HOUSTON--(BUSINESS WIRE)--Valmie Resources Inc. (OTCBB: VMRI) announces it has signed a Memorandum of Understanding (MOU) with ALTI UAS to explore establishing a distributorship whereby Valmie will serve as the primary and preferred distributor of all ALTI products in the U.S. This relationship may take the form of a joint venture agreement, distributor agreement or other formal arrangement between the two companies.
ALTI is an industry-leading unmanned aircraft systems (UAS) manufacturing and development corporation specializing in producing vehicles with vertical take off and landing (VTOL) capability. ALTI’s products are based on many years of industry, technology and development experience. The company founder pioneered a range of commercial and industrial multi-rotor systems including the first small UAS with rapid deploy folding airframes, front mounted camera gimbals, and other unique features now found on many other systems.
“We are expecting the result of this MOU will be a formal agreement outlining the details of our future collaboration with ALTI,” said Gerald B. Hammack, President and CEO of Valmie Resources. “We believe this relationship could significantly enhance Valmie’s growth path and add shareholder value.”
Under the terms of the MOU, Valmie will meet with ALTI to submit a detailed presentation of the services that will be available to ALTI related to sales, service and support in the U.S. for ALTI products. Following the presentation, Valmie will present ALTI an official plan that will set forth the terms and conditions for the first stage of the project.
In the interim, Valmie has ordered five multi-rotor fixed-wing Transition BASE Systems from ALTI UAS and plans to add the innovative hybrid systems to its existing product line of unmanned aircraft. The five next generation commercial aircraft will have the ability to take off and land vertically, practically anywhere.
The VTOL systems will feature an efficient aerodynamic design that boasts one of the fastest deployment times for aircraft of this nature, claiming a case-to-flight time in less than five minutes. Unlike traditional fixed-wing drones, large complex launch and landing hardware is not required.
The systems will provide Valmie with broad mission scope and flexibility.
About Valmie Resources (OTCBB: VMRI)
Valmie Resources is a U.S. company actively pursuing opportunities for the commercialization of leading edge products and services in the rapidly expanding technology industry. Valmie seeks concepts with valid business models positioned to make a significant impact within the four key “megasectors” of technology: software, hardware, networking, and semiconductors. Valmie brings operating talent, tools, and leadership to emerging companies in these sectors, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
For further information visit http://valmie.com
Certain information provided in this press release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. You can find a discussion of those risks and uncertainties in our EDGAR securities filings with the Securities and Exchange Commission. Such factors include, but are not limited to: general economic, market and business conditions; fluctuations in the technology market; the results of product development and the result of our efforts to develop strategic relationships, partnerships and potential acquisitions that are in line with our business model; outcome of partnership negotiations; the uncertainty of market estimates; changes in environmental and other regulations; risks associated with retail operations; and other factors, many of which are beyond the control of the Company. There is no representation by Valmie Resources that actual results achieved during the forecast period will be the same in whole or in part as those forecast. Except as may be required by applicable securities laws, Valmie Resources assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.