Draganfly prices 1.715M units at $2.10 in underwritten public offering

Draganfly (DPRO) announced the pricing of its previously announced underwritten public offering of 1,715,000 units, with each unit consisting of one common share and one warrant to purchase one common share. Each unit is to be sold at a public offering price of $2.10, for gross proceeds of approximately $3.6M, before deducting underwriting discounts and offering expenses. The warrants will have an exercise price of C$3.9779 per share, are exercisable immediately and will expire five years following the date of issuance. In addition, the Company granted the underwriter a 45-day over-allotment option to purchase up to an additional 15% of the number of common shares and/or warrants offered in the Offering. Maxim Group is acting as sole book-running manager for the Offering. 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 May 5, subject to the satisfaction of customary closing conditions.