Mr. Kris Denis reports

KWESST MICRO SYSTEMS INC. ANNOUNCES CLOSING OF UNITED STATES PUBLIC OFFERING

Kwesst Micro Systems Inc. has closed its previously announced underwritten public offering of 735,000 common shares and 803,500 prefinanced warrants with an exercise price of 0.1 cent at a public offering price of 65 U.S. cents per share and 64.9 U.S. cents per prefinanced warrant, less the underwriting discount. The gross proceeds from the offering, before deducting the underwriting discount of 4.875 U.S. cents per common share (being an aggregate of $75,002 (U.S.) or 7.5 per cent of the public offering price of the securities) and estimated offering expenses payable by the company, were approximately $1-million (U.S.). In addition, the company issued to the underwriter as compensation for its services 76,925 common share purchase warrants with an exercise price of 81.25 U.S. cents per share. All of the common shares and prefinanced warrants were offered by the company.

ThinkEquity acted as sole bookrunning manager for the offering.

The company intends to use the net proceeds from the offering primarily for working capital requirements, general corporate purposes and the advancement of its business objectives.

The offering was made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (SEC). The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC's website. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, on the 41st floor, 17 State St., New York, N.Y., 10004, attention: prospectus department.

About Kwesst Micro Systems Inc.

Kwesst develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company's current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons. Other Kwesst products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM (original equipment manufacturer) products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary non-lethal product line branded Para Ops with application across all segments of the non-lethal market, including law enforcement. The company is headquartered in Ottawa, Canada, with operations in Guelph, Ont., Canada, and Youngsville, N.C., USA, as well as representative offices in London in the United Kingdom and Abu Dhabi in the United Arab Emirates (UAE).

We seek Safe Harbor.