GlobeNewswire Inc | Jul 28, 2020 09:15AM EDT

July 28, 2020

Los Angeles, CA, July 28, 2020 (GLOBE NEWSWIRE) -- Draganfly Inc. (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8) (Draganfly or the Company), an award-winning, industry-leading manufacturer within the commercial Unmanned Aerial Vehicle (UAV), Remotely Piloted Aircraft Systems (RPAS), and Unmanned Vehicle Systems (UVS) sectors, is pleased to announce that Bulzi, LLC,(Bulzi) has signed a memorandum of understanding to use Draganflys drones and aerial sensors for their Department of Defense (DoD) Base Security development projects.

Bulzi is a human geospatial intelligence technology and services company based in Newport Beach, CA. Bulzi has been awarded multiple Small Business Innovation Research (SBIR) contracts with US DoD agencies for the purpose of adapting its commercial technologies to enhance US military base security. Utilizing Bulzis expertise in geospatial human intelligence, Bulzis SBIR awards will provide enhanced tracking and behavioral analytics of base personnel and visitors to ensure compliance with security protocols.

Draganfly, as a North American secure technology developer and UAS manufacturer will provide drones with integrated sensors and location perimeter monitoring hardware for Bulzi to utilize within their security development projects.

This is an extremely exciting project for Draganfly, said Cameron Chell, CEO Draganfly. Bulzi is a leader in human geospatial intelligence and services. The integration of our technology with Bulzis will have wide-spread use cases across the defense industry.

We chose Draganfly to partner on these projects with us because of the quality of their technology, the fact that they already work in the US military space, and are a North American based secure technology developer and UAS manufacturer, said Brent McKay, CEO Bulzi. Developing our services with the industry leader in drone technology will allow us to provide the best in class offering and ensure scale to meet the size of the opportunity.

The parties anticipate entering into definitive agreements setting out in more detail the terms of the partnership in the fourth quarter of 2020.

Corporate Update

"The Company also announces that on July 16th 2020 it completed a shares for debt transaction for payment of a 3rd party strategic vendors invoices. The Company issued an aggregate of 555,409 common shares (Common Shares) in the capital of the Company at a deemed price of $0.55 per Common Share to settle $305,475.03 of outstanding debt. The Common Shares are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws."

About Bulzi (pronounced Bulls-Eye)

Bulzi, LLC is a leader in the human geospatial intelligence industry, leveraging mobile device location data in a privacy-compliant manner to help manage people and assets in areas of interest. Headquartered in Newport Beach, California, the company pioneered the use of mobile phone location data for measuring audiences in the commercial outdoor advertising market, and is now applying its expertise to improve situational awareness for government agencies.

For more information on Bulzi, please visit us atwww.bulzi.com or email media@bulzi.com.

About Draganfly

Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge UVS and software that revolutionize the way people do business. Recognized as being at the forefront of technology for over 22years, Draganfly is an award-winning, industry-leading manufacturer within the commercial UAV, RPAS, and UVS space, serving the public safety, agriculture, industrial inspections, security, and mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

For more information on Draganfly, please visit us atwww.draganfly.com. For additional investor information, visit https://www.thecse.com/en/listings/technology/draganfly-inc,https://www.otcmarkets.com/stock/DFLYF/overvieworhttps://www.boerse-frankfurt.de/aktie/draganfly-inc.

Media Contact Arian Hopkins email: media@draganfly.com

Company Contact Email: info@draganfly.com