The sale of this non-core asset provides Draganfly with non-dilutive capital for its ongoing core business objectives and operations. Sauce Video is a video content creation and sourcing solution that allows companies to collaborate with their employees, customers, and fans to create digital video content. Sauce Video’s solution reduces the complexity and cost of video creation, enabling customers to easily capture, collect, and create videos for a wide range of use cases, including marketing, sales enablement, recruiting, and employee engagement. The sale of this asset does not preclude Draganfly from accessing or using Sauce Video in the future. The net proceeds to Draganfly is US$854K.
Dragonfly has announced that its wholly-owned subsidiary, Draganfly Innovations Inc., has sold its technology asset, Sauce Video, to Oracle Corporation, (NYSE: ORCL) a multinational computer technology corporation.