Brief: Delta Drone Signs 1 Million Euros Convertible-Bonds Contract With OTT Ventures

Tonner Drones SA

11/05/2020 17:14

May 11 (Reuters) - Delta Drone SA  ALDR.PA :
    * REINFORCES ITS FINANCIAL RESOURCES
    * SIGNATURE OF A EUR 1M CONVERTIBLE-BONDS CONTRACT WITH OTT
VENTURES
    * IN VIEW OF A CASH POSITION OF EUR 2.5M AT BEGINNING OF MAY
2020
AFTER PAYMENT OF MOST OF CURRENT DEBTS, SETTING UP NEW FINANCING
IN ADDITION TO EUR 10M CONTRACT FOR ORNAN WITH WARRANTS
ANNOUNCED 8 APRIL 2020
    * NEW FINANCING WOULD MAKE IT POSSIBLE TO HAVE A MINIMUM
CASH
POSITION OF EUR 12.5M, WHICH WOULD COVER COMPANY'S FINANCING
NEEDS FOR SEVERAL YEARS
    * ON CORONAVIRUS: SUSPENSION OF VARIOUS ASSIGNMENTS COULD
AFFECT
ACTIVITY LEVEL OF Q1 AND EVEN FIRST SIX MONTHS OF CURRENT
FINANCIAL YEAR
    * ON CORONAVIRUS: NOT POSSIBLE TO EVALUATE FINANCIAL
CONSEQUENCES
AT THIS TIME

Source text for Eikon:  ID:nGNE7h2Z5b 
Further company coverage:  ALDR.PA 

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