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.
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