Update on Core Assets and Strategies

Update on Core Assets and Strategies Cannes, 14 June 2024 8:00 Following the publication of its 2023 Annual Report and Audited Accounts, Tonner Drones (“ Tonner Drones ” or the “ Company ”) provides this update on its core assets and strategies. Since new management was appointed and assumed board responsibilities just over a year ago, the Company has stabilized its operations and secured its future funding. Significant cost reductions, coupled with the termination of the Company's...

Cannes, 14/06/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

Update on Core Assets and Strategies

Cannes, 14 June 2024 8:00

Following the publication of its 2023 Annual Report and Audited Accounts, Tonner Drones (“ Tonner Drones ” or the “ Company ”) provides this update on its core assets and strategies.

Since new management was appointed and assumed board responsibilities just over a year ago, the Company has stabilized its operations and secured its future funding. Significant cost reductions, coupled with the termination of the Company's dependence on legacy variable pricing financing instruments, have ensured that Tonner Drones is in a stable financial condition as it enters the second half of 2024. 

With this financial restructuring behind it, management is now focused on generating shareholder value through the Company's minority stakes in French drone companies, the Inhibitor military drone and associated patents, Countbot, potential acquisitions, and the legacy inventory left over from Delta Drone. Towards those ends, the Company provides the following updates:

As set forth in its press release of 4 March 2024, Tonner Drones became the controlling shareholder of the Swiss company Aero41 via the conversion of its outstanding debt into equity. Aero41 was another company that Delta Drone had invested in prior to new management's arrival and was encountering financial difficulties. Tonner Drones hoped there was a possibility of turning Aero41 around. Unfortunately, Tonner Drones has determined that Aero41 does not have sufficient turnaround potential. As such, Aero41 will enter into bankruptcy proceedings.

Finally, Tonner Drones is pleased to confirm that after being briefly placed on the Euronext penalty bench on 7 June 2024, once it published its annual report and audited financial accounts on 12 June 2024, it exited the Euronext penalty bench on 14 June 2024.

End of press-release.

About Tonner Drones : Tonner Drones (formerly Delta Drone) develops UAVs and associated technologies for the defense and homeland security sectors. Tonner Drones holds valuable stakes in some of France's leading civilian and military drone manufacturers. Tonner Drones' strategy is to leverage its shareholdings in these companies through active asset management, a private equity fund, and by teaming up with other private equity funds to become a significant industry consolidator. Additional revenues can be achieved through royalties from patents held by Tonner Drones to recognized manufacturers. Tonner Drones does not plan on owning a factory; however, it is determined to retain R&D for its products and systems in France.

Tonner Drones' shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).

More information at www.tonnerdrones.com

If you would like to find out more, or if you are interested in a partnership: contact@tonnerdrones.com

Tonner Drones
Diede van den Ouden
Communication financière
investors@tonnerdrones.com

Tonner Drones
Fabrice Astre
Relations avec la presse
press@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/2024/03/2024-03-04_TonnerDrones-devient-actionnaire-majoritaire-dAero41_EN.pdf

https://tonnerdrones.com/wp-content/uploads/2023/09/DeltaDrone_CP_EN_20.07.2023_VD.pdf

https://tonnerdrones.com/wp-content/uploads/2023/06/DeltaDrone_CP_closing_07.06.2023_VD.pdf

https://tonnerdrones.com/wp-content/uploads/2023/09/BT-2023-09-20_DeltaDrone_UK-patent-for-Recoil-Elimination-Technology_EN_Vdef.pdf

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