Canadian Tech Stock Surges on Military Contract Milestone

KWESST Micro Systems Inc. (TSXV:KWE), a Canadian tech stock, climbed after announcing the successful completion of the first phase of three deliverables

Sean Mason | September 22, 2020 | SmallCapPower

Successful completion of certain contract deliverables powered a Canadian tech stock higher Tuesday. Here’s some small stocks making big moves on Tuesday, September 22, 2020 (as of 4 pm EST):

KWESST Micro Systems Inc. (TSXV:KWE), a Canadian tech stock, shot up 39% to $0.85 on Tuesday after announcing what it called the successful completion of the first phase of three deliverables under a contract to support a U.S. military customer, which involves the Company’s Tactical Awareness and Situational Control System for the purpose of target identification, accurate first-shot hits and real-time Battle Damage Assessment.

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As well, shares of ProMIS Neurosciences, Inc. (TSX:PMN) gained 30% to $0.175 as the biotechnology company said it has initiated a program to construct and test a multivalent peptide vaccine for Alzheimer’s disease.

Avricore Health Inc. (TSXV:AVCR), meanwhile, reported that it has signed a Letter of Intent with what the Company calls “a prominent, publicly-traded healthcare technology company and drug maker” to integrate a point-of-care blood chemistry analyzer into Avricore’s HealthTab real-time data reporting system. The companies will work together to license and market this new platform. Avricore Health stock moved up 175% to $0.11 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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