10:32 AM EDT, 06/10/2024 (MT Newswires) -- Kwesst Micro Systems ( KWE ) said Monday it received a sub-contract valued at up to CA$48 million ($34.8 million) from Thales Canada to deliver software services to support the Canadian Army's digital modernization efforts.

The company signed the contract at close of business Friday. The contract has an initial term of six years, Kwesst Micro ( KWE ) said.

The company's shares were up about 67% in recent trading.

Price: 0.66, Change: +0.27, Percent Change: +67.26