Draganfly to Speak at Law-Tech Connect™ Panel During AUVSI XPONENTIAL 2024
San Diego, CA., April 11, 2024 (GLOBE NEWSWIRE) -- Draganfly Inc. (NASDAQ: NASDAQ:DPRO) (CSE: DPRO) (FSE: 3U8A) (Draganfly or the Company), an award-winning, industry-leading drone solutions and systems developer is pleased to announce its participation at XPONENTIAL 2024 at booth #3818 in San Diego, CA from April 22nd to April 25th.
At booth #3818, attendees can experience Draganfly's latest innovations, including new safety features and advanced communications capabilities for the Commander 3XL and Heavy Lift Platforms. The Draganfly Commander 3XL will be on display, showcasing its distinctive capabilities across various applications. Draganfly's latest Precision Delivery Platform is highlighted, offering cutting-edge delivery solutions for aerial logistics.
The Starling X.2, a product developed in partnership with Promo Drone, will also be presented, offering a glimpse into the future of unmanned aerial communication systems. Come visit the booth for details on when our demos will take place.
Draganfly's CEO, Cameron Chell, and Draganfly's COO, Paul Mullen (NASDAQ:MULN), will be in attendance.
Cameron Chell will participate in the panel discussion Getting Intelligent on Artificial Intelligence on April 22nd from 3 pm “ 4 pm in Room 4 at the San Diego Convention Center.
Draganfly is thrilled to be at the forefront of the evolving landscape of drone technology and artificial intelligence, as showcased at the Xponential conference, said Cameron Chell, CEO of Draganfly. We're proud to demonstrate the capabilities of our North American-made drone technologies at the San Diego Convention Center, signaling a showcase of our current achievements and a preview of exciting product developments yet to be announced. This moment reflects our team's relentless pursuit of innovation and excellence. We look forward to connecting with attendees and fellow pioneers to discuss the future of AI and drone technology and to share a sneak peek of the new directions Draganfly is heading towards.
P3 Tech is a veteran and woman-owned business founded and run by Dawn Zoldi (Colonel, USAF Retired), a licensed attorney and globally renowned emerging tech industry expert. Ms. Zoldi's experience includes 28 years of service to the U.S. Air Force as a Judge Advocate (military lawyer), Associate General Counsel, and U.S. Air Force Academy leader.
To register for the Law-Tech Connect™ Workshop, please click here.
On April 5, 2024, the Company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(b)(1) (the Stockholders' Equity Rule) by failing to maintain a minimum stockholders' equity of at least $2,500,000 required for continued listing on the Nasdaq Capital Market. In the Company's Form 20-F filed on March 27th, the Company reported stockholders' equity of C$407,716 (the equivalent of $308,897). Additionally, as of April 5th, the Company did not meet the alternative continued listing standards under the Nasdaq Listing Rules.
On March 28, 2024, the Company requested a hearing before an independent Nasdaq Hearings Panel (the Panel) regarding its previously disclosed bid price deficiency. The hearing before the Panel will be held on May 21, 2024. The hearing request automatically stayed any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing. Pursuant to the Nasdaq Listing Rules, the Stockholders' Equity Rule deficiency serves as an additional and separate basis for delisting. The Panel will consider both deficiencies in rendering a determination regarding the Company's continued listing on Nasdaq. In that regard, pursuant to the Nasdaq Listing Rules, the Panel has the discretion to grant an additional extension period with regard to the Stockholders' Equity Rule deficiency that can expire as late as October 2, 2024. At the hearing, the Company will be asked to provide a plan to regain compliance with both deficiencies to the Panel. The Company intends to present a plan to regain compliance with both deficiencies and request the continued listing of its common shares on Nasdaq pending such compliance. However, there can be no assurance that the Panel will grant the Company's request or that the Company will ultimately regain compliance with all applicable requirements for continued listing on Nasdaq.
About Draganfly
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize how organizations Œdo business and service their stakeholders. Recognized as being at the forefront of technology for over 24 years, Draganfly is an award-winning industry leader serving the public safety, agriculture, industrial inspections, 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 goal of saving time, money, and lives.
For more information on Draganfly, please 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.
Media Contact
Arian Hopkins
email: media@draganfly.com
Company Contact
Email: info@draganfly.com
Forward-Looking Statements
This release contains certain forward looking statements and certain forward-looking ŽŽŽŽinformation as ŽŽŽŽdefined under applicable securities laws. Forward-looking statements ŽŽŽŽand information can ŽŽŽŽgenerally be identified by the use of forward-looking terminology such as ŽŽŽŽŽmay, will, expect, intend, ŽŽŽŽŽestimate, anticipate, believe, continue, plans or similar ŽŽŽŽterminology. Forward-looking statements ŽŽŽŽand information are based on forecasts of future ŽŽŽŽresults, estimates of amounts not yet determinable and ŽŽŽŽassumptions that, while believed by ŽŽŽŽmanagement to be reasonable, are inherently subject to significant ŽŽŽŽbusiness, economic and ŽŽŽŽcompetitive uncertainties and contingencies. Forward-looking statements ŽŽŽŽinclude, but are not ŽŽŽŽlimited to, statements with respect to Draganfly's participation in XPONENTIAL 2024, as well as statements regarding the cutting-edge delivery solutions for aerial logistics, and the preview of exciting product developments yet to be announced. Forward-ŽŽŽŽlooking statements and information are subject to various Žknown ŽŽand unknown risks and ŽŽŽŽŽuncertainties, many of which are beyond the ability of the Company to Žcontrol or ŽŽpredict, that ŽŽŽŽmay cause Žthe Company's actual results, performance or achievements to be Žmaterially ŽŽdifferent ŽŽŽŽfrom those Žexpressed or implied thereby, and are developed based on assumptions Žabout ŽŽsuch ŽŽŽŽrisks, uncertainties Žand other factors set out here in, including but not limited to: the potential ŽŽŽŽŽŽŽimpact of epidemics, Žpandemics or other public health crises, including the ŽCOVID-19 pandemic, on the Company's business, operations and financial ŽŽŽŽcondition; the ŽŽŽsuccessful integration of Žtechnology; the inherent risks involved in the general ŽŽŽŽsecurities markets; ŽŽŽuncertainties relating to the Žavailability and costs of financing needed in the ŽŽŽŽfuture; the inherent ŽŽŽuncertainty of cost estimates; the Žpotential for unexpected costs and ŽŽŽŽexpenses, currency ŽŽŽfluctuations; regulatory restrictions; and liability, Žcompetition, loss of key ŽŽŽŽemployees and other related risks ŽŽŽand uncertainties disclosed under the Žheading Risk Factors ŽŽŽŽin the Company's most recent filings filed ŽŽŽwith securities regulators in Canada on Žthe SEDAR ŽŽŽŽwebsite at www.sedar.com and with the United States Securities and Exchange Commission (the SEC) on EDGAR through the SEC's website at www.sec.gov. The Company undertakes ŽŽŽno obligation to update forward-Žlooking ŽŽŽŽinformation except as required by applicable law. Such forward-ŽŽŽlooking information represents ŽŽŽŽŽmanagements' best judgment based on information currently available. ŽŽŽNo forward-looking ŽŽŽŽstatement Žcan be guaranteed, and actual future results may vary materially. ŽŽŽAccordingly, readers ŽŽŽŽare advised not to Žplace undue reliance on forward-looking statements or ŽŽŽinformation.Ž