Vancouver, British Columbia, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Draganfly Inc. (CSE:DFLY) (DFLYF) (3U8.F) (“Draganfly” or the “Company”), a developer within the commercial Unmanned Aerial Vehicle (“UAV”) and the Unmanned Vehicle Systems (“UVS”) industry, announces that the Company is not aware of any material undisclosed information and wishes to make the following statements regarding recent sponsored news and marketing activities concerning its shares of common shares traded on the OTCQB market.
On January 30, 2020, OTC Markets Group (“OTC Markets”) sent the Company a copy of a promotional newsletter published by Financial News Now.com on January 22, 2020 (the “Article”) and requested comment from the Company. The Article sets out recent current events in the UAV and UVS industry, a description of the Company’s business, and matters relating to investment in the Company. This is a third party utilized by IDR Marketing. Inc. (“IDR”), which was retained by the Company to assist with financial marketing efforts in order to increase investor awareness within North America. The Company recognizes that the Article coincided with higher than average trading volume in the Company's common shares and believes that activity can fairly be attributed to several factors, namely, its announcement of the acquisition of Dronelogics Systems Inc. (see press release of the Company dated January 16, 2020), the subsequent news flow of some material advancements of the Company’s business plan (see press releases dated January 22 and January 30, 2020 ) and the initiation of a broad investor awareness campaign undertaken by the Company. Since its public listing on the Canadian Securities Exchange on November 5, 2019 and as previously disclosed by news release by the Company on November 1, 2019, the Company has engaged the following parties to provide investor relations, public relations services, marketing or other related services: IDR, Star Finance GmbH, More Media Inc. and CDMG Inc.
The Company was aware of the Article before receiving it from OTC Markets. The Article was originally published on November 5, 2019. The Company did not have editorial control of the content of the Article. IDR’s engagement was to factually tell the Company’s story in an accretive and transparent manner. Statements made in the promotional materials are not materially false and/or misleading. The factual information provided in the promotional material, which was extracted from the Company’s public disclosure, our website and press releases, is accurate, however, any opinions expressed by the author are his alone as the Company had no right of edit or control over those opinions.
After reasonable inquiry, the Company confirms that it is not aware of any of its directors and control persons, its officers, directors, any shareholders owning 10% or more of the Company's securities, or any third-party service providers that may have, directly or indirectly, been involved in any way (including payment of a third-party) with the creation, distribution, or payment of promotional materials related to the Company and its securities, other than that which has been disclosed in this news release.
After reasonable inquiry of management, the directors, control persons, and any third-party service providers, the Company, its officers, directors, any controlling shareholders, or any third-party service providers (in connection with the Article) have not sold nor purchased the Company’s securities within the past 90 days.
Since its public listing, the Company has not issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge, unmanned vehicle systems and software that revolutionizes 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 and UVS 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 more information on Draganfly, please visit us at: www.draganfly.com. For additional investor information, visit www.thecse.com searching DFLY or visit https://www.boerse-frankfurt.de/ searching 3U8.
Paul Sun, CFO