DRG Draganfly

TIDMDRG

RNS Number : 3193H

Draganfly Investments Ltd

12 March 2018

Draganfly Investments Limited

("Draganfly" or the "Company")

Fundraising

12 March 2018

The Company announces that it has successfully raised GBP137,160 before expenses, by way of a placing ("Placing") of 50,800,000 new ordinary shares of no par value in the Company at a price of 0.27 pence per share.

Application for admission to trading on AIM is being made and it is expected that admission of the Placing shares will occur on 15 March 2018.

As stated in the interim results announcement dated 13 December 2017 the Board has been actively assessing a number of possible mineral investment opportunities and remains confident that the Company will complete a transaction that satisfies the AIM requirements set out in the Company's announcement dated 21 March 2017. It is, however, now unlikely that the Company will have done so by the deadline of 21 March 2018, in which case the shares would be suspended until the publication of an admission document setting out the details of such a transaction.

The net proceeds of the Placing will be applied for general purposes and towards the costs of any such transaction.

The Company currently has 169,356,437 Ordinary Shares in issue. Following Admission, the Company's issued share capital will consist of 220,156,437 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury therefore this number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the Council.

For further information please contact:

   Luke Bryan                                                      +44 (0) 7786 929 966 
   Dennis Edmonds                                               +44 (0) 7796 338 372 

Nick Josh

   Cornhill Capital Limited (Broker)                      +44 (0) 20 3700 2500 

Tom Price/Jamie Spotswood

Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOEUKVVRWSAORAR

(END) Dow Jones Newswires

March 12, 2018 03:00 ET (07:00 GMT)

Draganfly (LSE:DRG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Draganfly (LSE:DRG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024