#Drone Stock News: Global UAV Technologies (CSE: $UAV.C) signs LOI to purchase Easy SFOC Ltd.
May 17, 2017 (Investorideas.com Newswire) Global UAV Technologies Ltd. (UAV-CSE) (UAV.CN) (the "Company") announces that it has signed a Letter of Intent to purchase Easy SFOC Ltd. for total consideration of $100,000 payable as $70,000 in cash and $30,000 in shares of Global UAV Technologies. Easy SFOC is a growing business that is complimentary to the current businesses that are under the Global UAV Technologies umbrella.
Easy SFOC is a regulatory consulting service that assists clients with the preparation of Special Flight Operation Certificates (SFOCs) for Unmanned Aerial Vehicle (UAV) operations. Easy SFOC developed a proprietary user-friendly interface that collects information on a client's site locations, operations, and crew information quickly and efficiently. The client is then provided with a customized SFOC application ready to submit to Transport Canada.
In addition, the client receives all of the required supporting documents such as a site survey, an operations manual, safety and reporting forms, and other resources to assist with safe and compliant operations. Easy SFOC is focused on providing high-quality customer service and supports an easy to understand approach to regulations.
"In this increasingly regulated environment, obtaining an SFOC is a necessary component to fly in compliance with Transport Canada. We clarify the rules and regulations for UAV use and allow the client to focus on the operations at hand, which provides greater flexibility and safety for both commercial and recreational purposes", stated Corey Feduck, president of Easy SFOC.
"Each time a quote for a survey is requested in a new jurisdiction Pioneer Aerial is required to research the permitting requirements for that new jurisdiction such that it will comply with all regulations. We initially became aware of Easy SFOC when Pioneer Aerial was looking to get their first SFOC. Easy SFOC's proprietary software made the process very simple", stated Michael Burns, president of Pioneer Aerial Surveys.
Since successfully helping Pioneer Aerial with a new SFOC, Global UAV Technologies' other subsidiary, High Eye Aerial Imaging, is using Easy SFOC to obtain SFOCs covering the rest of Canada.
Shareholders are encouraged to visit the Company's new website at www.globaluavtech.com
About Global UAV Technologies Ltd.:
With its growing technical expertise and expanding reach globally, Global UAV Technologies (formerly Alta Vista Ventures Ltd.) is the leader within the Unmanned Aerial Vehicle (or ‘UAV') sector. Through its wholly owned subsidiaries - Pioneer Aerial Surveys and High Eye Aerial Imaging – Global UAV Technologies provides a full spectrum UAV-based surface and sub-surface imagery.
Global UAV Technologies will continue its growth through expanding the business of its current subsidiaries and the continued evaluation of potential acquisitions with the goal of creating a consortium of businesses that, when fully integrated, will cover all aspects of the UAV industry.
On behalf of the Board,
President & CEO
For additional information on Global UAV Technologies please contact Mr. Stephen Litwin, Investor Relations, at 514-708-3456
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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