Draganfly (DPRO) has entered into a securities purchase agreement with a single institutional investor to purchase 1,600,000 units of the Company, with each unit consisting of one common share and one warrant to purchase one common share. Each unit was sold at an offering price of US$2.35, for gross proceeds of approximately US$3.76 million, before deducting placement agent discounts and offering expenses. The warrants will have an exercise price of CA$3.3086 per share, are exercisable immediately and will expire five years following the date of issuance and the exercise price will be in Canadian currency. Maxim Group is acting as sole placement agent for the Offering . The Offering is subject to customary closing conditions including receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange and notification to the Nasdaq Stock Market. Draganfly currently intends to use the net proceeds from the Offering for general corporate purposes, including to fund its capabilities to meet demand for its new products including growth initiatives and/or for working capital requirements including the continuing development and marketing of the Company’s core products, potential acquisitions and research and development. The Offering is expected to close on or about November 19, 2024, subject to the satisfaction of customary closing conditions.
