Alta Vista Ventures Ltd. Signs LOI to Acquire High Eye Aerial Imaging Inc.
06.07.2016 | FSCwire
Vancouver - Alta Vista Ventures Ltd. (AVV-CSE) announces the signing of a Letter of Intent to purchase a 100% interest in High Eye Aerial Imaging Inc. High Eye is a leader in unmanned aerial vehicle (‘UAV’) surveying and is the only company in Ontario to offer both multi rotor and fixed wing UAVs to their clients. High Eye core business is providing two dimensional and three dimensional ortho-mosaic images, mapping of remote sites, aerial surveys, volumetric calculations, digital elevation modeling, aerial inspections of areas that are difficult to access, as well as environmental assessment & monitoring images. High Eye’s key clients are in the mining, construction, industrial, agricultural, and environmental sectors.
Alta Vista has agreed to acquire High Eye for 2,200,000 shares of Alta Vista and $200,000 to be paid in two payments over six months. The companies have agreed to complete the required due diligence and prepare the definitive agreement for signing within 60 days.
“I am excited about this deal with Alta Vista as it will allow us to grow our operations in conjunction with Alta Vista’s aggressive expansion plans”, stated Murray Hunt, president of High Eye Aerial Imaging.
About the Unmanned Aerial Vehicle sector:
The UAV market is rapidly diversifying with new applications being introduced at a regular pace. The industry has expanded to include environmental management, crisis management, agriculture, policing and crowd monitoring, civil engineering, pollution monitoring, fisheries protection, disaster management, telecommunications maintenance, oil and gas exploration, mineral exploration, mine safety, geophysical surveys and mapping applications.
The UAV sector is quickly becoming one of the most dynamic sectors in the aerospace industry. According to a survey by marketsandmarkets.com in October of 2015 “the global Unmanned Aerial Vehicle (UAV) market is valued at US$ 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 High Eye Aerial Imaging Inc.:
High Eye is a leader in UAV surveying and is the only company in Ontario to offer both multi rotor and fixed wing UAV’s. All of High Eye’s operations are conducted within the requirements of the CARS and Transport Canada Special Flight Operations Certifications.
All High Eye personnel involved in flight operations hold the following qualifications:
- Aeronautical training and certification to Transport Canada standards
- Holds either a Pilot permit issued by Transport Canada, or a Civil and Commercial UAV Training Certificate, issued by CCUVS
- Holds a “Restricted Operator Aeronautical” Radio Licence (ROC-A) issued by Industry Canada
For more information on High Eye Aerial Imaging please visit their website at www.higheye.ca.
Corporate Update:
The Company would also like to announce that Jason Springett has replaced Don Shaxon as President of Alta Vista Ventures.
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.