TORONTO, ONTARIO - Deveron UAS Corp. (CSE: DVR)(CSE: DVR.CN)(CNSX: DVR) ("Deveron" or the "Company") is pleased to report that a trial program of drone-data collection for one of Canada's largest and most progressive agricultural producers has commenced. The drone data collected by Deveron, specifically focused on higher-value crops, will be used to support its customer's research opportunities in western and Atlantic Canada. Deveron is providing various layers of data, including thermal, to help drive more informed decisions in crop production.
"Our customer is a progressive, global leader that continues to invest in innovation to improve the way farmers produce crops," stated David MacMillan, President & CEO of Deveron. "Deveron's focus on drone-data collection for the most progressive producers in agriculture is a cornerstone of our business model. We are thrilled to continue to see the most innovative global leaders in farming explore cutting edge technology to enhance decision-making."
According to global consulting firm PwC, the market potential for the commercial drone industry is valued at over $127 billion with agriculture making up $32.4 billion. In addressing this market opportunity, Deveron is building a standardized network of drones and sensors to provide a scalable data solution for growers throughout North America. The Company continues to expand its on-demand data solutions to support the decision-making of companies that are integrating drone technology in precision agriculture.
"We are also excited to highlight the company's first quarter of positive operating earnings," said Mr. MacMillan following the recent release of the Company's 2017 second-quarter financial results. "We continue to see opportunity in providing a network of drones to help North American farmers make efficient data driven decisions.
"The recent quarter highlights our ability to generate operating margin. As our network and sales continue to grow in Canada and into select areas of the U.S., we see ongoing opportunity to increase efficiencies in the costs of collecting drone data."
About Deveron UAS:
Deveron is a nationally compliant, Transport Canada licensed, UAV operator providing enterprise drone data services to agriculture. Deveron's data helps farmers increase yields and reduce costs using sophisticated Unmanned Aerial Systems ("UAS" or "drones"), sensors, software and analytics. Deveron's drone data service network allows enterprise level customers to obtain on-demand, actionable data without exposure to technology and capital risks. The Company is focused on building a standardized network of drones and sensors to provide data in North America.
For more information and to join our community, please visit www.deveronuas.com.
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.