Posted: October 14, 2021 at 11:55 a.m. EDT|Update: 53 minutes ago
LOS ANGELES, October 14, 2021 / PRNewswire / –
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) ( “ dragonfly” or the “Society“), an award-winning and industry-leading drone solutions and systems developer, is pleased to announce that it has signed a minimum $ 9 million manufacturing agreement with Digital Dream Labs, Inc. (“LDD“) to design and develop a companion AI robot drone for the general public (the “Drone”).
DDL is an edtechtainment company specializing in the development of practical video games and personal robots. Their popular desktop robots, Cozmo and Vector, are two of the best-selling consumer robots of all time.
AIn accordance with the terms of the announced agreement, Draganfly will be the exclusive manufacturer and assembler of the drone.. DDL will order at least 50,000 units per year with delivery from 2022. The Drone will be integrated into DDL‘s the existing family of products, including the support, sales and distribution channels used for their other consumer robots. Draganfly has also been granted a right of first refusal to become the exclusive manufacturer and assembler of future drone-based or drone-based robots that will be added to Digital Dream Labs.‘ product portfolio.
According to Global Consumer Drone Market Report 2021, the global consumer drone market is expected to exceed $ 2.3 billion in 2021 at a compound annual growth rate (CAGR) of 12%. By 2025, the market is expected to reach nearly $ 3.3 billion at a CAGR of 9%.
“ We are very excited to be working with Draganfly on the latest addition to the Cozmo family. ” said dr. Jacob hanchar, co-founder and CEO of Digital Dream Labs. “This AI robot drone fits perfectly into our portfolio and completes our mission un we continue to change the discourse around technology and illustrate how it can be used to improve lives. “
“ The Draganfly team are incredibly excited to work with Digital Dream Labs and help them take hands-on educational technology to new heights with this new robot. Our team of robotics, AI and aviation experts look forward to helping DDL consolidate its leadership position in the market by developing the ultimate companion drone, ” noted Cameron Chell, CEO of Draganfly.
The parties have entered into a binding letter agreement reflecting the above terms and will use commercially reasonable efforts to reach a definitive agreement. The Binding Letter of Agreement will govern the relationship between DDL and Draganfly and there can be no assurance that a definitive agreement will be made or reached between the parties.
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO ; FSE: 3U8) is the creator of quality and cutting-edge drone solutions, software and AI systems that revolutionize the way organizations can do business and serve their stakeholders. Recognized as being at the cutting edge of technology for more than 20 For years, Draganfly has been an award-winning industry leader serving the public safety, agriculture, industrial inspection, security, mapping and surveying markets. Draganfly is a company driven by passion, ingenuity and the need to provide effective solutions and first class service to customers around the world in order to save time, money and lives.
For more information on Draganfly, please visit us at www.draganfly.com .
For more investor information visit https://www.thecse.com/en/listings/technology/draganfly-inc , https://www.nasdaq.com/market-activity/stocks/dpro Where https://www.boerse-frankfurt.de/aktie/draganfly-inc .
E-mail: [email protected]
E-mail: [email protected]
Digital Dream Labs is an edtechtainment company that develops engaging learning solutions for people of all ages. With their innovative suite of interactive and hands-on video games and consumer robots, Digital Dream Labs is transforming the way science, technology, engineering, arts and mathematics (STEM / STEAM) subjects are taught in homes and classrooms. of the whole world.
For more information visit digitaldreamlabs.com .
This press release contains some “ forward-looking statements ” and certain “ forward-looking information ” like defined under applicable Canadian securities laws. Forward-looking statements and information may generally be identified by the use of forward-looking terminology such as “may”, “ will”, “ wait”, “Intend”, “ estimate”, “ to anticipate”, “ to believe”, “Continue”, “ plans” or similar terminology. Looking to the future statements and the information is based on forecasts of future results, estimates of amounts not yet determinable and assumptions which, while deemed reasonable by management, are inherently subject to significant commercial, economic and competitive uncertainties and contingencies. Cheeky- research statements include, but are not limited to, statements with the negotiation and settlement of a final agreement. Forward-looking statements and are subject to a variety of known and unknown risks and uncertainties, many of which are beyond the Company’s ability to control or forecast, which may cause the Company to ‘ actual results, the performance or achievements are materially different from those expressed or implied therein, and are developed on the basis of assumptions regarding those risks, uncertainties and other factors set forth herein in, including, but not limited to: the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on Society ‘s Business, operations and financial condition, successful integration of technology, risks involved in general securities markets; uncertainties about the availability and costs of funding needed in the future; the inherent uncertainty in cost estimates and the potential for unforeseen costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties presented under the heading “ Risk Factors ” in the society ‘ it’s the most recent filings with securities regulators in Canada on SEDAR website at www.sedar.com. The The Company does not undertake to update the forecasts information, unless required by applicable law. This forward-looking information represents Management ‘ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results can vary significantly. Therefore, readers are advised not to place undue reliance on prospects statements or information.
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