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DEFSEC Technologies Inc.

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These are warrants issued by DEFSEC Technologies Inc., representing the contractual right to purchase common stock at a predetermined strike price within a specific timeframe. As derivative securities, these warrants provide leverage to the underlying stock movement, amplifying both gains and losses. Warrants are often used in capital raises to sweeten the terms for investors, particularly for emerging companies in capital-intensive sectors like cybersecurity. The trading value of DFSCW reflects investor expectations about the company's growth prospects and the probability that the exercise price will be favorable relative to future stock prices.