Draganfly Announces Closing of US$10 Million Strategic Investment

Draganfly raised US$10 million through a direct share offering to U.S. investors.

What the company is saying

Draganfly Inc. (NASDAQ: DPRO, CSE: DPRO, FSE: 3U8) has closed a registered direct offering, issuing 1,869,159 common shares at US$5.35 per share for gross proceeds of approximately US$10 million before fees. The company frames this as a strategic move to accelerate advanced capability development and to fund general working capital, aiming to meet rising demand in U.S. and international markets. The announcement emphasizes the legal and regulatory compliance of the transaction, referencing the effective shelf registration statement (Form F-10, File No. 333-290823) and the Canadian base shelf prospectus dated October 24, 2025. Jett Capital Advisors, LLC and Northland Capital Markets acted as joint-lead placement agents. The company clarifies that securities were sold exclusively to U.S. purchasers, with no Canadian participation, and that Nasdaq notification was not required. Cameron Chell is named as Chief Executive Officer, but no executive commentary or operational performance data is provided.

What the data suggests

The offering involved 1,869,159 shares at US$5.35 each, resulting in gross proceeds of approximately US$10 million before placement agent discounts and offering expenses. The transaction was executed under an effective shelf registration statement and a Canadian base shelf prospectus, ensuring regulatory compliance. All shares were sold in the United States, with no Canadian investors participating. The company has not disclosed how much of the US$10 million will remain after fees, nor has it provided any breakdown of intended capital allocation beyond general statements about development and working capital. No operational, revenue, or profitability figures are included, and there is no guidance on how the new funds will impact near-term business performance. The disclosure is complete for the capital markets transaction itself but does not provide insight into the company's underlying financial health or operational trajectory.

Analysis

The announcement is a factual disclosure of the closing of a registered direct equity offering, with all key transactional details (number of shares, price, gross proceeds, legal framework) clearly stated and supported by the data. The only forward-looking statement is the intended use of proceeds for development and working capital, which is standard and not exaggerated. There are no claims of imminent operational or financial impact, nor are there projections of future revenue, profitability, or market share. No language in the release inflates the significance of the transaction beyond its actual scope. The announcement does not disclose any large capital outlay beyond the funds raised, nor does it pair the raise with long-dated, uncertain returns. The gap between narrative and evidence is minimal, as the release is strictly transactional and avoids promotional language.

Risk flags

• ●The lack of detail on net proceeds after placement agent discounts and offering expenses introduces uncertainty about the actual capital available for deployment, which matters for assessing the company's ability to fund its stated objectives.
• ●No specific milestones, project breakdowns, or performance targets are disclosed for how the US$10 million will be used, making it difficult for investors to evaluate the likelihood or timing of value creation from this raise.
• ●The exclusive sale to U.S. investors may limit the company's access to broader capital markets or expose it to regulatory or market concentration risks if U.S. demand weakens.

Bottom line

Draganfly Inc. has completed a US$10 million direct equity raise by issuing 1,869,159 shares at US$5.35 each, with all shares sold to U.S. investors. The announcement provides full transparency on the transaction mechanics but does not disclose net proceeds, specific use of funds, or any operational or financial performance data. Investors have no visibility into how or when this capital will translate into measurable business improvements. The absence of project-level detail or concrete milestones means the raise is best viewed as a general balance sheet strengthening rather than a catalyst for near-term growth. The most important takeaway is that Draganfly now has additional capital but has not provided enough information for investors to assess the impact or timing of any resulting value creation.

Announcement summary

(NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) Draganfly Inc. announced the closing of its previously announced registered direct offering. The offering consisted of 1,869,159 common shares of the Company at a price of US$5.35 per share. The gross proceeds from the offering were approximately US$10 million, before deducting placement agent discounts and offering expenses. Jett Capital Advisors, LLC and Northland Capital Markets acted as joint-lead placement agents for the investment. Draganfly intends to use the net proceeds to accelerate the development of advanced strategic capabilities and to fund general working capital in meeting demand for its products in the rapidly maturing U.S. and international markets. The investment was made pursuant to an effective shelf registration statement on Form F-10, as amended (File No. 333-290823), which became automatically effective on February 25, 2026, and the Company’s Canadian short form base shelf prospectus dated October 24, 2025. Draganfly offered and sold the securities in the United States only, and no securities were offered or sold to Canadian purchasers. The Nasdaq Stock Market was not required to be notified for this transaction. A prospectus supplement and accompanying base shelf prospectus relating to the investment and describing the terms thereof has been filed with the applicable securities commissions in Canada and with the SEC in the United States. Copies of the prospectus supplement and accompanying base shelf prospectus may be obtained by contacting Jett Capital Advisors, LLC or Northland Securities, Inc. Cameron Chell is the Chief Executive Officer of Draganfly Inc.

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