Draganfly Investments Ltd Update and Notice of EGM (1006A)

TIDMDRG

RNS Number : 1006A

Draganfly Investments Ltd

21 March 2017

21 March 2017

Draganfly Investments Limited

("Draganfly" or the "Company")

Update and Notice of EGM

Given that the company's investments are now immaterial, and its assets are predominantly in cash, the Company is now regarded as an AIM Rule 15 cash shell and accordingly must announce a reverse takeover or seek readmission as an investing company within 12 months from the date of this announcement pursuant to paragraph 5.6 of the AIM Note for Investing Companies. If no such transaction is announced within that period, the Company's shares will be suspended pursuant to Rule 15.

In order to fund the professional fees that will be incurred in such a transaction, the Board wish to have the discretion to issue up to a further 100 million new ordinary shares. The Board have, accordingly, called an Extraordinary General Meeting on 12 April 2017 to give them the requisite authorities.

A notice of the Extraordinary General Meeting will be available on the Company's website shortly.

For further information please contact:

   T Edward G Bayman                                                     [phone] 
   Dennis Edmonds                                                            [phone] 

Jon Belliss

   Beaufort Securities Limited (Broker)                              [phone] 

Tom Price / David Hignell

   Northland Capital Partners (Nominated Adviser)           [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFISVAILFID

(END) Dow Jones Newswires

March 21, 2017 10:10 ET (14:10 GMT)