Draganfly Inc. (DPRO) Earnings Call Transcript & Summary

Welcome, everyone, to the Annual General Meeting of Draganfly Inc. My name is John Mitnick. I'm the Chairman of the Board, and I will be the Chairman for this meeting. In terms of our agenda today, we will first address the formal business of the meeting as described in the proxy materials, which were sent to shareholders. Following the formal part of the meeting, management will be pleased to answer any questions that anyone might have. So I'll proceed to call the meeting to order. The meeting will now come to order. And if there is no objection, I will ask [ Joe Fernes ] of DLA Piper, our external legal counsel, to act as recording secretary; and [ King Woo ] of Endeavor Trust Company to act as scrutineer of the meeting. In order to expedite the formal business of the meeting and in accordance with the articles of the company, I will propose all motions. A secondary is not required. I will now request the recording secretary to table proof of delivery of the notice of meeting, instrument of proxy, management information circular and accompanying documents, to the registered shareholders of the company.

These have been tabled. Thank you.

Thank you very much. Proof of mailing of the notice calling the meeting and accompanying documents has been duly filed, and I direct that a copy of the notice of meeting, and together with the proof of delivery, be kept by the secretary with the records of this meeting. A quorum for the meeting is satisfied if not less than 2 persons are present, who are, or who represent by proxy, shareholders who, in the aggregate, hold at least 5% of the issued shares entitled to be voted at the meeting. I have received the scrutineer's report indicating that a quorum is present. It shows that there are 93 shareholders present in person or represented by proxy, representing 2,539,510 common shares, which represents 7.65% of the outstanding common shares of the company as of the record date. [ King ], is there any update to those figures?

No changes.

Okay. Thank you very much. Therefore, a quorum is present and notice having been given in the proper manner, I declare that this meeting is regularly and duly called and is now ready for the transaction of business. The next item of business is the presentation of the audited annual financial statements of the company for the fiscal year ended December 31, 2021, together with the auditor's report thereon. I now present to the meeting the audited annual financial statements of the company for the year ended December 31, 2021. Copies of these materials have been mailed to each registered shareholder, and there are extra copies available to shareholders upon request. It is not proposed that the audited annual financial statements be read to the meeting. Management will be pleased to answer any questions after the meeting. The next item of business is to fix the number of directors of the company to be elected at this meeting to hold office for the ensuing year or until their successors are selected or appointed. I now move that the number of directors of the company be determined at 7. Is there any discussion on the matter? Are there any opposed? Please identify any opposition. There being no opposition, I declare the motion carried. The next item of business is the election of directors. The notice which was mailed to the shareholders in advance of this meeting sets forth Cameron Chell, Denis Silva, Scott Larson, Olen Aasen, Andrew Hill Card, Jr., Julie Myers Wood and John M. Mitnick as management's nominees for election as directors. Each of the nominees proposed by management in the notice has consented to act as a director of the company. I note that no other nominations have been received in accordance with the company's advanced notice policy. I now declare the nominations closed and move to appoint the 7 directors of the company listed in the company's notice. Is there any discussion on this matter? Hearing none. If there are any opposed, please identify any opposition now. Hearing no opposition, I declare the following persons to have been duly elected as directors of the company: Cameron Chell; Denis Silva; Scott Larson; Olen Aasen; Andrew Hill Card, Jr.; Julie Myers Wood; and John M. Mitnick. The next item of business is the appointment of the auditors of the company for the ensuing financial year. Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, are proposed as auditors for the company for the following year. I move that Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, be appointed auditors for the company for the ensuing year and that the directors be authorized to set the remuneration of the auditors. Is there any discussion on this matter? Hearing none, all those opposed or -- to this appointment, please identify any opposition. Hearing no opposition, I declare the motion carried. Is there any further business to be properly brought before this meeting? Hearing none, and there being no further business, I move for the termination of this meeting. Are there any opposed? Hearing no opposition, that concludes the business of this meeting and I declare the meeting terminated. Thank you for attending. At this point of the meeting, the company's senior management will be pleased to answer questions related to the financial statements and the company's operations for the past year. I don't believe any shareholders are on the line other than the directors and officers. There might be 1 or 2 others, however, so I will open the floor for any questions. And I know that Cameron Chell, the company's President and CEO, is on the line, and I'll ask Mr. Chell to take it from here.

Thanks, John. Appreciate it. Thanks, everybody, for the attendance today and the work that went into this. I think just following John's lead, I'll just simply open it up to see if there's any questions from any shareholders or parties. We'll give that a minute or 2. And if there's none, I think, John, we could move to terminate, unless there's some discussion. Hearing no questions or discussion, I think that concludes my portion of the meeting, and I appreciate everybody's time today.

Thank you very much, Cam, and thank you to everyone else. And pleased to conclude the meeting, and I think we can terminate the call at this point. Thank you very much.

Okay. Thank you.

Thanks, everyone.

Thanks, everybody. Bye-bye.

Thanks, everyone.