Draganfly Shares Rise 12% on Contract Worth at Least $9 Million

By Chris Wack

 

Draganfly Inc. shares were up 12% to $3.53 after the company said it signed a minimum $9 million manufacturing agreement with Digital Dream Labs Inc. to design and develop an AI consumer companion robot drone.

DDL is an edtechtainment company that specializes in the development of hands-on video games and personal robots.

Draganfly will be the exclusive manufacturer and assembler of the drone. DDL will order at least 50,000 units annually with delivery starting in 2022. The drone will be integrated into DDL's existing product family, including support, sales and distribution channels used for their other consumer robots.

Draganfly has also been granted a right of first refusal to become the exclusive manufacturer and assembler of subsequent drone or UAV-based robots to be added to Digital Dream Labs' product portfolio.

 

Write to Chris Wack at [email protected]