Former Assistant Secretary of Homeland Security and Presidential Appointee Julie Myers Wood
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Former Assistant Secretary of Homeland Security and
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Global UAV Technologies Ltd.: Global UAV and Draganfly Terminate Agreement
Global UAV Technologies Ltd. (CSE: UAV) (OTC Pink: YRLLF) (FSE: YAB2) (the Company or Global UAV ), is announcing pursuant to a news release dated November 7
th, 2020, Dronelogics Systems Inc. (
Dronelogics ), a subsidiary of Draganfly Inc., ( Draganfly ), has chosen to terminate the option agreement (the Agreement ) with Global UAV for the acquisition of 100% of the assets of the wholly-owned subsidiaries of Global UAV: Pioneer Arial Surveys Ltd. (
Pioneer ) and High Eye Aerial Imaging Inc. (
High Eye , together with Pioneer the
Global UAV Subsidiaries ).
As a result of certain assets not being in a position to be transferred pursuant to the terms of the Agreement, Draganfly has decided to terminate the Agreement. The board of directors of the Company is disappointed in the termination of the Agreement, which is the result in whole or in part from the lack of cooperation of certain former e