Draganfly Inc., a drone maker and systems developer, announced that it has completed its previously announced public subscribed offering in the United States of 5,000,000 common shares at a price of US $ 4.00 per common share, for total gross proceeds of approximately US $ 20 million. , before deduction of subscription discounts and Offer costs. In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to 750,000 additional common shares of the Company on the same terms and conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as the sole accounting manager of the Offer.

Draganfly common stock is now dual listed on the Nasdaq Capital Market and the Canadian Securities Exchange under the symbol “DPRO”.

The Company intends to use the net proceeds of the Offering, together with existing liquidity, for general corporate purposes, including to fund ongoing activities, to fund growth initiatives and / or for working capital requirements, including the continued development and marketing of the Company’s core products. , potential acquisitions, and research and development, as outlined in the Supplement.

The Company has filed a prospectus supplement to the short form base shelf prospectus of the Company dated July 14, 2021 in each of the provinces of British Columbia, Ontario and Saskatchewan in connection with the offering. The supplement and accompanying base prospectus have also been filed with the United States Securities and Exchange Commission as part of a registration statement on Form F-10, which came into effect with the SEC on July 29, 2021, in accordance with the multi-jurisdictional disclosure system established between Canada and the United States.

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