Draganfly to Host Shareholder Update Call
Draganfly, a leading drone solution developer, will host a virtual shareholder update call on May 27, 2021, at 2 PM MST/4 PM EST. CEO Cameron Chell will discuss company milestones, while CFO Paul Sun will review FY2020 and Q1 2021 financial results. Key achievements include securing a $1 million contract with Windfall Geotek, raising $16.45 million through a Regulation A offering, and partnerships with the Southern Alberta Institute of Technology and Woz ED. For registration, visit the company's website.
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Los Angeles, CA, May 26, 2021 (GLOBE NEWSWIRE) -- Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solution developer and operator, announced today that it will host a virtual-only shareholder update call on May 27, 2021, at 2 PM MST/4 PM EST.
The shareholder update call will be facilitated by Draganfly CEO, Cameron Chell, who will review the Company’s milestones, CFO, Paul Sun, who will review the Company’s financial results for FY2020 and Q1 2021 which are planned to be filed after market on Wednesday, May 26th. Draganfly President, Scott Larson will be facilitating pre-submitted and live chat questions and answers.
Registration for the call can be done here.
The Company will answer pre-submitted questions at the conclusion of prepared remarks. Investors are asked to submit their questions to investor.relations@draganfly.com.
Q1 2021 milestones include:
- Secured
$1.0 M flight services contract to deploy EagleEye™ AI flight services with Windfall Geotek Inc. Windfall Geotek flies mining prospect with magnetometers with data placed into EagleEye™ and provides recommended targets for mining companies to drill. - Raised US
$16.45 0 million through the issuance of securities under the Company’s Regulation A offering filed with the U.S. Securities and Exchange Commission. - Entered into an agreement with Southern Alberta Institute of Technology to advance UAV delivery technology, which will include (i) designing, developing, and testing of a cargo system for medical delivery to be mounted on a variety of drones including VTOL rotary and fixed-wing platforms, (ii) developing test protocols, operational procedures, and standards for Beyond Visual Line of Sight medical delivery operation within the framework of Transport Canada, US Federal Aviation Agency, and European Union Aviation Safety Agency procedures and protocols and (iii) developing an operational manual for BVLOS operation of heavy lifting and long endurance RPASS to be used for commercial application under an Air Operator’s Certificate.
- Partnership with Steve Wozniak’s K-12 program Woz ED to be the exclusive supplier of drones to Woz ED’s drone program across its national K-12 curriculum pursuant to a memorandum of understanding with Woz ED with the objective to create the terms and conditions surrounding a business agreement. The memorandum of understanding automatically terminates after 60 days; however, the Company anticipates entering into a definitive agreement with Woz ED during Q2 2021.
- Talladega College implemented Vital Intelligence Smart Vital assessment platform, Vital Signs Assessment Stations, and Social Distancing awareness technologies to be used campus-wide to detect potential symptoms of COVID-19.
- Portage County Sheriff’s Department deployed Vital Intelligence Technology to be used to pre-screen inmates and detainees before bringing them into detention.
- Barrett-Jackson Auction Company implementing Draganfly’s Safely Opening Sites protocol for its March 2021 collector car auction in Scottsdale, AZ. including patented drone technology of the Varigard one-of-a-kind, revolutionary organic sanitizer that provides up to 24-hour of pathogen sequestration and kill-efficacy.
- Designed and delivered Vital Intelligence technology into The 517 Group’s Hospitality and Entertainment Service Organization.
- Selected by Coldchain Technology Services, LLC to develop, deploy and operate solutions for the delivery of medical supplies, medicine, and vaccines. The Company signed a definitive agreement with Coldchain in Q2 2021.
- Entered into a memorandum of understanding with Integrated Launcher Solutions Inc. for the development of a drone-based non-lethal air support defense system. The Company signed a definitive agreement with Integrated Launcher Solutions in Q2 2021.
- Selected by Knightscope to integrate mobile Vital Sign Screening technology into its autonomous security robots.
- Issued new delivery drone patent for variable center of gravity vertical take-off and landing aircraft. US Patent No. 10,807,707 is an unmanned aircraft system (UAS) configured for both vertical take-off and landing (VTOL) and fixed-wing flight operations include forward, and aft wing assemblies mounted to the fuselage, each wing assembly including port and starboard nacelles terminating in motor-driven rotors powered by an onboard control system capable of adjusting rotor speeds.
- Closed acquisition of assets from Vital Intelligence Inc. on March 25, 2021, in consideration for (a) a cash payment of
$500,000 with $250,000 paid at closing and $250,000 t o be paid on the six-month anniversary date of closing; and (b) 6,000,000 units of the Company with each unit being comprised of one common share of the Company and one common share purchase warrant. The units are subject to escrow with 1,500,000 units released at closing and the remainder to be released upon the Company reaching certain revenue milestones received from the purchased assets. Each warrant entitles the holder to acquire one common share for a period of 24 months at an exercise price of$2.67 per common share and the Company can accelerate the expiry date of the warrants after one year in the event the underlying common shares have a value of at least30% greater than the exercise price of the warrants.
About Draganfly
Draganfly Inc. (OTCQB: DFLYF; CSE: DFLY; FSE: 3U8) is the creator of quality, cutting-edge UVS and software that revolutionize the way people do business. Recognized as being at the forefront of technology for over 22 years, Draganfly is an award-winning, industry-leading drone solution developer and operator within the commercial UAV, RPAS, and UVS space, serving the public safety, agriculture, industrial inspections, security, 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 https://www.thecse.com/en/listings/technology/draganfly-inc, https://www.otcmarkets.com/stock/DFLYF/overview or https://www.boerse-frankfurt.de/aktie/draganfly-inc.
Media Contact
Arian Hopkins
email: media@draganfly.com
Company Contact
Phone: 1-306-955-9907
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”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. 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 potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s business, operations and financial condition, the successful integration of technology, 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 disclosed under the heading “Risk Factors“ in the Company’s most recent filings filed with securities regulators in Canada on the SEDAR website 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. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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