in September 2020, will now assume this role on a full-time basis.
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"With the expected closing of our recently announced $4 million over-subscribed brokered private placement, KWESST is positioned to execute on an expanded business plan," said Jeff MacLeod, KWESST Founder, President and CEO. "The appointments announced today add bench strength for accelerated market introduction across our growing portfolio of products and services."
"We are very pleased indeed to welcome Rick as VP Operations," added David Luxton, KWESST executive chairman said in a statement.
"He brings a rare combination of senior defence industry experience and domain knowledge that is directly relevant to our key markets and programs. He also has proven business capture experience and long-standing relationships with major defence contractors. We are equally pleased that Steve Archambault has committed to the Company on a dedicated, full-time basis in the role of CFO," Luxton added.
Prior to his various senior roles with defence contractors such as General Dynamics Canada, DRS Technologies Canada (now Leonardo DRS), ATCO Frontec and ADGA Group Inc., Bowes had a distinguished career as a senior officer in the Canadian Army, retiring in 2003 as a Lieutenant Colonel. He is a graduate of Royal Military College of Canada and served in various operational and staff roles in the Canadian military and on secondment to the British Army.
As an armour officer, Bowes served with various units such as Lord Strathcona's Horse (Royal Canadians) and the Canadian Airborne Regiment Battle Group across Canada and in deployed operations in Bosnia-Herzegovina with the UN Protection Force and the NATO Stabilization Force (SFOR). He was also part of the planning team for Canada's participation in the NATO Kosovo Force (KFOR) mission in 1999.
The company said the terms of these appointments include a grant of 300,000 stock options to Bowes, with each stock option being exercisable at a price equal to the closing price of the company's shares on the TSX Venture Exchange on April 16, 2021, on or before April 13, 2026, and a grant of Restricted Share Units (RSUs) to Archambault equal to $25,000 divided by the closing price of the company's shares on the TSX Venture Exchange on April 16, 2021.
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 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; the autonomous GreyGhost 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 belectronic 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.
Contact the author at jon.hopkins@proactiveinvestors.com