Draganfly prices 4.67M units at $5.35 in registered direct offering

Draganfly (DPRO) entered into a securities purchase agreement with several institutional investors to purchase 4,672,895 units of the Company, at a price of $5.35 per Unit, for gross proceeds of approximately $25M, before deducting placement agent discounts and offering expenses. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant. The Warrants will entitle the holder thereof to purchase one Common Share at an exercise price of C$7.3579 per Common Share, are exercisable immediately and will expire five years following the date of issuance. Maxim Group is acting as sole placement agent 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 July 21, subject to the satisfaction of customary closing conditions.