Los Angeles, CA., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading manufacturer and systems developer, today announced that the Company has started the process of preparing for a listing of its common shares on the NASDAQ Capital Market (“NASDAQ”).
The Company has engaged a New York based investment bank to begin the NASDAQ listing process. The NASDAQ is a mark of achievement and stature for qualified companies. Listed companies must meet financial and liquidity requirements and satisfy corporate governance and disclosure requirements on both an initial and continuing basis.
The listing of the Company's common shares on the NASDAQ is subject to the approval of the NASDAQ and the ability of the Company to satisfy all applicable listing and regulatory requirements. While the Company intends to satisfy all of the applicable listing criteria, there is no assurance that the NASDAQ will approve the Company’s application or that the Company will complete the listing as proposed.
Draganfly management believes up-listing to NASDAQ will:
- Provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally.
- Increase the visibility of the Company, its growth strategy, accomplishments and results to date.
- Embark on an aggressive M&A strategy.
- Increase liquidity of the Company’s common shares; and
- Raise the Company’s overall profile and ultimately enhance shareholder value.
"Today’s announcement is a significant milestone in our efforts to build Draganfly into an industry-leading manufacturer and systems developer,” said Cameron Chell, CEO of Draganfly. "In addition to increasing our visibility in the marketplace, the up-listing should improve the liquidity of our stock, broaden our institutional shareholder base and augment long-term shareholder value.”
Draganfly had significant growth in 2020 in regard to its customer acquisitions, partnerships, product development and the growth of the Company’s sales pipeline. Here are some highlights from the past twelve months:
- Launched the Vital Intelligence Smart Vital COVID-19 assessment platform that can automatically detect elevated body temperature and, with voluntary consent, heart rate, respiratory rate and O2 saturation, all from a camera that takes seconds to capture the information.
- Launched a telehealth app for third party developers to integrate the Smart Vital technology with their own apps and devices.
- Achieved 200%+ year-over-year revenue growth with 50% quarter-over-quarter revenue growth in the third quarter(1);
- Launched two additional flight services divisions in the mining and facility management industries (which includes providing the delivery via Draganfly’s patented drone technologies of the Varigard pathogen and virus surface sanitizer);
- Exclusive worldwide distributor of Aerovironment’s (NASDAQ: AVAV) Quantix Mapper RPAS;
- Selected by Coldchain Technology Services, LLC to immediately develop and provide flight services of a robust vaccine delivery payload for use in critical regions for drone delivery of the COVID-19 vaccine; and
- Awarded new patent for a vertical take-off and landing (VTOL) cargo delivery drone with variable center of gravity.
Note 1: All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. Please refer to the Company‘s consolidated interim statements for the nine-month period ended September 30, 2020 and associated management discussion and analysis filed under the Company‘s profile on SEDAR at www.sedar.com on November 24, 2020,
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 include, but are not limited to, statements with respect to the Company's anticipated decision, plans, and timing related to the potential listing of its common shares on the NASDAQ, and the Company's ability to meet NASDAQ listing requirements. 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.