Vancouver, British Columbia--(Newsfile Corp. - March 26, 2018) - Global UAV Technologies Ltd. (CSE: UAV) (OTC: YRLLF) (FSE: YAB2) (the "Company" or "Global UAV"), a leader in the Unmanned Aerial Vehicle ("UAV") industry, is pleased to announce that its wholly owned subsidiary, Pioneer Aerial Surveys Ltd. ("Pioneer Aerial") has secured a contract with Geophysique TMC of Val d'Or, Quebec for more than 3,000 line kilometers of high resolution UAV-MAG™ surveying. The significant contract was sourced through the close working relationship that Pioneer Aerial and Aerial Imaging Resources ("AIR") have formed as Global UAV continues to work toward closing the acquisition of AIR announced on March 6, 2018. The contract will be completed in cooperation with AIR.
"The project with Geophysique TMC is more than double the size of the largest survey completed to date for SSR Mining, Inc. in October, 2017," stated President and Director James Rogers.
In addition, Pioneer Aerial has signed a contract for up to 2,000 line-kilometers of UAV-MAG™ surveys in South America with a major mining company.
"These surveys represent the largest contracts signed to date, both in Canada and South America, and a significant step forward for Pioneer Aerial as the leading UAV geophysics service provider globally. The Geophysique TMC contract is a direct result of the pending acquisition of AIR. It also emphasizes the value of Global UAV's proposed acquisition of AIR in terms of their extensive client network and ability to generate new business." stated Michael Burns, CEO and Director. "Our entry into the South American market has been very successful. To date, Pioneer Aerial has completed three large surveys in Chile and has secured work contracts with multiple mining and exploration companies throughout the continent. Our ability to work where conventional manned aviation and ground-based surveys are not possible due to challenging environments has created a massive market opportunity for us."
About Global UAV Technologies Ltd.:
Global UAV Technologies is a leader within the commercial Unmanned Aerial Vehicle ("UAV") sector. Through its wholly owned divisions - Pioneer Aerial Surveys, High Eye Aerial Imaging, UAV Regulatory Services, and NOVAerial Robotics — Global UAV Technologies provides a full spectrum of UAV-based services and products including manufacturing, service provider and regulatory divisions.
Global UAV Technologies will continue its growth through expanding the business of its current divisions and the continued evaluation of potential acquisitions with the goal of creating a consortium of businesses that, when fully integrated, will cover all aspects of the UAV industry.
On behalf of the Board of Directors,
"Michael Burns"
Michael Burns
CEO and Director
For additional information please contact:
Global UAV Technologies
Investor Information
Telephone: 1 888-905-7011
Email: ir@globaluavtech.com
www.globaluavtech.com
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in public markets, service industries, manufacturing and the UAV Sector. As a result, actual results may vary materially from those described in the forward-looking statements.
