Los Angeles, CA., July 29, 2022 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, leading developer of drone solutions and systems, is pleased to announce that an interview with Draganfly President and CEO Cameron Chell airs on The RedChip Money Report® on Bloomberg TV, this Saturday, July 30, 2022 at 7 p.m. Eastern Time (ET).
Bloomberg TV is available in an estimated 73 million homes in the United States. Draganfly was last recommended on The RedChip Money Report® on June 18, 2022.
In an exclusive interview with RedChip Money Report, Cameron Chell will discuss Draganfly’s more than 20 years of experience as a provider of drone solutions, software and AI systems, the company’s record revenue and sales, the $20 billion growth opportunity in the commercial space and much more.
To view the interview in its entirety, please click here.
Produced by RedChip Companies Inc., The RedChip Money Report® is an international Investor Relations and media company with 30 years of experience focused on Discovering Tomorrow’s Blue Chips Today™. The RedChip Money Report® provides insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies.
The Company also announces that it has received a letter from the Listing Qualifications Division of the Nasdaq Stock Market (“Nasdaq”) stating that, based on the closing price of the Company’s common stock for the period of 30 consecutive business days between June 10, 2022, through July 25, 2022, the company has failed to meet the minimum offer price of US$1.00 per share required to continue listing on the Nasdaq Capital Market in accordance with Nasdaq Listing Rule 5550(a )(2). The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market.
The letter also indicated that the Company will be granted a compliance period of 180 calendar days, or until January 23, 2023 (the “Compliance Period”), during which the Company can once again comply with Nasdaq Listing Rule 5810(c)(3) (A). In order to meet Nasdaq’s minimum bid price requirement, the company’s common stock must maintain a minimum closing price of US$1.00 for at least ten consecutive business days during the compliance period.
In the event that the Company does not regain compliance at the end of the Compliance Period, the Company may be eligible for an additional 180 calendar days to regain compliance. To be eligible, the Company must meet the continuing listing requirement for the market value of its public shares and all other initial listing standards for The Nasdaq Capital Market, except the offer price requirement, and will provide written notice indicate its intention to remedy the deficiency during the second compliance period, if necessary by performing a reverse stock split. If the company meets these requirements, the company can be given an additional 180 calendar days to meet the requirements again. However, if Nasdaq believes that the Company will not be able to remedy the deficiency, or if the Company is otherwise ineligible for the additional recovery period, the Company may be delisted.
The letter does not directly affect the Company’s business or the listing of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Capital Market, provided the Company complies with the other listing requirements of The Nasdaq Capital Market , as well as on the CSE.
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the maker of high-performance, advanced drone solutions, software and AI systems that are revolutionizing the way organizations do business and serve their stakeholders. Recognized as a technology leader for over 20 years, Draganfly is an award-winning industry leader in the public safety, public health, mining, agriculture, industrial inspection, security, mapping and surveying markets. Draganfly is a company driven by passion, ingenuity and the need to provide efficient solutions and first-class services to its customers around the world with the aim of saving time, money and lives.
For more information about Draganfly, visit us at: www.draganfly.com.
For additional investor information, visit https://www.thecse.com/en/listings/technology/draganfly-inc, https://www.nasdaq.com/market-activity/stocks/dpro or https://www.boerse-frankfurt.de/equity/draganfly-inc-1.
E-mail: [email protected]
E-mail: [email protected]
This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined in applicable Canadian securities laws. Forward-looking statements and information generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue to ”, “plan” or similar terminology. Forward-looking statements and information are based on predictions of future results, estimates of amounts that cannot yet be determined and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements include, but are not limited to, statements regarding the interview with Cameron Chell broadcast on The RedChip Money Report® and the company’s compliance with Nasdaq’s minimum bid price requirement and related compliance periods. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s ability to control or predict, which could cause the Company’s actual results, performance or performance to differ materially from those expressed or implied thereby, and have been developed based on assumptions about such risks, uncertainties and other factors set forth herein, including but not limited to: the potential impact of epidemics, pandemics or other public health crises, including the COVID-19 pandemic, on the business, operations and financial condition of the company; the successful integration of technology; the inherent risks of the general securities markets; uncertainties regarding the availability and cost of financing needed in the future; the inherent uncertainty of cost estimates; the potential for unexpected costs and expenses, currency fluctuations; legal restrictions; and liability, competition, loss of key employees and other related risks and uncertainties listed under the heading “Risk Factors” in the Company’s most recent filings with securities regulators in Canada on the SEDAR website at www.sedar.com. The Company assumes no obligation to update any forward-looking information, except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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