Draganfly Inc. (NASDAQ:DPRO) (CSE:DPRO) (FSE: 3U8A) ("Draganfly" or the "Company"), a drone solutions, and systems developer, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 16,666,666 units of the Company, with each unit consisting of one common share (or one pre-funded warrant to purchase one common share in lieu thereof) and one warrant to purchase one common share. Each unit was sold at a public offering price of US$0.12, for gross proceeds of approximately US$2.0 million (the "Offering"), before deducting underwriting discounts and offering expenses. The warrants will have an exercise price of approximately US$0.15 (CA$0.2048) per share, are exercisable immediately and will expire five years following the date of issuance and the exercise price will be in Canadian currency.

Maxim Group LLC is acting as sole placement agent for the Offering.

The Offering is subject to customary closing conditions including receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange and notification to the Nasdaq Stock Market.