Global UAV Technologies Ltd. (CSE: UAV, OTC: YRLLF, FSE: YAB2) (the “Company” or “Global UAV”), is pleased to announce a non-brokered private placement of units (the "Units") of the Company for gross proceeds of up to C$1,000,000 (the "Offering"). Red Cloud Klondike Strike Inc. is acting as a finder in connection with the Offering.
Each Unit is offered at a price of C$0.10 and will be comprised of one common share of the Company and one common share purchase warrant (a "Warrant"), each Warrant entitling the holder thereof to acquire one common share of the Company at a price of C$0.15 for a period of 24 months from the date of closing of the Offering. The net proceeds raised through the issue of Units will be used for capital purchases, optimization & scaling of design/production, R&D, and for general working capital.
The closing of the Offering is expected to occur on or about June 21, 2018 and is subject to receipt of all necessary regulatory approvals. The Units, including all underlying securities thereof, and any finder's warrants issued with respect to the Offering will be subject to a four month hold period in accordance with applicable securities laws.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Global UAV Technologies
Global UAV Technologies’ goal is to be the leading solution provider in the Unmanned Aerial Vehicle (UAV) sector for complex operations and advanced remote sensing requirements by utilizing its diverse group of companies.
Neither the Canadian Securities Exchange nor its Regulations Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Directors,
CEO & Director
For additional information please contact:
Global UAV Technologies Ltd.
Telephone: 1 888-905-7011
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in public markets, service industries, manufacturing and the UAV Sector. As a result, actual results may vary materially from those described in the forward-looking statements.