Draganfly Inc. (CSE: DFLY) (FSE: 3U8) (“
Draganfly”
or the “
Company”), an award-winning,
industry-leading systems developer within the commercial Unmanned
Aerial Vehicle (“
UAV”) and the Unmanned Vehicle
Systems (“
UVS”) space, is pleased to announce that
John M. Mitnick, former General Counsel and Regulatory Policy
Officer of the U.S. Department of Homeland Security
(“
DHS”) and Raytheon senior executive, has been
engaged as a consultant to the Company to advise on government and
commercial business opportunities, effective immediately.
In his capacity as General Counsel of DHS, Mr.
Mitnick served as the chief legal officer of a federal security and
law enforcement agency with over 240,000 employees, was responsible
for providing legal advice and counsel to DHS and all of its
components, and supervised over 2,500 attorneys. His recent
position at DHS was a continuation of his homeland security public
service. Beginning in November 2002, he assisted in establishing
DHS and then served as Associate General Counsel for Science and
Technology until August 2004, when he moved to the White House. He
served in the White House Counsel’s Office as Deputy Counsel of the
Homeland Security Council from August 2004 until April 2005, and
then as Associate Counsel to the President, with responsibility for
the entire homeland security portfolio, until October 2007.
Mr. Mitnick has also had a distinguished career
in the private sector. He served from 2007 to 2013 as Vice
President, General Counsel, and Secretary of a $3 billion division
of Raytheon Company with over 9,000 employees and business
operations in over 40 countries and on all continents, which
provided training, logistics, engineering solutions, manufacturing,
and product and operational support services to defense,
government, and commercial customers. He began his legal career at
the law firm now known as Kilpatrick Townsend & Stockton LLP,
where he was a partner specializing in mergers and acquisitions,
strategic alliances, commercial contracts, and business
start-ups.
Mr. Mitnick received his Juris Doctor degree
from the University of Virginia School of Law and a Bachelor of
Arts degree in Jurisprudence from the University of Oxford. He also
holds a Bachelor of Arts degree in History and Political Science
(summa cum laude) from Emory University.
“We are honoured to have John Mitnick actively
engaged as a consultant to our management team. He recognizes the
tremendous and unique opportunity Draganfly has and is a testament
to the quality of talent that Draganfly is able to attract to
execute on this opportunity,” said Cameron Chell, CEO of
Draganfly.
Patrick Imbasciani, COO of Draganfly, said:
"John’s service at the U.S. Department of Homeland Security, and
his experience as a senior executive of a major U.S. defense
contractor, align well with many of the areas of our business that
we are actively working to scale. His insights will complement and
strengthen our go-to-market strategies.” Draganfly announced the
appointment of former White House Chief of Staff Andrew H. Card Jr.
as a member of the Board of Directors of the Company on November 7,
2019.
Corporate Update
The Company also announced today the grant of
incentive stock options (“Options”) and restricted
share units (“RSUs”) to certain consultants of the
Company. Options to purchase up to 650,000 common shares of the
Company were granted, pursuant to the Company’s share compensation
plan, exercisable at a price of $0.50 per common share. The Options
shall have a term of 10 years and vest over tranches and based on
certain criteria over two years from the date of grant. Also,
250,000 RSUs were awarded to a consultant pursuant to the Company's
share compensation plan. The RSUs shall vest in tranches and based
on certain criteria over three years from the date of grant.
About Draganfly
Draganfly Inc. (CSE: DFLY; FSE: 3U8) is the
creator of quality, cutting-edge, Unmanned Aerial Vehicles (“UAV”),
Unmanned Vehicle Systems (“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 www.thecse.com searching DFLY or visit
https://www.boerse-frankfurt.de/ searching 3U8.
Media Contact Arian Hopkins email:
arian@businessinstincts.com
Company Contact Paul Sun, CFO
Email: paul.sun@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.
The CSE has not in any way passed upon the
merits of the listing of the common shares of Draganfly and has
neither approved nor disapproved the contents of this news release.
Listing of the common shares of Draganfly is subject to
satisfaction of the listing requirements of the CSE, including
customary deliverables in satisfaction of the conditional
approval.
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