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Global UAV Technologies Ltd C.UAV

Alternate Symbol(s):  YRLLF

Global UAV Technologies Ltd. is a diversified, vertically integrated drone technology company within the commercial Unmanned Aerial Vehicle (UAV) sector. The Company, through its wholly owned subsidiaries, provides a full range of UAV-based services and products, including production, research and design of professional grade UAV’s, geophysics and remote sensing survey services, and regulatory consulting and management. The Company's subsidiaries include Pioneer Aerial Surveys Ltd., High Eye Aerial Imaging In., UAV Regulatory Services Ltd, and NOVAerial Robotics Ltd.


CSE:UAV - Post by User

Bullboard Posts
Post by TSXPLAYER1on Jan 29, 2016 9:46am
279 Views
Post# 24505050

AVV halted and news out

AVV halted and news out

 

Alta Vista, RedeCan Pharm remove royalty under LOI

 

2016-01-29 09:39 ET - News Release

 

Mr. Ian Foreman reports

ALTA VISTA AND REDECAN AGREE TO REMOVE ROYALTY

Alta Vista Ventures Ltd. and RedeCan Pharm have agreed to remove the royalty that had been previously considered under the original letter of intent (see news release dated Nov. 27, 2015). There is now no overriding royalty to be paid.

The amended terms of the acquisition consider the purchase of a 90-per-cent interest in RedeCan by paying to the owner of RedeCan $8-million and issuing a total of nine million shares. The underlying owner will retain a non-participating 10-per-cent ownership in the business.

"The previously considered royalty proved unpopular with our shareholders and interested parties. We worked diligently to remove it and believe that this is a much better structure that will benefit both groups," stated Ian Foreman, president of Alta Vista.

In addition, the parties have agreed to close the transaction on, or before, March 1, 2016.

We seek Safe Harbor.

Bullboard Posts