Los Angeles, CA, July 03, 2020 (GLOBE NEWSWIRE) -- Draganfly Inc. (CSE: DFLY) (OTCQB: DFLYF) (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 lead director Scott Larson will be the company’s interim President to fulfill leadership requirements in the short term effective immediately.
Mr. Larson brings over 20 years of combined operational, corporate finance, technology development and entrepreneurial experience to the Board. Previously CEO of Kater, a Vancouver-based mobility as a service (MaaS) company building out an integrated intermodal transportation platform incorporating public transportation, buses, taxis and ride haling vehicles into a single service. Previously, Mr. Larson has been CEO and co-founder of Helios Wire, a satellite company building out a space-enabled IoT/M2M network, and was CEO/Co-Founder of UrtheCast. Mr. Larson helped scale the company from its inception, taking it public on the Toronto Stock Exchange, raising $200 million, and leading the company to 250 employees over five years with seven offices around the world.
“Draganfly has gone through significant expansion over the past six months, and we need additional leadership to help guide the company through its next phase of evolution. This includes the addition of Scott Larson as the Company’s interim President. Scott brings deep financial, executional and operational knowledge to the team. We have great confidence in Scott’s leadership and track record of excellence,” said Cameron Chell, CEO Draganfly.
“I am committed to working closely with the Draganfly leadership team to drive enhanced agile performance throughout the organization. The Company has incredible increased opportunity within various industries and I am excited to expand on our already solid foundation,” said Scott Larson, President Draganfly.
Mr. Larson has served as the company’s Lead Independent Director since April 30, 2020 and was appointed to the board of directors in 2019. In connection with his appointment as interim Present, Mr. Larson will be granted 500,000 stock options to acquire common shares of Draganfly at a price of $0.64 per common share.
Draganfly also announces that it has completed a private placement of 961,538 common shares at a price of $0.52 (the “Private Placement”) with proceeds to be used for general working capital purposes. The common shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge UVS and software that revolutionize the way people do business. Recognized as being at the forefront of technology for over 22 years, Draganfly is an award-winning, industry-leading manufacturer within the commercial UAV, RPAS, and UVS space, 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.
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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.