NEW YORK--(BUSINESS WIRE)--The end of the first paragraph of the release issued August 1, 2016, should read: ... effective as of July 7, 2016 (instead of: ... effective as of the date of this release).
The corrected release reads:
DRONE USA, INC. ANNOUNCES APPOINTMENT OF NEW CHIEF STRATEGIC OFFICER
Drone USA, Inc. (OTC Markets: DRUS) (“Drone USA” or the “Company”), a developer and manufacturer of low altitude Unmanned Aerial Vehicles (“UAV”) and related technologies, today announced that Paulo Ferro will join the Company as its Chief Strategic Officer in addition to serving on the Company’s Board of Directors, effective as of July 7, 2016.
As Chief Strategic Officer, Mr. Ferro will be responsible for establishing and reviewing key strategic priorities and translating them into a comprehensive strategic plan, forging new and maintaining existing partnerships that support the execution of the Company’s key initiatives, identifying potential acquisitions and acting as a resource for the Company to increase broad cohesion of Drone USA’s strategic plans. Mr. Ferro will report directly to the Company’s Chief Executive Officer, Michael Bannon.
Michael Bannon, Chief Executive Officer of Drone USA, stated: “We are very pleased to have Paulo join the Company as our Chief Strategic Officer. We believe that his knowledge and expertise in UAV systems as well as strategic relationships within the UAV industry will prove invaluable to the growth of our business. We welcome Paulo to our team and are confident that he will make an excellent contribution to our Board of Directors.”
Mr. Ferro has over 28 years of experience in strategic planning and business development in the field of advanced technologies. Mr. Ferro is a subject-matter expert in tactical and strategic UAVs, Remotely Piloted Aircraft and interrelated systems used for defense and commercial applications. His experience encompasses UAV classifications ranging from the very small (NANO) to very large, high-altitude/long-endurance (HALE) stratospheric platforms.
Prior to joining Drone USA, he served as an International Strategic Developer for General Atomics Aeronautical Systems Inc. (GA-ASI), a leading developer and producer of medium-altitude/long-endurance RPAs and is best known for the Predator, a complete UAV system. In this role, Mr. Ferro lead promotional opportunities for GA-ASI’s full line of Remotely Piloted Systems to national and international customers.
Prior to joining GA-ASI in November 2013, Mr. Ferro served as Director of International Business Development for AeroVironment Inc., one of the world’s leading producers of tactical Unmanned Aircraft Systems used for intelligence, surveillance, and reconnaissance, as well as for a multitude of commercial applications. He also held senior positions with Teledyne Technologies, Corning, and Northrop Grumman. Paulo was directly involved in helping secure over half a billion dollars in international UAV contracts throughout his career.
Mr. Ferro obtained his Bachelors of Science degree in Electrical Engineering from the University of Massachusetts in Dartmouth, and holds several certifications in International Business, Engineering Management, and Autonomous Systems.
About Drone USA, Inc.
Headquartered at One World Trade Center in New York, NY, Drone USA plans to become a primary developer and manufacturer of low altitude unmanned aerial vehicles (UAV) and related technologies. Target markets include select defense segments (military), public safety (police, fire, emergency response), and high growth commercial applications such as agriculture, photogrammetry, mining, utilities, and entertainment. The Company seeks to strengthen its systems portfolio by acquiring UAV firms with superior technologies that are proven in high-growth markets, as well as complementary technologies such as sensors and software.
For additional information about Drone USA, please visit www.droneusainc.com.
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 of like kind. 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 the company’s business plan and filings with the OTC Markets Group.