NEW YORK–(BUSINESS WIRE)–Drone USA, Inc. (OTC Markets:TWDLD) (“Drone USA” or the “Company”), a developer and manufacturer of low altitude Unmanned Aerial Vehicles (UAV) and related technologies, announced today that the Company has entered into a joint venture agreement with BRVANT Technologic Solutions (“BRVANT”), a Brazil based developer and manufacturer of Unmanned Aerial Vehicle Systems, USV and UGV systems, embedded systems and simulators for civil and military customers. In addition to his existing responsibilities at BRVANT, Dr. Rodrigo Kuntz, BRVANT’s Chief Executive Officer, will also join Drone USA, effective immediately as the Company’s Chief Technology Officer.
Pursuant to the agreement, the Company is acquiring the exclusive rights to BRVANT’s UAV technology and intellectual property that includes research and development efforts completed by BRVANT.
Under the agreement, Drone USA will also secure exclusive export and representation rights to BRVANT’s products along with the option to acquire full ownership of BRVANT should the companies agree at a later date it would be in the best interest of both businesses. Financial terms of this transaction were not disclosed.
Michael Bannon, Chief Executive Officer of Drone USA, commented, “We are extremely pleased to be entering into this agreement with BRVANT. We view this as an opportunity for the Company to secure the latest in UAV technology and know-how without extensive research and development costs and the lengthy process that is typically required for new market introductions. We intend to leverage our agreement by utilizing BRVANT’s Brazilian operations to fulfil operational needs that are currently not being addressed by other UAV platforms. We believe that this agreement is a perfect example of the type of strategic joint venture opportunity and acquisition that we intend to pursue in our ongoing efforts to accelerate Drone USA’s growth and to add value for our shareholders.”
Dr. Rodrigo Kuntz, Chief Executive Officer of BRVANT, stated, "We believe this innovative joint venture partnership between BRVANT and Drone USA will help further our mission of offering the latest in UAV systems and technology and will provide a competitive advantage over other platforms. This transaction will strengthen our business prospects in South America and the United States. We are excited to work with the team at Drone USA and look forward to a long and successful partnership.”
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward looking statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes” or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company’s business plan and filings with the OTC Markets Group.