Draganfly (DPRO.CN, DPRO) was awarded a five-year contract by the Government of Canada to provide Low-Cost Tactical Intelligence, Surveillance and Reconnaissance (ISR) Uncrewed Aircraft Systems (UAS) to the Canadian Armed Forces, the company said in a statement on Friday.
The initial contract includes a firm commitment for 100 Low-Cost Tactical ISR UAS systems, with associated ground control stations, payloads, data links, support equipment, documentation, spare parts and training. The company said contracted pricing for the systems is commercially sensitive.
Canada retained the right, at its sole discretion, to order up to an additional 4,900 UAS systems. The option for the additional 4,900 UAS systems has an aggregate value of about CA$24.25 million if exercised in full, it added.
Shares of the company were last seen up 1.3% at CA$7.89 on the Canadian Securities Exchange.
Price: $7.81, Change: $+0.02, Percent Change: +0.26%