AI assistant
ROCKETDNA LTD. — Capital/Financing Update 2022
Feb 23, 2022
65709_rns_2022-02-23_9b67ae68-6325-4ef3-90b7-5892f38c0997.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [97 x 74] intentionally omitted <==
ASX Announcement
COMPLETION OF SALE OF PARAZERO TECHNOLOGIES
24 February 2022 – Further to the Company’s announcement on 28 January 2022, Delta Drone International (ASX:DLT) ( DLT or the Company ) is pleased to announce it has today completed the sale of its ParaZero Technologies business, receiving immediate net settlement funds of A$4.55 million.
A further A$0.3 million in net debt and working capital liabilities have been assumed by the buyers, A$0.25 million has been placed in escrow to meet potential Israeli withholding tax obligations and an additional A$0.9 million of cash is being held in escrow and will be released to the Company in 12 months from today’s completion, subject to there being no future warranty claims.
Commenting on the sale, Delta Drone International Christopher Clark said, “The completion of the transaction marks an important milestone for Delta Drone, as it allows us to forge ahead, focusing on our tech-services offering as a leading global drones-as-a-service provider. I look forward to continuing to win new enterprise contracts across Africa and Australia, as more companies utilise our advanced drone-based software and geospatial data-related technologies to help optimise their operations. As previously noted, we intend to use the proceeds to reduce borrowings and to pursue opportunities to expand our current services”
This announcement has been authorised for release by Chris Clark, Chief Executive Office and Managing Director of Delta Drone International Limited.
-ENDS-
For more information, please contact:
| Corporate | Investors |
|---|---|
| Stephen Buckley | Christopher Clark |
| Company Secretary | CEO & Managing Director |
| +61 (0)8 6189 1155 | E: [email protected] |
Media
Tristan Everett, Director @ Market Eye P: +61-403 789 096 E: [email protected]
Delta Drone International Limited | ABN 17 618 678 701 T +61 8 6189 1155 | A: Level 27, 101 Collins Street, Melbourne VIC 3000
==> picture [97 x 74] intentionally omitted <==
About Delta Drone International
Delta Drone International is a multi-national drone-based data service and technology solutions provider for the mining, agricultural and engineering industries. It provides aerial surveying and mapping, security and surveillance, and blast monitoring and fragment analysis through a fully outsourced service with AI and fast data turnaround that allows enterprise customers to focus on operations on the ground while Delta Drone International takes care of everything in the air.
For more information, please visit https://www.dlti.com
P a g e 2 | 2