DRAGANFLY ANNOUnces letter of intent with global uav technologies to acquire pioneer aerial surveys and high eye aerial imagi...
2020年5月19日 - 10:15PM
Draganfly Inc. (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8)
(“
Draganfly” or the “
Company”),
an award-winning, industry-leading systems developer within the
commercial Unmanned Aerial Vehicle (“
UAV”) and the
Unmanned Vehicle Systems (“
UVS”) industry, is
pleased to announce that it has entered into a letter of intent
(the “
LOI”) with Global UAV Technologies Inc.
(“
Global UAV”) to acquire (the “
Proposed
Transaction”) two-wholly owned subsidiaries, being Pioneer
Aerial Surveys Ltd. and High Eye Aerial Imaging Inc. (the
“
Global UAV Subsidiaries”). The Proposed
Transaction, if completed, will constitute a fundamental change of
Global UAV within the meaning of the policies of the Canadian
Securities Exchange Inc. (the "
CSE") and will be
subject to approval by the shareholders of Global UAV.
Transaction Highlights
- Continues to establish
Draganfly as a leading, diversified drone organization:
The Global UAV Subsidiaries have total revenues in excess of
CAD$4.0 million since 2017, with Pioneer Aerial Surveys having
gross revenue of $1,936,501 in the financial year ended 2019.
- Strategically Positioned to
Leverage Draganfly’s Brand: The acquisition of the Global
UAV Subsidiaries will be a complementary business to Draganfly and
expand Draganfly’s total addressable market and enhance its
position as a leader in the UAV and UVS industry.
- Established History of
Providing Drone Services: The Global UAV Subsidiaries have
been operating since 2017.
- Expansion of Services
Offered: Pioneer Aerial Surveys is a global leader in
providing UAV based geophysical surveys to the mining and
industrial sectors with a focus on providing magnetic data to
clients around the globe. High Eye Aerial Imaging provides LiDAR
services.
Cameron Chell, Chairman and CEO, stated,
"Pioneer Aerial and High Eye Aerial are premier aerial service
providers in the mining industry. With the increase in global
mining activity and the anticipated regulatory clarity of being
able to deploy Beyond Visual Line Of Sight use of drones in the
mining industry, we see an exponential growth opportunity for
Draganfly to become the #1 or #2 global provider of aerial and data
services in the mining industry".
Material Terms of the Agreement
- On closing of the transaction (the
“Closing”), the Company will have paid to Global
UAV CAD$350,000, which will consist of the following: (i) a cash
payment of CAD$125,000, and (ii) CAD$225,000 in common shares
of Draganfly based on a thirty (30) day volume weighted average
price per common share of Draganfly following the execution of the
LOI.
- Draganfly will grant Global UAV a
royalty of 7.5% of gross revenue generated from UAV magnetometer
and LiDAR systems for a period of eighteen months from Closing and
assume $50,000 in liabilities that have been incurred by the Global
UAV Subsidiaries.
- Closing is subject to shareholder
approval from the shareholders of Global UAV and a number of
closing conditions customary for a transaction of this nature,
including the filing of required forms with the Canadian Securities
Exchange.
About the Global UAV Subsidiaries
Pioneer Aerial Surveys is leading the industry
in UAV remote sensing for mineral exploration, mine site surveys,
agricultural and forestry related services and safety inspections
and developing the first UAV-MAG™ system on the market and have
deployed it in mineral exploration and unexploded ordinance
surveys. Pioneer Aerial Surveys pushes the limits and capabilities
of remote sensing in the exploration industry for our global client
list including major, mid tier, and junior mining and exploration
clients. High Eye Aerial Imaging is committed to providing high
quality aerial images from a unique perspective that cannot be
obtained by aircraft. High Eye specializes in LiDAR data
acquisition.
About Draganfly
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE:
3U8) is the creator of quality, cutting-edge, unmanned vehicle
systems and software that revolutionizes the way people do
business. Recognized as being at the forefront of technology for
over 22 years, Draganfly is an award-winning, industry-leading
manufacturer within the commercial UAV and UVS space, serving the
public safety, agriculture, industrial inspections and mapping and
surveying markets. Draganfly is a company driven by passion,
ingenuity and the need to provide efficient solutions and
first-class services to its customers around the world with the
goal of saving time, money and lives.
For more information on Draganfly, please visit
us at: www.draganfly.com. For additional investor information,
visit www.thecse.com searching DFLY or visit
https://www.boerse-frankfurt.de/ searching 3U8.
Media Contact
Arian Hopkins email: media@draganfly.com
Company Contact
Email: info@draganfly.com
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “believe” or
similar terminology. Forward-looking statements and information
include, but are not limited to, statements with respect to
expected closing of the transaction or the expected closing date of
the transaction, transaction benefits, expected additional
revenues, expected growth, results of operations, performance,
industry trends and growth opportunities. Forward-looking
statements and information are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions
that, while believed by management to be reasonable, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Forward-looking statements and
information are subject to various known and unknown risks and
uncertainties, many of which are beyond the ability of the Company
to control or predict, that may cause the Company’s actual results,
performance or achievements to be materially different from those
expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set
out here in, including but not limited to: the risk that the
transaction may not be completed as expected or at all; the
expected benefits of the transaction and additional revenues may
not materialize; the inherent risks involved in the general
securities markets; uncertainties relating to the availability and
costs of financing needed in the future; the inherent uncertainty
of cost estimates and the potential for unexpected costs and
expenses, currency fluctuations; regulatory restrictions,
liability, competition, loss of key employees and other related
risks and uncertainties. For more information on the risk,
uncertainties and assumptions that could cause anticipated
opportunities and actual results to differ materially, please refer
to the public filings of Draganfly which are available at
www.sedar.com. The Company undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents managements’ best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Readers are advised not to place undue
reliance on forward-looking statements or information.
This news release also contains future-oriented
financial information and financial outlook information
(collectively, “FOFI”) about the pro forma revenue
of the resulting issuer which are subject to the same assumptions,
risk factors, limitations and qualifications as set forth in the
above paragraphs. FOFI contained in this news release was made as
of the date of this news release and was provided for the purpose
of providing further information about Draganfly’s anticipated
future business operations. Draganfly disclaims any intention or
obligation to update or revise any FOFI contained in this press
release, whether as a result of new information, future events or
otherwise, unless required pursuant to applicable law. FOFI
contained in this news release should not be used for purposes
other than for which it is disclosed herein. Such future-oriented
production information is provided for the purpose of providing
information about management's current expectations and plans
relating to the future. Readers are cautioned that such outlook or
information should not be used for purposes other than for which it
is disclosed in this news release.
The CSE has not in any way passed upon the
merits of the listing of the common shares of Draganfly and has
neither approved nor disapproved the contents of this news
release.
Draganfly (CSE:DFLY)
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