Draganfly Inc. Announces Effective Date of Consolidation
Vancouver, BC., Aug. 30, 2024 (GLOBE NEWSWIRE)
Introduction
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8), a renowned drone solutions and systems developer, has officially set September 5, 2024, as the effective date of its Consolidation. This follows the recent news release on August 23, 2024, where the Company’s board of directors approved the consolidation of its Common Shares.
Details of the Consolidation
The Consolidation will see the Company’s Common Shares combined on a basis of one post-consolidated Common Share for every 25 pre-consolidated Common Shares. This move is expected to streamline the Company’s share structure and enhance trading liquidity.
Implications of the Consolidation
Upon completion of the Consolidation, the CUSIP and ISIN of the Common Shares will be changed to 26142Q304 and CA26142Q3044 respectively. The Company anticipates that the post-consolidated Common Shares will begin trading at market open on September 5, 2024, pending final approval from the Canadian Securities Exchange and the Nasdaq.
How will this affect me?
If you are a shareholder of Draganfly Inc., the Consolidation will impact you directly. Your existing holdings of Common Shares will be consolidated, resulting in a smaller number of shares with a proportionate increase in the share price. This may have implications for your investment portfolio and overall financial strategy.
How will this affect the world?
The Consolidation of Draganfly Inc.’s Common Shares reflects the Company’s commitment to enhancing shareholder value and optimizing its capital structure. By streamlining its share count, Draganfly aims to attract more investors and strengthen its position in the drone solutions market. This move could potentially lead to increased investor confidence and support the Company’s growth and innovation initiatives.
Conclusion
In conclusion, Draganfly Inc.’s Consolidation marks a significant milestone for the Company as it strives to create long-term value for its shareholders and stakeholders. By consolidating its Common Shares, Draganfly is taking proactive steps to streamline its operations and enhance market efficiency. The effective date of September 5, 2024, signals a new chapter in the Company’s growth trajectory, with potential benefits for investors and the broader industry landscape.
