Draganfly - DPRO STOCK NEWS

Draganfly Inc. (NASDAQ: DPRO), a leading drone solutions developer, has announced a shareholder update call scheduled for August 13th, 2024, at 5:30pm EST. The call will feature CEO Cameron Chell discussing company milestones and CFO Paul Sun reviewing Q2 2024 financial results, which are set to be filed after market close on the same day. Shareholders are invited to pre-submit questions for the Q&A session. This event provides an opportunity for investors to gain insights into Draganfly's recent performance and future outlook directly from the company's leadership.

Draganfly Inc. (NASDAQ: DPRO) has delivered its Advanced Commander 3XL drone and modular payloads to Squamish Search and Rescue (SSAR), marking a significant enhancement in First Responder capabilities. The company is conducting comprehensive training with SSAR team members, focusing on various region-specific scenarios including front and backcountry rescue, critical goods delivery, and swift water rescue.

CEO Cameron Chell emphasized this deployment as the first of many, showcasing Draganfly's commitment to leveraging advanced UAV technology for search and rescue operations. SSAR's Director of Technology, Lianne Girard, expressed excitement about the new tools' potential.

Additionally, Draganfly has amended certain provisions of its previously issued warrants to potentially improve their treatment as shareholder's equity on the company's balance sheet.

Draganfly Inc. (NASDAQ: DPRO) has announced two significant additions to its Board of Directors. Thomas B. Modly, former Acting Secretary and Under Secretary of the U.S. Navy, and Tim Dunnigan, a defense and tech leader, have joined the board. Modly brings extensive experience in leadership and business operations within the Department of Navy, while Dunnigan, previously on Draganfly's Advisory Board, offers valuable insights from his 22-year Army career and entrepreneurial ventures in the defense industry.

CEO Cameron Chell expressed enthusiasm about these appointments, highlighting the strategic value of their combined expertise in military leadership, technology innovation, and business operations. Both new board members shared their excitement about contributing to Draganfly's growth and innovation in the UAV industry.

Draganfly Inc. (NASDAQ: DPRO) held its annual general meeting on July 18, 2024, in Vancouver. Shareholders elected six directors to the Board: Cameron Chell, Scott Larson, Denis Silva, Olen Aasen, Julie Myers Wood, and Kim G C Moody. The company appointed Dale Matheson Carr-Hilton Labonte LLP as auditors.

Key updates include:

• Kim G C Moody joined as a new Director
• Scott Larson appointed as Interim Chair of the Board
• Olen Aasen named Lead Independent Director
• John Mitnick and Andy Card departed from the Board

CEO Cameron Chell expressed enthusiasm about Moody's appointment, citing his expertise in accounting, tax, and trust and estate planning.

Draganfly has been selected by First Atlantic Nickel Corp to aid in the exploration of a potential district-scale awaruite nickel deposit in Atlantic Canada. Utilizing its proprietary drone survey technology, Draganfly aims to identify key mineralization zones within First Atlantic Nickel's 30km nickel-bearing system. CEO Cameron Chell emphasized the role of AI-powered data collection in their long-term strategy. This collaboration will provide high-resolution data to support First Atlantic Nickel's 2024 summer exploration and drilling program, potentially strengthening North America's critical mineral supply chains.

First Atlantic Nickel has announced the strategic partnership with Draganfly to utilize their advanced drone technology for the Atlantic Nickel Project in Newfoundland, Canada. Draganfly will conduct advanced aerial surveys, including a magnetic geophysical survey, to identify high-priority nickel target areas. The project covers a 30-kilometer nickel-bearing ultramafic trend with proven nickel values, aiming to accelerate exploration and potential discovery. Draganfly's drones, equipped with advanced sensors, offer capabilities such as high payload capacity and tolerance to extreme weather conditions. The partnership supports First Atlantic's long-term strategy to leverage AI-powered data for efficient exploration.

Draganfly (NASDAQ: DPRO) announced that CEO Cameron Chell will present at the 'Charting the Course: Navigating the Intersection of TMT and Business in the AI Era' Conference, hosted by Maxim Group Scheduled for June 4-5, 2024, the event will focus on how emerging growth companies, including those in drone technology, are leveraging AI to drive innovation. The conference will feature discussions on technology's impact across various industries, with participation from key management and analysts. Draganfly aims to highlight its advancements in UAV technology during the live broadcast on M-Vest.

Draganfly (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A), a leader in drone technology and UAV solutions, will present at the Centurion One Los Angeles Summit 2024, held at the Beverly Hills Hotel on June 5-6. CEO Cameron Chell will deliver a keynote at 1:00 PM on June 5, focusing on the company's drone solutions across various sectors including defence, public safety, agriculture, industrial inspections, security, mapping and surveying. Chell will also join a panel on scaling business on June 6 at 2:50 PM. The event will gather public and private companies, venture capital, family offices, private equity firms, high-net-worth individuals, and institutional investors.

Draganfly Inc. (NASDAQ: DPRO) reported its Q1 2024 results, showcasing key financial metrics and operational highlights. The company recorded a revenue of $1.33 million, a 45% increase quarter-over-quarter but a 17% decline year-over-year. The gross profit stood at $280,011, down from $443,434 in Q1 2023, with a gross margin of 21.1%. A one-time inventory write-down of $148,760 impacted gross margin, which would have been 32.2% otherwise.

The comprehensive loss reduced significantly to $1.88 million from $7.10 million in Q1 2023. Cash balance improved to $4.34 million as of March 31, 2024, up from $3.09 million at the end of 2023.

The company secured several key agreements, including a partnership with Mass General Brigham for drone delivery in healthcare and Arabian Aero Investment for UAV integration in UAE's solar-powered platform. Draganfly also received accolades for its Commander 3XL drone and completed a $3.6 million public offering to fund growth initiatives.