Drone Delivery Canada Announces Closing of Bought Deal Financing for Aggregate Gross Proceeds of $15 Million

Drone Delivery Canada (CSE:FLT”) has announced it has closed its previously announced bought-deal prospectus offering pursuant to which the company issued 23 million common shares at $0.65 per share for aggregate proceeds of $15 million.
As quoted in the press release:

The Common Shares were offered by way of a short form prospectus filed in all provinces of Canada. The Company intends to use the net proceeds from the Offering to explore the expansion of its testing and commercialization program into the United States and other international jurisdictions selected by the Company, concurrent with the Company’s continuing activities to advance its testing and commercialization program in Canada.
The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Click here to read the full press release.