DRG NOTES22 Sep 2017 09:43
DRG – DRAGANFLY INVESTMENTS WHAT WE KNOW AND WHAT LINKS WE HAVE – links with KOD could suggest Kalahari resources which would mean gold or another lithium/cooper or cobalt asset which could be linked to Botswana metals. Gold north river resources which Luke was a director of.
http://www.draganflyinvestments.com/officers.aspx
• CLEAN SHELL – 169m shares in issue, free float very low, base made at .70 no debt, CLN's are any other baggage, there's very little potential bad news for downside here. It's a shell after all.
• 110K IN THE BANK PRE PLACING, PLACING 500K = £610K
• RUNNING COST 115K PER YEAR (VERY LOW)
• LUKE BRYAN AND DENNIS EDMONDS NOT TAKING SALARY NOW OPTIONS GIVEN INSTEAD of director fees owed to Dennis
• DENNIS CONFIRMED TO ME HE WAS HAPPY TO WAIVE SALARY FOR OPTIONS DENNIS NO. -07796338372
• Now 4 MMs 2 joining in the last few weeks they must be expecting something to drive liquidity here.
• Dennis Vernon Edmonds (Finance Director)
Dennis practiced as a corporate solicitor in the Republic of South Africa and in England and has extensive experience of corporate acquisitions and restructurings. He was later employed at board level in the investment banking and venture capital industries. His experience includes structuring deals and running companies. In April 2004 he became CEO of Setstone Plc, an AIM listed company which was completing a reverse takeover of a gold mining company in the Kyrgyz Republic. He resigned from this post once the documentation was prepared for submission to the Takeover Panel. Dennis will assume the responsibilities of finance director.
• Luke Bryan (Executive Chairman)
Luke is a mining engineer with over 25 years of international experience. Most recently he was chief executive officer, now technical director, of Kodal Minerals an AIM quoted mineral exploration company and prior to that he worked both as a public company director and as an independent consultant. Luke has worked throughout Africa, Australia, the Former Soviet Union and Europe. He holds degrees in Mining Engineering and Economics from Auckland University.
• I WOULD IMAGINE Edward Bayman will be stepping down as they take control of the board here, he has already moved down for Luke to take the chairman roll here.
• Edward Bayman, Chairman of Draganfly, commented: “We are pleased to welcome Luke to the Board as a number of the opportunities we are considering are in the resource sector and Luke's background will be invaluable in assisting the Board to evaluate these."
• Luke Bryan setting up Kalahari Metals on May 3 2017 renamed from Botswana metals. https://www.check-business.co.uk/business/10751423/kalahari-metals-limited REGISTRATION DETAILS
• DRG fundraising 8 May 2017
• Luke Bryan coming on to BOD on 30 May 2017 (KOD LINK)
• Pelamis taking 29.4% of the shares in the company (KOD LINK), then Luke joine