Delta Drone International to Expand Its Australian Drone-Based Services Through Acquisition of Arvista Pty Ltd

ASX Announcement DELTA DRONE INTERNATIONAL TO EXPAND ITS AUSTRALIAN DRONE-BASED SERVICES THROUGH ACQUISITION OF ARVISTA PTY LTDHighlights:Delta Drone International to acquire a majority stake in Arvista Pty Ltd – a Perth-based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries. Established in 2012, Arvista has strong experience in providing unmanned aerial vehicles (UAV) services with a growing client baseAcquisition is...

Grenoble, 16/08/2021 (informazione.news - comunicati stampa - scienza e tecnologia)

ASX Announcement

DELTA DRONE INTERNATIONAL TO EXPAND ITS AUSTRALIAN DRONE-BASED SERVICES THROUGH ACQUISITION OF ARVISTA PTY LTD

Highlights:

16 August 2021 – Global Drones-as-a-service provider Delta Drone International Limited ASX:DLT) ( Delta Drone or the Company ) today announced that it has entered into a conditional Share Purchase Agreement to acquire 60% of Arvista Pty Ltd (“Arvista”), and a Shareholders Agreement relating to Arvista which includes a Call Option to acquire the remaining 40% of Arvista in the future.

Arvista is a Perth-based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries. Established in 2012, it was one of the first certified operators in Western Australia to provide commercial UAV surveying services to mining and other civil construction and earthworks projects.

As part of the due diligence process, the Company engaged independent specialists to undertake legal, financial and operational reviews of Arvista. Management also conducted an independent assessment of the business suitability and growth opportunities and concluded that the acquisition of a strategic stake in Arvista not only provides DLT with an immediate presence in Australia, but also with an experienced team of drone aerial survey operators which currently serves a contracted client base of mining and other engineering-related companies, to capture important survey data and other important information.

The acquisition of 60% of the shares in Arvista is expected to be completed within 30 days on the terms and conditions noted below, following the satisfaction or waiver of the conditions precedent mentioned below.

Delta Drone International Limited | ABN 17 618 678 701
T +61 8 6189 1155 | A: Level 27, 101 Collins Street, Melbourne VIC 3000

Commenting on the acquisition, Delta Drone CEO, Christopher Clark said, “Arvista is an excellent strategic fit for Delta Drone's operations in Australia. The company has an excellent reputation and a blue-chip client base, serviced by an experienced and professional staff who are keen to utilise our co-ordinated services approach to grow the market opportunity.

“We look forward to not only growing with the Arvista team, based on their experience and relationships in Western Australia, but to also assist Arvista in expanding their scope beyond pure surveying, to include the full range of drone-as-a-service products that DLT currently offer our multinational mining clients in the international arena, such as AI-based model analysis, security & surveillance, blast monitoring and asset inspection.”

Delta Drone International Chairman, Eden Attias said: “Australia is the key immediate growth market for Delta Drone International. To scale quickly in this market, we needed to ensure that we found a culturally aligned company with the skillset and capability to harness our broader industry-leading drone services. The transaction is well funded from our cash reserves and is expected to be earnings accretive and to provide the foundation for Delta Drone International to achieve growth in FY22.”

Key deal terms

$0.04 per share ( New Capital Raising Price ), $384,000 worth of DLT shares at the New Capital Raising Price minus the number of shares already issued to the Sellers at Completion.

Conditions precedent

The conditions precedent to the Initial Transaction are as follows:

This announcement has been authorised for release by the Board of Delta Drone International Limited.

-ENDS-

For more information, please contact:

Corporate
Stephen Buckley Company Secretary
+61 (0)8 6189 1155

Investors
Eric Kuret, Executive Director @ Market Eye P: +61-417 311 335
E: eric.kuret@marketeye.com.au

Media
Tristan Everett, Director @ Market Eye P: +61-403 789 096
E: tristan.everett@marketeye.com.au

About Delta Drone International

Delta Drone International is a multinational drone-based data service and technology solutions provider for the mining, agricultural and engineering industries. It provides aerial surveying and mapping, security and surveillance, and blast monitoring and fragment analysis through a fully- outsourced service with AI and fast data turnaround that allows enterprise customers to focus on operations on the ground while Delta Drone International takes care of everything in the air.

It has in-house enabling proprietary technology, an R&D and integration centre and specialist expertise in designing, developing and providing best-in-class autonomous safety systems for commercial drone deliveries, drone flights for crowd monitoring and in urban areas, as well as 'beyond visual line of sight' (BVLOS) missions.

For more information, please visit https://www.dlti.com.au/

Attachment