Vancouver, British Columbia, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Draganfly Inc. (CSE: DFLY) (“ Draganfly” or the “ Company”), an award-winning, industry-leading manufacturer within the commercial Unmanned Aerial Vehicle (“ UAV”) and Unmanned Vehicle Space (UVS) space, is pleased to announce that it will begin trading on the Canadian Securities Exchange (“ CSE”) under ticker symbol “DFLY”.
Chairman and CEO, Cameron Chell, “Dynamic industry expansion and recent regulatory and government positions on drone operations in North America focused on securing, promoting and adopting North American technology has Draganfly well positioned for growth. We are fortunate to be able to access the public markets to support this growth and the evolution of the drone and unmanned vehicle space in North America”.
For further details of the Company and the listing transaction, please refer to the non-offering prospectus of the Company dated October 23, 2019, available on SEDAR at www.sedar.com.
The Company also announced today the grant of stock options and restricted share units (“ RSUs”) to certain officers, directors and employees of the Company. Incentive stock options to purchase up to 2,925,000 common shares were granted to officers, directors and employees of the Company, pursuant to the Company's share compensation plan, exercisable at a price of $0.50 per common share. The options shall have a term of 10 years and vest in three equal tranches, on the first, second and third anniversaries of the date of grant. In addition, 2,925,000 RSUs were awarded to officers, directors and employees pursuant to the Company's share compensation plan. The RSUs shall vest in three equal tranches, on the first, second and third anniversaries of the date of grant.
Business of Draganfly
Draganfly Inc. is the creator of quality, cutting-edge, unmanned vehicle systems and software that revolutionize the way people do business. Recognized as being at the forefront of technology for over 21 years, Draganfly is an award-winning, industry-leading manufacturer within the commercial UAV 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 further information please contact:
2108 St. George Avenue
Saskatoon, SK S7M 0K7
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 include, but are not limited to, statements with respect to receipt of final approval from the Canadian Securities Exchange, the expected timing of commencement of trading and its future growth. 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 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. 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.
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. Listing of the common shares of Draganfly is subject to satisfaction of the listing requirements of the CSE, including customary deliverables in satisfaction of the conditional approval.