Draganfly Signs Definitive Option to Acquire 100% of the Assets of the subsidiaries of Global UAV Technologies

Pioneer Aerial Surveys Ltd and High Eye Aerial Imaging Inc.

Vancouver, BC, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading manufacturer within the commercial Unmanned Aerial Vehicle (“UAV”), Remotely Piloted Aircraft Systems (“RPAS”), and Unmanned Vehicle Systems (“UVS”) sectors, is pleased to announce that its wholly-owned subsidiary Dronelogics Systems Inc. (“Dronelogics”) has signed an exclusive option to acquire 100% of the assets of the wholly-owned subsidiaries of Global UAV Technologies: Pioneer Arial Surveys Ltd. (“Pioneer”) and High Eye Aerial Imaging Inc. (“High Eye”, together with Pioneer the “Global UAV Subsidiaries”) once certain closing conditions are met.

Global UAV Technologies is a leader within the commercial UAV sector. Through the Global UAV Subsidiaries, Global UAV Technologies provides a full spectrum of UAV-based services and products, including light detection and ranging (“LiDAR”) services. These opportunities include production, research and design of professional grade UAV’s, geophysics and remote sensing survey services, and regulatory consulting and management.

"Global UAV Technologies is a market leader in the UAV sector,” said Scott Larson, Draganfly President. “This transaction allows us to expand our service offering, branch into new industries, particularly the mining and resource sector, and continue to be an innovation leader".

Transaction Highlights

• Reinforces Draganfly’s position as an industry leading, diversified drone organization: The combined market share will cement Draganfly as a leading industry participant, able to offer a premium suite of services.

• Strategically Positioned to Leverage Draganfly’s Brand: The acquisition of the Global UAV Subsidiaries will be a complementary business to Draganfly and expand Draganfly’s total addressable market and enhance its position as a leader in the UAV and UVS industry.

• Established History of Providing Drone Services: The Global UAV Subsidiaries have been operating since 2017.

• Expansion of Services Offered: Pioneer Aerial Surveys is a global leader in providing UAV based geophysical surveys to the mining and industrial sectors with a focus on providing magnetic data to clients around the globe. High Eye Aerial Imaging provides LiDAR services.

Material Terms of the Agreement