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Draganfly Forms US Defense Subsidiary and Names Thomas Modly Chairman

BullishMedium impact
DPROCA$6.47 −0.15%

Draganfly Inc. (CSE:DPRO) has established a new subsidiary named Draganfly Defense USA to pursue defense market opportunities in the United States. Former Acting U.S. Navy Secretary Thomas B. Modly has been named chairman of the unit, while retired Brig. Gen. AJ Pasagian will lead U.S. defense operations.

The creation of the subsidiary is structured to satisfy U.S. defense compliance requirements, including export-control and cybersecurity rules needed to secure military contracts. The new division builds on Draganfly's existing counter-unmanned aircraft systems development pathway with the U.S. Army Combat Capabilities Development Command Army Research Laboratory.

Future growth for the unit depends on converting its early-stage development efforts into funded U.S. programs and production contracts. Shares of Draganfly Inc. were down 0.15% at 6.47 CAD in recent trading.

Key points

  • Draganfly Inc. established Draganfly Defense USA to target military contract opportunities.
  • Former Acting U.S. Navy Secretary Thomas B. Modly was appointed chairman of the new unit.
  • Retired Brig. Gen. AJ Pasagian has been named to lead U.S. defense operations.
  • The subsidiary focuses on meeting U.S. export-control and cybersecurity compliance rules.
  • The move builds on counter-unmanned aircraft systems work with the U.S. Army Research Laboratory.

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Questions and answers

What is Draganfly Defense USA?

Draganfly Defense USA is a new subsidiary created by Draganfly Inc. to target military contracts and meet security compliance standards in the United States.

Who is leading Draganfly Defense USA?

Former Acting U.S. Navy Secretary Thomas B. Modly serves as chairman, and retired Brig. Gen. AJ Pasagian leads U.S. defense operations.

What military work does Draganfly have in progress?

Draganfly has ongoing counter-unmanned aircraft systems development work with the U.S. Army Combat Capabilities Development Command Army Research Laboratory.