Tonner Drones Convenes GM and Expands Strategy

Tonner Drones Convenes GM and Expands StrategyCannes, 18 September 2024 18:00, Tonner Drones (the “ Company ”) is pleased to announce that it is convening a shareholders' general meeting to be held on October 21th (the “ GM ”) so that shareholders can vote on several important resolutions including the mandate to expand its strategy. Mandate Strategy During the GM, shareholders will be asked to vote on a mandate to implement a new strategy and amend the articles of association...

Cannes, 18/09/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

During the GM, shareholders will be asked to vote on a mandate to implement a new strategy and amend the articles of association accordingly. The Company has successfully completed a restructuring and refinancing process by, among other items, settling various financing contracts and terminating all equity-lines. The Company's new management is convinced that it can also help other listed companies to escape similar stifling financing structures. The Company is in the position to advise the management of these companies, help to arrange financing, and also consider direct investments in these companies. There is a lot of demand in the market for fair financing. This new strategy should be able to contribute more easily to the profitability of TonnerDrones.

Shareholders will also be asked to vote on the appointment of proposed new board directors Olaf Graeff and David Cloetingh. They both have many years of experience as independent investors in the financial world. They can support the company in its further development and investment decisions. Their full CVs can be found on the Company's website.

In the context of the departure of Jean Francois Ott (Chairman of the board) and Brad Taylor (CEO, and director), and to assist the Company in its debt and cost reduction efforts, Mr. Ott and Mr. Taylor, along with their related entities, agreed to various measures that were set forth in the press release of 16 September 2024. These measures were subject to shareholder approval and will therefore also be voted on by the shareholders during the GM.

said Diede van den Ouden, CEO

The GM will be held on October 21st at 15:00 at 11 Av. de l'Opéra, 75001 Paris. The AGM announcement and the full text of the resolutions can be found at www.tonnerdrones.com/finance .

End of press-release.

More information at www.tonnerdrones.com /   contact@tonnerdrones.com

Diede van den Ouden

investors@tonnerdrones.com

Warning

Regarding the merits of any transaction or the making of any investment decision. It does not constitute or include any confirmation or commitment by Tonner Drones (or any other person) regarding the present or future value of TonnerDrones' business, its securities, its subsidiaries or any other assets of TonnerDrones.

This press release contains forward-looking statements based on current beliefs and expectations regarding future events. These forward-looking statements may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and/or expectations regarding future financial results, events, operations and services. and product development, as well as statements regarding performance or events. These statements are generally identified by the terms "expect", "anticipate", "believe", "intend", "estimate", "plan", "project", "may", "should" or the negative form of these and other similar expressions. These statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions regarding TonnerDrones and its subsidiaries and investments, trends in their businesses, future capital expenditures and acquisitions, developments relating to contingent liabilities, changes in global economic conditions or TonnerDrones' principal markets, competitive market conditions and regulatory factors. The realization of these events is uncertain; their outcome could turn out to be different from that envisaged today, which is likely to significantly affect the expected results. Actual results may differ materially from those anticipated or implied in these forward-looking statements. Any forward-looking statements contained in this press release are made as of the date of this press release. Except as required by applicable law, TonnerDrones undertakes no obligation to revise or update any forward-looking statements, taking into account new information or future events.

https://tonnerdrones.com/wp-content/uploads/2024/09/TonnerDrones-Board-and-Management-Changes-Lead-to-Further-Debt-Reduction.pdf

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