Vancouver, British Columbia (FSCwire) – Alta Vista Ventures Ltd. (AVV-CSE) announces the signing of a Letter of Intent to purchase a 100% interest in Aeromao Inc.
Aeromao is a manufacturer of Unmanned Aerial Vehicles (UAV) used for survey and mapping purposes. Aeromao has quickly grown into a leader in the industry with their UAVs. Aeromao has sold their proprietary line of Aeromapper UAVs to clients operating in every continent – and approximately 50 countries in total.
Since its conception the proprietary Aeromapper line of fixed wing UAVs has offered mapping and surveying companies a unique product in the quickly expanding marketplace. Competing manufacturers have not yet created a competitive product, which makes the Aeromapper line of UAVs true leaders in their categories. Critical competitive advantages are the superior battery life (equating to longer flight times), modularity and unique design characteristics, GNSS PPK capabilities, specific manufacturing processes, and affordability.
Aeromao has been growing consistently year-over-year since inception. It booked $614,849 of revenue in fiscal year 2015, which was an increase of 28% over the revenue of 2014.
Alta Vista has agreed to acquire Aeromao for $1,400,000 and 2,200,000 shares of Alta Vista. The companies have agreed to complete the required due diligence and prepare the definitive agreement for signing within 90 days.
About Aeromao Inc.:
Aeromao has been in business since 2013 and has quickly grown into a world leader in the industry. The Aeromapper line of UAVs are operating in every continent and in approximately 50 countries.
Aeromao is backed by years of experience and a history of innovative endeavours in the area of UAVs for high-precision mapping. Its roots date back to 2005 where the principles were involved in Latin America providing aerial photography and photomapping services with UAVs and RPVs (Remotely Piloted Vehicles) where they successfully completed more than 280 flight missions, in times where UAV services where unheard of. These missions resulted in high quality flight operations and imagery in complex terrain and evolving technology. These flight operations were completed for projects for government institutions, private firms and even military agencies.
For more information on Aeromao please visit their website at www.aeromao.com.
About the Unmanned Aerial Vehicle sector:
The UAV market is rapidly diversifying with new applications being introduced at a regular pace. The industry has expanded to include environmental management, crisis management, agriculture, policing and crowd monitoring, civil engineering, pollution monitoring, fisheries protection, disaster management, telecommunications maintenance, oil and gas exploration, mineral exploration, mine safety, geophysical surveys and mapping applications.
The UAV sector is quickly becoming one of the most dynamic sectors in the aerospace industry. According to a survey by marketsandmarkets.com in October of 2015 “the global Unmanned Aerial Vehicle (UAV) market is valued at US$ 10.1 Billion in 2015 and is expected to show a robust growth in future, accounting for USD 14.9 Billion by 2020…”. In addition, it is forecast that spending on UAVs will triple over the next decade, growing from US$4 billion in 2015 to US$14 billion by 2024 (the Canadian Trade Commissioner Office).
About Alta Vista Ventures:
Alta Vista Ventures’ goal is to enter the Unmanned Aerial Vehicle (UAV) industry by purchasing a varied group of companies that will complement each other and, in turn, create a consortium of businesses that will cover all aspects of the industry.
On behalf of the Board,
“Jason Springett”
Jason Springett
President
For additional information on Alta Vista Ventures please contact Mr. Don Shaxon at 289-697-8625
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Original Article: http://www.stockhouse.com/news/press-releases/2016/07/11/alta-vista-signs-loi-to-acquire-uav-manufacturer-aeromao-inc
