DRAGANFLY ANNOUnces letter of intent with global uav
DRAGANFLY ANNOUnces letter of intent with global uav technologies to acquire pioneer aerial surveys and high eye aerial imaging
Columbia, May 19, 2020 (GLOBE NEWSWIRE) -- 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.
- 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.