DRO 2.99% $1.95 droneshield limited

Ann: Placement and Share Purchase Plan, page-2

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    Use of Funds
    Net proceeds raised from the Placement and SPP are intended to be used to fund:
    • Rapidly scaling the sales and marketing resourcing (team and inventory) to support current
    momentum in the US, Europe and other locations as they emerge from COVID-19 slowdown
    • Additional resourcing (including inventory) to support airport trials
    • Scaling up of the Australian engineering team to support rapid refinement of products in response
    to end user feedback
    • Investment in long lead items for sale inventory to enable rapid sales and demonstrations
    • Repayment of the $600,000 R&D Tax Incentive Loan (so DroneShield receives the full amount of
    thr 2020 R&D Tax Incentive due in first half of 2021)
    • General working capital.
 
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