Draganfly Inc. (DPRO) Prices 5M Share IPO at $4/sh

July 30, 2021 5:29 AM EDT

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Draganfly Inc. (Nasdaq: DPRO) a drone manufacturer and systems developer, today announced the pricing of its underwritten public offering of 5,000,000 common shares of the Company at a public offering price of US$4.00 per share, for gross proceeds of US$20,000,000, before deducting underwriting discounts and offering expenses. Closing of the offering is expected to occur on August 3, 2021, subject to the satisfaction of customary closing conditions. In addition, the underwriters have been granted a 45-day over-allotment option following the closing date to purchase up to an additional 750,000 common shares from the Company.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

The Company filed a prospectus supplement (the “Supplement”) to the Company’s short form base shelf prospectus dated July 14, 2021 (the “Base Prospectus”) in each of the provinces of British Columbia, Ontario and Saskatchewan in connection with the offering. The Supplement and accompanying Base Prospectus were also filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of a registration statement on Form F-10, as it may be amended from time to time (the “Registration Statement”), in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.

The Company intends to use the net proceeds of the offering, together with existing cash, for general corporate purposes, including to fund ongoing operations, to fund 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, as set out in the Supplement.

The common shares (CUSIP #26142Q205) are expected to begin trading on July 30, 2021 on the Nasdaq Capital Market (“Nasdaq”) under the ticker “DPRO”. The common shares are listed on the Canadian Securities Exchange under the symbol “DPRO”.

The ‎Supplement and the accompanying Base Prospectus contain important detailed information about the offering. The Supplement and the ‎accompanying Base Prospectus can be found on SEDAR at www.sedar.com and the Registration Statement containing the Supplement and the Base Prospectus may be found on EDGAR at www.sec.gov. Copies of the Supplement and ‎accompanying Base Prospectus may also be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 or by email at prospectus@think-equity.com. Prospective investors should read the Supplement and ‎accompanying Base Prospectus and the documents incorporated by reference before making an investment decision.‎



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