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Drone Aviation Selected by Prime Contractor for Additional $1.7 Million Award
Drone Aviation Selected by Prime Contractor for Additional $1.7 Million Award.
About this update from Comsovereign Holding Corp.
[{"type":"text","content":"\nJACKSONVILLE, FL, June 04, 2019 (GLOBE NEWSWIRE) -- Drone Aviation Holding Corp. (OTCQB: DRNE) (“Drone Aviation” or the “Company”), a manufacturer of tethered drones and lighter-than-air aerostats, announced today that it has been selected by a prime contractor for an additional award valued at approximately $1.7 million. This award is a follow-on to the $3.8 million contract awarded to Drone Aviation by this same prime contractor in January 2019, bringing the total award value to approximately $5.5 million.“We are honored to have been chosen for this follow-on award by our prime contractor,” said Jay Nussbaum, Chairman and CEO of Drone Aviation. “This award is another important milestone for Drone Aviation, one that creates a valuable new stream of revenue and cashflow for the Company as we continue to execute on our strategic plan.”Due to customer-related confidentiality considerations, no additional information will be provided related to this award at this time.About Drone Aviation Holding Corp.Drone Aviation Holding Corp. (OTCQB: DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a patented tether system, Drone Aviation’s products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement, commercial, and industrial applications. For more information about Drone Aviation, please visit www.DroneAviationCorp.com or view our reports and filings with the Securities and Exchange Commission at http://www.sec.gov, including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as well as information in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.Forward-Looking StatementsStatements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially...