Global UAV to settle $1.28-million debt with shares

Mr. James Rogers reports GLOBAL UAV ANNOUNCES DEBT SETTLEMENT AND NON-BROKERED PRIVATE PLACEMENT Global UAV Technologies Ltd. intends to complete a debt settlement with creditors, pursuant to which it shall seek to issue an aggregate of up to 12,190,476 units of the company at a deemed price of 10.5 cents per unit to settle an aggregate of approximately $1.28-million in outstanding debt. The company also announces a non-brokered private placement for aggregate gross proceeds of up to $220,000 from the sale of up to 2,095,238 units at a price of 10.5 cents per unit. Each unit shall consist of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to acquire one additional share at an exercise price of 13.5 cents per warrant share for a period of two years from the date of closing of the debt settlement or offering, as applicable. The company intends to use the proceeds of the offering for general working capital purposes. The debt settlement and the offering are subject to approval of the Canadian Securities Exchange. Finders' fees will be payable in accordance with applicable securities laws and the policies of the CSE. All securities issued in connection with the debt settlement and the offering will be subject to a statutory hold period expiring four months and one day after closing of the debt settlement or offering, as applicable. Insiders may participate in the debt settlement and the offering. Any participation by insiders in the debt settlement and the offering will constitute a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. We seek Safe Harbor.