Los Angeles, CA., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, today announced that it has advanced field testing of the EagleEye™ land mine detection solution with Windfall Geotek (TSX-V: WIN) (OTCQB: WINKF).
Windfall Geotek is a mining services company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector. This test included joint research, AI development, and engineering support for the development of drones and sensor equipment.
Every day approximately 10 people around the world lose their lives or are maimed due to an anti-personnel mine (" APM"). This means that about 4,200 people are hurt or killed worldwide every year of which 35-42% are estimated to be children. It is estimated that there are between 60-110 million landmines in the ground right now and an equal amount is in stockpiles waiting to be planted or destroyed. Approximately 82 countries around the world are contaminated by APMs. Source: United Nations, Office for Disarmament Affairs.
An estimated US$540,000,000 was spent by industry and government in 2018 to deal with this problem of Landmines and Explosive Remnants of war (identify multiple APM and improvised explosive devices (IEDs) in a variety of terrain and contexts). Source: Landmine Monitor Report 2019.
“Since 2020, Draganfly has invested in new capabilities in drone-based magnetometer technology and other remote sensing equipment," commented Dinesh Kandanchatha, Chairman of Windfall Geotek. “The depth of the Draganfly engineering team, drone services group, and expert advisory in public safety was instrumental to get us to these first tests.”
“Windfall Geotek is the industry leader in AI-based digital exploration for mining. We now have the right mixture of equipment and data to move to the commercialization of an advanced AI-based platform to help solve the global problem of landmines," said Cameron Chell, CEO of Draganfly. “The two companies share a mission of saving lives through technology. These tests are critical to helping create a new solution to this age-old problem. The new and expanded revenue streams for both companies in the Defense sector, Public Safety, and other markets are significant and represent an area where combined offering can excel.”
“For years our foundation has support organizations removing land mines, this type of technology and innovation by Draganfly and Windfall is exactly what is needed to solve this global challenge on a massive scale,” said Admiral Hayward, former head of the US Navy and member of the Joint Chiefs of Staff.
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About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005
Windfall Geotek (TSX-V: WIN), (OTCQB: WINKF) is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall Geotek are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. Windfall Geotek’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
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Additional information about Windfall Geotek is available under Windfall Geotek’s profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software and AI 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-leader serving the public safety, agriculture, industrial inspections, security, 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.
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 include, but are not limited to, statements with respect to the testing and development of the EagleEye™ land mine detection solution. 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.