Limbo1 Oct 2018 10:03
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the Council.
24 September 2018
Draganfly Investments Limited
("Draganfly" or the "Company")
Cancellation of trading
The Company announces that further to the announcement of 1 June 2018, the due diligence and legal documentation relating to the reverse takeover of a private entity owning copper exploration and development assets in Zambia, are near completion, the delay being primarily due to procedural regulatory issues in one of the subsidiary companies being acquired.
Given that as of 22 September 2018 trading in the Company's shares had been suspended for a period of six months, trading in the Company's shares on AIM was cancelled at 7.00am today in accordance with Rule 41 of the AIM Rules for Companies.
It is however expected that the final regulatory points will be resolved shortly, at which point the Company will announce an exchange of contracts and a proposed placing of new shares in the enlarged group. The Company will then apply for its shares to be readmitted to AIM, subject to, inter alia, shareholder approval.
Further updates will be provided to shareholders as appropriate.