The Unmanned Aircraft Systems (UAS) Market Revenue Expect to Exceed $27 Billion In 2025 - Seite 2

Plymouth Rock Technologies Inc. (CSE: PRT.CNQ) (OTCQB: PLRTF) BREAKING NEWS:  PLYMOUTH ROCK ANNOUNCES ACQUISITION OF TETRA DRONES -  Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in developing threat detection and unmanned technologies, is pleased to announce that it has signed a binding LOI to acquire, in whole, Tetra Drones Limited ("Tetra" or "Tetra Drones"), a developer of custom-made, high-performance and niche Unmanned Aircraft Systems (UAS).

The proposed transaction will take the form of a corporate combination whereby PRT will acquire all of the then issued and outstanding shares of Tetra Drones. Tetra has issued and outstanding share capital of 100 ordinary shares held by the sole Shareholder, Mr. Ben Pickard.

The terms of the LOI shall be a binding agreement of the parties. The form and substance of a definitive agreement (the "Definitive Agreement") is to be negotiated on or before April 30, 2021.

Plymouth Rock has agreed to acquire the Tetra Shares for the sum of £350,000 payable in installments and satisfied in cash.

Payment of the Purchase Price will be on the following schedule:

(a)  As to 10% of the Purchase Price (£35,000), within seven (7) days after the date the Definitive Agreement has been executed and delivered by all parties thereto (the "Initial Payment");

(b)  As to an additional 10% of the Purchase Price (£35,000), within 21 days of the Initial Payment (the "Second Payment");

(c)  As to an additional 40% of the Purchase Price (£140,000), within 120 days of the Second Payment (the "Third Payment"); and

(d)  As to the balance of 40% of the Purchase Price (£140,000), within 120 days of the Third Payment

"Like PRT, Tetra is highly focused on supporting its customers around the world with the most reliable and purposeful products and services for their missions", said Carl Cagliarini, Chief Strategy Officer of PRT. "As we welcome the Tetra team to PRT, we commit to moving forward into a sales phase within the USA and EU. The addition of the team members and facility ties in perfectly with our long-term strategy, which adds a significant expansion to PRT's reach and technical capability", concluded Cagliarini.   Read this and more news for PRT at:  https://www.plyrotech.com/news/