WINDFALL GEOTEK SELECTS DRAGANFLY TO DEVELOP DRONE BASED SOLUTION FOR LANDMINE DETECTION
10 März 2020 - 2:15PM
Draganfly Inc. (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8)
(“
Draganfly” or the “
Company”),
an award-winning, industry-leading manufacturer within the
commercial Unmanned Aerial Vehicle (“
UAV”),
Remotely Piloted Aircraft Systems (“
RPAS”), and
unmanned vehicle sector, today announced they have been selected by
Windfall Geotek (TSX-V: WIN) and have entered into a letter of
intent with Windfall Geotek (the “
LOI”), to help
develop an Artificial Intelligence (“
AI”) driven
unmanned aerial systems (“
UAS”) solution for
landmine detection in the defense, humanitarian, and other sectors
which the companies have expertise in.
Windfall Geotek has been a data services company
and a leader in the use of AI and advanced knowledge-extraction
techniques since 2005. The terms of the LOI include Windfall Geotek
contracting Draganfly to conduct research, development and
engineering support of hardware that can interface with Windfall’s
AI software.
The purpose of the LOI is to further
commercialize Windfall Geotek’s AI driven solution for the
detection and elimination of Land Mines, Unexploded Ordinance, and
Improvised Explosive devices via the use of UAS. Governments and
Non-profits allocated nearly US$700 million in combined
international and national support for mine action in 2018 and the
economic impact of landmines is estimated at $100 billion1. The
closing of the transaction is subject to the parties achieving
certain milestones prior to closing.
“We are extremely excited to be working with
Draganfly to help enhance our core product offering. AI and machine
learning together can transform how mining exploration is done.
When you add to it Draganfly’s engineering expertise, their
industry-leading products and technology we feel the possibilities
in mining, oil and gas and military applications are endless,” said
Dinesh Kandanchatha, Chairman of Windfall Geotek.
“Windfall Geotek has been in business for over
15 years and their leadership has a proven track record. We are
excited to be working with their team on a commercialization
strategy that uses Draganfly drones, technology and expertise.”
said Cameron Chell, CEO of Draganfly.
About Windfall Geotek
Windfall Geotek (TSX-V: WIN) is the leader in
the use of Artificial Intelligence (AI) and advanced
knowledge-extraction techniques since 2005 in the mining sector.
Windfall Geotek can count on a multidisciplinary team that includes
professionals in geophysics, geology, Artificial Intelligence (AI),
and mathematics. The Company's objective is to develop a new
royalty stream by significantly enhancing and participating in the
exploration success rate of mining.
About Draganfly
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE:
3U8) is the creator of quality, cutting-edge, UVS and software that
revolutionizes the way people do business. Recognized as being at
the forefront of technology for over 21 years, Draganfly is an
award-winning, industry-leading manufacturer within the commercial
UAV and UVS space, serving the public safety, agriculture,
industrial inspections and 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.otcmarkets.com/stock/DFLYF/overview
or https://www.boerse-frankfurt.de/aktie/draganfly-inc.
1 Landmine Monitor 2019-
http://www.the-monitor.org/en-gb/reports/2019/landmine-monitor-2019.aspx
Media Contact Arian Hopkins email:
arian@businessinstincts.com
Company Contact Phone: 1-306-955-9907 Email:
info@draganfly.com
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”
or similar terminology. Forward-looking statements and information
are based on forecasts of future results, estimates of amounts not
yet determinable and assumptions that, while believed by management
to be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of the Company to control or predict, that may cause
the Company’s actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out here in, including but not limited to:
the inherent risks involved in the general securities markets;
uncertainties relating to the availability and costs of financing
needed in the future; the inherent uncertainty of cost estimates
and the potential for unexpected costs and expenses, currency
fluctuations; regulatory restrictions, liability, competition, loss
of key employees and other related risks and uncertainties. The
Company undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents managements’ best judgment
based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
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