KWESST Micro Systems (TSE:KWE) has released an update.
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KWESST Micro Systems plans to issue 119,047 common shares at a discounted price to settle a $100,000 debt with a company controlled by its Executive Chairman, David Luxton. This move is aimed at preserving the company’s cash position and has been approved by its board of directors. The transaction requires approval from the TSX Venture Exchange and involves a related party transaction exemption.
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