Draganfly Investments Ltd Loan agreement (9429L)
07 October 2016 - 5:00PM
UK Regulatory
TIDMDRG
RNS Number : 9429L
Draganfly Investments Ltd
07 October 2016
7 October 2016
Draganfly Investments Limited
("Draganfly" or the "Company")
Loan agreement
The Board of Draganfly, the AIM quoted investing company,
announces that it has made its first investment following the two
fundraising exercises completed in Summer 2016.
The Company had made a convertible term loan of GBP60,000 to
AltEnergis Plc ("AltEnergis"), a privately owned company registered
in England and Wales, specialising in the development and
commercialisation of novel intellectual property. ALtEnergis
currently has five core technologies under development.
The loan is for a term of one year and bears interest at the
rate of 8% per annum. The loan is convertible into equity of
AltEnergis at the request of the Company.
The purpose of the investment is to enable AltEnergis to secure
a grant and to reinforce certain technology IP and patent
rights.
In the year ended 31 December 2015, AltEnergis made an
(unaudited) loss of GBP52,999.
Edward Bayman, Chairman of the Company, said: "The Board are
constantly exploring investment possibilities. This investment
gives Draganfly an interest in an exciting company with some very
promising technologies."
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:
T Edward G Bayman +44 (0) 1534 787898
Dennis Edmonds +44 (0) 7796 338 372
Tom Price / David Hignell
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
Jon Belliss
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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