Red Cat Holdings Inc. (RCAT) Announces $1 Million Drone Purchase by US Border Patrol



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Red Cat Holdings, Inc. (Nasdaq: RCAT) today announced that its subsidiary Teal Blue Drones was awarded a $1,046,806 contract by US Customs and Border Protection to supply Teal’s high-performance Golden Eagle drones to the US Border Patrol.

The award is part of a package purchase agreement (BPA) between U.S. Customs and Border Protection and five drone companies, announced in December 2021, that has an estimated total value of $90 million over a period of five years. All drones covered by the BPA are on the exclusive “Blue UAS” list of drones approved for purchase by the Department of Defense.

The drones will provide additional airborne reconnaissance, surveillance and tracking capability to improve situational awareness for commanders and field officers in areas without traditional nearby surveillance systems or manned air support available.

“As the market leader in military-grade drones, and especially night-specific drones, we look forward to providing Teal’s Golden Eagle product to government personnel charged with protecting the American people and protecting our borders,” said Jeff, CEO of Red Cat. Thompson. “Because Red Cat has invested in a large, new manufacturing facility for Teal in Salt Lake City, we are confident in our ability to meet the on-time delivery of this large order, as well as future orders we anticipate under of this BPA with US Customs and Border Protection.”

The base purchase contract of over $1 million awarded to Red Cat covers the supply of Teal’s Golden Eagle drone, along with batteries and chargers, propellers, gimbal-mounted cameras, carrying cases and operator training sessions, including “train the trainer” sessions.

About Red Cat Holdings, Inc.

Red Cat provides drone-based products, services and solutions through its four subsidiaries and serves the enterprise, military and consumer markets. Teal Drones is a leader in unmanned aircraft systems (UAS), and its Golden Eagle is one of five drones approved by the Department of Defense for reconnaissance, public safety and inspection applications. Skyspersonic’s technology enables drones to perform inspection services in locations where GPS is unavailable, while recording and transmitting data even when operating thousands of miles away. Fat Shark is a leading provider of First Person View (FPV) video goggles. Rotor Riot, LLC is a reseller of drones and FPV equipment, primarily aimed at the consumer market. Learn more about https://www.redcatholdings.com.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the current expectations of Red Cat Holdings, Inc. and are subject to uncertainties, inherent risks and assumptions that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These and other risks and uncertainties are described below. in detail in the section entitled “Risk Factors” of the final prospectus relating to the public fre filed with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no obligation to update such information except as required by applicable law.

contacts

NEWS MEDIA:Anthony PriwerDalton AgencyPhone: (615) 515-4891Email: [email protected]

INVESTORS: CORE IR Phone: (516) 222-2560 Email: [email protected]Website: https://www.redcatholdings.com

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Source: Red Cat Holdings, Inc.