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Drone USA, Inc. Signs Joint Venture Agreement with BRVANT Technologic Solutions
Drone USA, Inc. Signs Joint Venture Agreement with BRVANT Technologic Solutions.
About this update from Bantec Inc.
[{"type":"text","content":"\n \n Drone USA, Inc. (OTC Markets:TWDLD) (“Drone USA” or the \n “Company”), a developer and manufacturer of low altitude Unmanned \n Aerial Vehicles (UAV) and related technologies, announced today that the \n Company has entered into a joint venture agreement with BRVANT \n Technologic Solutions (“BRVANT”), a Brazil based developer and \n manufacturer of Unmanned Aerial Vehicle Systems, USV and UGV systems, \n embedded systems and simulators for civil and military customers. In \n addition to his existing responsibilities at BRVANT, Dr. Rodrigo Kuntz, \n BRVANT’s Chief Executive Officer, will also join Drone USA, effective \n immediately as the Company’s Chief Technology Officer.\n \n \n Pursuant to the agreement, the Company is acquiring the exclusive rights \n to BRVANT’s UAV technology and intellectual property that includes \n research and development efforts completed by BRVANT.\n \n \n Under the agreement, Drone USA will also secure exclusive export and \n representation rights to BRVANT’s products along with the option to \n acquire full ownership of BRVANT should the companies agree at a later \n date it would be in the best interest of both businesses. Financial \n terms of this transaction were not disclosed.\n \n \n Michael Bannon, Chief Executive Officer of Drone USA, commented, “We are \n extremely pleased to be entering into this agreement with BRVANT. We \n view this as an opportunity for the Company to secure the latest in UAV \n technology and know-how without extensive research and development costs \n and the lengthy process that is typically required for new market \n introductions. We intend to leverage our agreement by utilizing BRVANT’s \n Brazilian operations to fulfil operational needs that are currently not \n being addressed by other UAV platforms. We believe that this agreement \n is a perfect example of the type of strategic joint venture opportunity \n and acquisition that we intend to pursue in our ongoing efforts to \n accelerate Drone USA’s growth and to add value for our shareholders.”\n \n \n Dr. Rodrigo Kuntz, Chief Executive Officer of BRVANT, stated, \"We \n believe this innovative joint venture partnership between BRVANT and \n Drone USA will help further our mission of offering the latest in UAV \n systems...