Integrated Launcher Solutions Finalizes Definitive Agreement with Draganfly to Develop Drone-Based Non-Lethal Air Support Defense System

Rhea-AI Summary

Draganfly Inc. (OTCQB: DFLYF) has secured a contract with Integrated Launcher Solutions (ILS) for the engineering and development of a drone-based non-lethal multi-launching system. This initiative focuses on creating a non-lethal 40mm multi-launching system for military and public safety applications. Draganfly is providing $150,000 in strategic vendor financing to support the project, and in return, ILS will grant the company 8% of gross revenue from the project for five years. This collaboration aims to enhance public disturbance management solutions.

Positive

• Contract Secured: Draganfly has signed a significant contract with ILS for drone technology.
• Strategic Financing: A $150,000 loan has been provided to support project development.
• Revenue Potential: Draganfly will earn an 8% royalty on gross revenue from the project, enhancing future revenue streams.

Negative

• None.

Los Angeles, CA, May 19, 2021 (GLOBE NEWSWIRE) -- Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone manufacturer and systems developer, is pleased to announce today that Integrated Launcher Solutions (“ILS”) has signed a contract with Draganfly to provide engineering and development services for a drone-‎based non-lethal multi-launching system‎.

The contract provides for the development, prototyping, and eventual production of a non-lethal 40mm ‎multi-‎launching systems that can be mounted and deployed from drones, drone systems, robots, ‎robotic systems, and other stationary platforms or similar systems. The main use case of the ‎launch system is public disturbance management for military and public safety organizations.‎ Draganfly will provide ILS with its development and engineering expertise ‎in connection with the project.

ILS is a systems development and technical integration services company headquartered in Ontario with operations in Florida, with a vision to continually improve launch, range, and space systems for its client base of US defense organizations and contractors.

“We are excited to combine our engineering efforts and innovate a North American developed and made solution,” said Greg Sullivan, CEO, ILS. “Draganfly’s ability to ideate, innovate and commercialize systems and products is unparalleled.”

“The Draganfly team is honored to be providing the right set of expertise, engineering, and management on the development of this very important drone technology for ILS,” said Cameron Chell, CEO of Draganfly. “I am confident that the Draganfly team will provide the right set of expertise and management to develop the non-lethal ILS Air support Defense System.”

As part of the contract Draganfly has provided ILS with strategic vendor financing of US$150,000 to assist in the development of the project and in consideration ILS has granted Draganfly a worldwide royalty equal to 8% of the gross revenue received from the project for a period of five years from earlier of the repayment date or maturity date of the loan. The loan is secured against the intellectual property related to the project.

About Draganfly

Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge and software, and systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 22 years, Draganfly is an award-winning, industry-leading manufacturer and technology developer 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
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.‎

FAQ

What is the contract Draganfly signed with ILS?

Draganfly signed a contract with Integrated Launcher Solutions to develop a non-lethal multi-launching drone system aimed at military and public safety applications.

How much financing did Draganfly provide for the ILS project?

Draganfly provided ILS with $150,000 in strategic vendor financing for the project development.

What revenue will Draganfly earn from the ILS project?

Draganfly will receive an 8% royalty on gross revenue from the ILS project for five years.

When was the contract with ILS announced?

The contract with ILS was announced on May 19, 2021.