Welcome to our dedicated page for Draganfly news (Ticker: DPRO), a resource for investors and traders seeking the latest updates and insights on Draganfly stock.
Draganfly Inc. develops drone solutions, unmanned aerial vehicle systems and related software for defense, public safety, civil, agriculture, industrial inspection, security, mapping and surveying markets. News about DPRO commonly covers product and platform activity across Flex FPV, Commander 3XL, Apex, Heavy Lift and Outrider systems, including selections, deployments, distribution arrangements and technology integrations.
Recurring updates also include quarterly financial results, shareholder update calls, balance-sheet commentary and corporate strategy. Company announcements frequently connect Draganfly's UAV portfolio with defense procurement, autonomous systems, swarming software, payload options and enterprise or government customer channels in Canada, the United States and other markets.
Draganfly Inc. (NASDAQ: DPRO) has confirmed September 5, 2024, as the effective date for its previously announced 25-to-1 share consolidation. The company expects its common shares to begin trading on a post-consolidated basis at market open on this date, subject to final confirmation from the Canadian Securities Exchange and Nasdaq. This move follows the board's approval of the consolidation on August 23, 2024. Upon completion, Draganfly's CUSIP will change to 26142Q304 and its ISIN to CA26142Q3044. Shareholders seeking more information on the consolidation's effects can refer to the August 23 news release or visit the company's investor relations website for a detailed Q&A document.
Draganfly Inc. (NASDAQ: DPRO) has announced a 1-for-25 share consolidation effective September 3, 2024. This move aims to ensure compliance with Nasdaq listing requirements. Post-consolidation, the company's outstanding common shares will reduce from 87,166,435 to 3,486,658. The consolidation will adjust the exercise price and number of shares issuable under outstanding convertible securities proportionately. Shareholders will receive instructions for exchanging their shares via a letter of transmittal from Endeavour Trust The company's name and stock symbols will remain unchanged, but new CUSIP and ISIN numbers will be assigned. Fractional shares will be rounded up to the nearest whole number.
Draganfly Inc. (NASDAQ: DPRO) has closed a US$2.0 million registered direct offering of 16,666,666 units, each priced at US$0.12. Each unit consists of one common share (or pre-funded warrant) and one warrant to purchase one common share at US$0.15, exercisable immediately and expiring in five years. Maxim Group acted as the sole placement agent. The company plans to use the net proceeds for general corporate purposes, including funding new product demand, growth initiatives, working capital, product development and marketing, potential acquisitions, and R&D. The offering was made under an effective shelf registration and base shelf prospectus, with securities sold only in the United States.
Draganfly Inc. (NASDAQ: DPRO) has announced a US$2.0 million registered direct offering with a single institutional investor. The offering includes 16,666,666 units at US$0.12 per unit, each consisting of one common share (or pre-funded warrant) and one warrant. The warrants have an exercise price of US$0.15 per share and a 5-year expiration. Maxim Group is the sole placement agent. Draganfly plans to use the proceeds for general corporate purposes, including funding new product demand, growth initiatives, working capital, and potential acquisitions. The offering is expected to close around August 21, 2024, subject to customary conditions and regulatory approvals.
Draganfly Inc. (NASDAQ: DPRO) reported a 30.3% quarter-over-quarter revenue increase in Q2 2024, reaching $1,732,990. Product sales accounted for $1,387,350 of the total revenue. Gross profit rose by 64.9% quarter-over-quarter to $461,673, with a gross margin of 26.6%. The company recorded a comprehensive loss of $7,097,638. Draganfly launched its FlexModular FPV UAV System for government and military use, partnered with First Atlantic Nickel Corp. for drone surveys, and deployed record numbers of drone crews for wildfire support. The company also closed a $3.5 million offering and announced collaborations with ParaZero Technologies, Squamish Search and Rescue, Doodle Labs, and UXV Technologies to enhance UAV operations and safety.
Draganfly Inc. (NASDAQ: DPRO) has announced a strategic partnership with The Institute for Drone Technology, appointing them as a value-added distributor of Draganfly's drone technology in Australia. This collaboration aims to meet the growing demand for advanced drone solutions in the Australian market, particularly in government, enterprise, and public safety sectors.
Key points:
- The Institute for Drone Technology will distribute Draganfly's UAV technology to its extensive customer base
- Draganfly will participate in the Land Forces International Land Defence Exposition in September
- The partnership is expected to enhance operational efficiency, safety, and innovation across various sectors in Australia
Draganfly Inc. (NASDAQ: DPRO), a leading drone solutions developer, has announced a shareholder update call scheduled for August 13th, 2024, at 5:30pm EST. The call will feature CEO Cameron Chell discussing company milestones and CFO Paul Sun reviewing Q2 2024 financial results, which are set to be filed after market close on the same day. Shareholders are invited to pre-submit questions for the Q&A session. This event provides an opportunity for investors to gain insights into Draganfly's recent performance and future outlook directly from the company's leadership.
Draganfly Inc. (NASDAQ: DPRO) has delivered its Advanced Commander 3XL drone and modular payloads to Squamish Search and Rescue (SSAR), marking a significant enhancement in First Responder capabilities. The company is conducting comprehensive training with SSAR team members, focusing on various region-specific scenarios including front and backcountry rescue, critical goods delivery, and swift water rescue.
CEO Cameron Chell emphasized this deployment as the first of many, showcasing Draganfly's commitment to leveraging advanced UAV technology for search and rescue operations. SSAR's Director of Technology, Lianne Girard, expressed excitement about the new tools' potential.
Additionally, Draganfly has amended certain provisions of its previously issued warrants to potentially improve their treatment as shareholder's equity on the company's balance sheet.
Draganfly Inc. (NASDAQ: DPRO) has announced two significant additions to its Board of Directors. Thomas B. Modly, former Acting Secretary and Under Secretary of the U.S. Navy, and Tim Dunnigan, a defense and tech leader, have joined the board. Modly brings extensive experience in leadership and business operations within the Department of Navy, while Dunnigan, previously on Draganfly's Advisory Board, offers valuable insights from his 22-year Army career and entrepreneurial ventures in the defense industry.
CEO Cameron Chell expressed enthusiasm about these appointments, highlighting the strategic value of their combined expertise in military leadership, technology innovation, and business operations. Both new board members shared their excitement about contributing to Draganfly's growth and innovation in the UAV industry.
Draganfly Inc. (NASDAQ: DPRO) held its annual general meeting on July 18, 2024, in Vancouver. Shareholders elected six directors to the Board: Cameron Chell, Scott Larson, Denis Silva, Olen Aasen, Julie Myers Wood, and Kim G C Moody. The company appointed Dale Matheson Carr-Hilton Labonte LLP as auditors.
Key updates include:
- Kim G C Moody joined as a new Director
- Scott Larson appointed as Interim Chair of the Board
- Olen Aasen named Lead Independent Director
- John Mitnick and Andy Card departed from the Board
CEO Cameron Chell expressed enthusiasm about Moody's appointment, citing his expertise in accounting, tax, and trust and estate planning.