Draganfly Investments Raises GBP137,000 By 51 Million Share Placing (ALLISS)

12th Mar 2018 10:09

LONDON (Alliance News) - Draganfly Investments Ltd on Monday said it has raised GBP137,160 through a placing of 50.8 million shares at a price of 0.27 pence per share.

Shares in the investment trading company were down 22% at 0.280 pence.

Proceeds from the placing will go towards general purposes and the costs of a possible transaction under AIM requirements it seeks to make.

However, Draganfly does not expect to make a transaction by the deadline of next Wednesday, which will lead to shares being suspended until the publishing of the admission document of such a transaction.

Draganfly now has 220.2 million shares issued overall.