UAS Drone Corp. Completes Acquisition of Duke Robotics Inc – Drones Information
UAS Drone Corp. (OTC: USDR) today announced the completion of the acquisition of Duke Robotics, Inc., the supplier of an innovative military UAS drone with advanced stabilization technology, after which Duke Robotics became a wholly owned subsidiary of UAS Drone Corp.
The combined company will focus on Duke Robotics’ business and expand its presence in the military drone market with TIKAD – a UAS octocopter integrated into a six-degree-of-freedom (6 DOF) robotic gimbal system, and that Remote firing of small arms in real time enables weapons and light weapons.
- In accordance with the previously announced share exchange agreement and the recently completed merger agreement, UAS acquired Drone Corp. all of Duke Robotics’ outstanding capital in exchange for UAS Drone Corp.’s common shares issued to Duke Robotics’s shareholders, representing 71% of the capitalization of UAS Drone Corp. after the transaction.
- Upon completion of the acquisition, Duke Robotics appointed the combined company’s board of directors and Duke Robotics’s senior management team held all key executive positions in the combined company.
About Duke Robotics:
UAS Drone Corp. (OTC: USDR) recently acquired Duke Robotics.
Duke Robotics is a forward-looking company focused on providing the necessary products and solutions for the defense sector. Duke Robotics developed TIKAD, an advanced robot system that meets the growing need for technical solutions in the combat area. The revolutionary stabilization technology from Duke Robotics enables the remote shooting of light firearms and weapons in real time and precisely via an unmanned aerial platform (UAV). The proprietary and confidential complex kinematic algorithms address the critical need of modern warfare to carry weapons away to hit distant enemy targets without endangering military personnel.
We believe troops can use TIKAD to deal with potentially dangerous situations quickly and efficiently from the air. This technology also enables troops to disarm a situation remotely without ever deploying a presence on the ground.
More information about Duke Robotics can be found at www.dukeroboticsys.com or in documents that USDR files with the Securities and Exchange Commission at http://www.sec.gov.
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