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Saskatoon drone maker Draganfly Inc. says there are no “special rights” attached to a $10-million US investment from an unnamed U.S. investment fund and Unusual Machines Inc., a company linked to Donald Trump Jr.<\/p>\n
Draganfly is headquartered in Saskatoon and was founded in 1997. Unusual Machines and the unnamed fund are each investing $5 million US.<\/p>\n
Unusual Machines, a supplier of drone components, named the U.S. president’s son to its advisory board in November 2024.<\/p>\n
“No board seats or special rights are attached to these investments,” a Draganfly spokesperson said in a statement emailed to CBC News.<\/p>\n
“In response to rising demand for Draganfly’s proprietary products and technology in Canada and other allied countries, we have recently attracted investment to facilitate new hires and expand manufacturing capability.”<\/p>\n
The investment took the form of a purchase of 1,869,159 common shares of the company at a price of $5.35 US, according to a news release by Draganfly. As of market close on Tuesday, the stock was trading at $6.20 US on the NASDAQ, a one-day increase of $0.60 US.<\/p>\n
The stock also trades on the Canadian Securities Exchange. As of closing Tuesday, it was trading at $8.81, a one-day increase of $0.92.<\/p>\n
The company said it plans to use the investment money to accelerate development and fund general working capital.<\/p>\n
Draganfly manufactures drones in Saskatoon and Vancouver, and is planning expansions in Edmonton and Ottawa. It also operates in Tampa, Fla.<\/p>\n
The drones are used around the world in search and rescue operations, agriculture and by the U.S. military. In 2025, Draganfly won a contract to provide the U.S. Army with drones.<\/p>\n
Earlier this month, Draganfly secured a five-year contract with Ottawa to supply the Canadian Armed Forces with up to 5,000 drones. The deal includes a firm commitment to buy 100 drones, with the option to purchase another 4,900.<\/p>\n
The federal government approved Draganfly as a qualified supplier under Ottawa’s Defence Drone Initiative.<\/p>\n