Global UAV Technologies Ltd (TSE:UAV) has released an update.
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Global UAV Technologies Ltd. has requested an exemption from the Canadian Securities Exchange’s Policy 4 to bypass security holder approval for a non-brokered private placement aimed at raising $140,400. The company argues that it faces serious financial difficulties and needs immediate funds for working capital, with the board’s independent directors deeming the move in the company’s best interest.
For further insights into TSE:UAV stock, check out TipRanks’ Stock Analysis page.