Drone USA, Inc. (OTCQB: DRUS) is engaged within the resale and distribution of drones, unmanned aircraft systems, and accessories to U.S. government agencies. Shares of the drone distributor surged 80.25% during trading on Tuesday, July 24, 2018. Over the past month, Drone USA, Inc. has seen average daily volume of 44.7 million shares. However, volume of 194.13 million shares or dollar volume of $2.83 million, exchanged hands during Tuesday’s trading.
Shares of Drone USA, Inc. soared on Tuesday after the company announced that the Commonwealth of Kentucky has awarded the company a one-year mast agreement to supply drones, related unmanned systems, and all required accessories to Kentucky state agencies. Under the terms of the contract, Kentucky has the option to extend the contract period for four additional one-year periods. Here is the full press release detailing of the drone supply agreement:
Drone USA, Inc. Press Release:
WEST HAVEN, CT / ACCESSWIRE / July 24, 2018 / Drone USA, Inc. (OTCQB: DRUS) (“Drone USA” or the”Company”), a service provider and reseller of drones and distributor of products to the U.S. Government, today announced that the Commonwealth of Kentucky awarded Drone USA a one-year master agreement to supply drones, unmanned aircraft systems and accessories to Kentucky state agencies. The contract may be extended at the completion of the initial contract period for four additional one-year periods.
Michael Bannon, Drone USA’s Chief Executive Officer, commented, “We are extremely excited to be part of Kentucky’s statewide drone program. There are so many uses for drones. Drones help reduce costs, making work more efficient and safer while providing security, protecting the environment, mapping, conducting inspections and much more.”
About Drone USA, Inc.
Drone USA, Inc. (OTCQB: DRUS), headquartered in West Haven, CT, is a service provider, manufacturer and reseller of drones and distributor of products to the U.S. Government. Its competitive advantage stems from offering superior service, high-quality products and establishing and maintaining life-long customer friendships. Its primary markets are U.S. police, firemen, U.S. industry and the U.S. Government.
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans”, “anticipates,” “expects,” “believes” or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.