RDARS Announces New Manufacturing Facility in Pickering, Ontario
- RDARS Begins Production of Eagle Eye and Eagle Nest in Canada
TORONTO, Sept. 13, 2022 /CNW/ - RDARS Inc. ("RDARS" or the "Company") (CSE: RDRS), an autonomous robotics and drone technology company developing advanced autonomous drone and robotic systems for alarm system augmentation and surveillance, is pleased to announce that it has opened a manufacturing facility in Pickering, Ontario, for the production of its Eagle Eye and Eagle Nest products. This achievement is another commitment by the Company to produce its products in Canada. "We find that the highly skilled technology labour pool that is required for this advanced manufacturing process is available in Canada, and we are proud of this step we are taking. To be able to say made in Canada is an honour, and we believe that the stability of Canada, without all the risks of the geopolitical turmoil and supply chain disruptions, is important for the Company at this stage of its evolution" said Charles Zwebner, CEO and Director of the Company. Both products are part of the Eagle Watch Platform and underscores the Company's commitment to bringing its advanced drone, artificial intelligent, and robotic technologies to market in very short order.
This significant milestone is another critical piece of the Company's continued fast growth. "The opening of this new facility, with its staff of Canadian employees, is a most important phase of our development process. As disclosed in the Company's final long-form prospectus dated August 26, 2022, available under the Company's profile on SEDAR at www.sedar.com, the Company will be immediately producing 20 systems which will be imminently made available for deployment into selected locations for testing purposes to achieve certifications for Beyond Visual Line of Sight (BVLOS) flight missions with the Federal Aviation Administration (FAA) and Transport Canada.
Canada is a major player in the aerospace and defense markets, and RDARS is poised to contribute to this industry, developing advanced cutting-edge technology systems. The Company's flagship product, the Eagle Watch Platform, is comprised of Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software.
RDARS is a disruptive technology that is redefining the security industry's approach to protecting properties, by introducing protection with autonomous artificial intelligent systems that allow for real time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate downstream transmissions to the public safety agencies. RDARS has the ability upon a breach of a security in real time to receive, analyze, and downstream the data and inform the public safety agencies who the perpetrators are before they even get to the property.
Eagle Watch is comprised of a drone, a drone station, and indoor robotic system called Eagle Rover and a software application called Eagle Watch, which acts as a command-and-control environment to manage, maintain and control all remote systems around the globe. The Eagle Watch Platform represents a departure from the current commercial drone systems, as it was designed specifically for automated alarm response and provides a high degree of situational awareness for a fraction of the current cost of any competing technology. Enterprise and government end users can rely on Eagle Watch to provide immediate alarm response, on-demand patrols, scheduled patrols and archived video for later analysis or historical requirements.
Founded in 2019, RDARS is an OEM manufacturer of the Eagle Watch Platform. Its autonomous robotic systems are known for providing situational awareness in a cost effective and reliable manner. The Company's mission is to improve alarm response and situational awareness, obtain approvals from federal regulatory agencies for beyond visual line of sight operations. RDARS is currently developing its technology for enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security. For more information about RDARS, visit its website at www.rdars.com or its profile page on SEDAR at www.sedar.com.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: RDARS opening a manufacturing facility in Pickering, Ontario, for the production of its Eagle Eye and Eagle Nest products; RDARS bringing its advanced drone, artificial intelligent, and robotic technologies to market in very short order; RDARS immediately producing 20 systems which will be imminently made available for deployment and testing; the Company being poised to contribute to the aerospace and defense markets; the Company redefining the security industry's approach to protecting properties; the Company's business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects; the development of the Company's business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; expectations with respect to economic, business, regulatory and/or competitive factors related to the Company or the security industry generally; the impact of the COVID-19 pandemic on the Company's current and future operations; the market for the Company's current and proposed product offerings, as well as the Company's ability to capture market share; the Company's strategic investments and capital expenditures, and related benefits; the distribution methods expected to be used by the Company to deliver its product offerings; the competitive landscape within which the Company operates and the Company's market share or reach; the performance of the Company's business and the operations and activities of the Company; and the Company's ability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: that RDARS will have the ability to successfully manufacture its Eagle Eye and Eagle Nest products in the Pickering, Ontario facility; the Company's financial condition and development plans do not change as a result of unforeseen events; there will continue to be a demand, and market opportunity, for the Company's product offerings; current and future economic conditions will neither affect the business and operations of RDARS nor the Company's ability to capitalize on anticipated business opportunities; current and future members of management will abide by the Company's business objectives and strategies from time to time established by the Company; the Company will retain and supplement its board of directors and management, or otherwise engage consultants and advisors having knowledge of the industries (or segments thereof) within which the Company may from time to time participate; the Company will have sufficient working capital and the ability to obtain the financing required in order to develop and continue its business and operations; the Company will continue to attract, develop, motivate and retain highly qualified and skilled consultants and/or employees, as the case may be; no adverse changes will be made to the regulatory framework governing beyond visual line of sight operations, taxes and all other applicable matters in the jurisdictions in which the Company conducts business and any other jurisdiction in which the Company may conduct business in the future; the Company will be able to generate cash flow from operations, including, where applicable, distribution and sale of its products; the Company will be able to execute on its business strategy as anticipated; the Company will be able to meet the requirements necessary to obtain and/or maintain authorizations required to conduct the business; general economic, financial, market, regulatory, and political conditions, including the impact of the COVID-19 pandemic, will not negatively affect the Company or its business; the Company will be able to successfully compete in the security industry; prices offered by competitors will not decline materially; the Company will be able to effectively manage anticipated and unanticipated costs; the Company will be able to conduct its operations in a safe, efficient and effective manner; and general market conditions will be favourable with respect to the Company's future plans and goals.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the security industry in general; the inability of RDARS to obtain requisite approvals; the Company's inability to attract and retain qualified members of management to grow the Company's business and its operations; unanticipated changes in economic and market conditions (including changes resulting from the COVID-19 pandemic) or in applicable laws; the Company's inability to secure or maintain required authorizations necessary to conduct the business and operations and meet its targets; and the Company's inability to effectively manage unanticipated costs and expenses, including costs and expenses.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
SOURCE RDARS INC.
Charles Zwebner, Chief Executive Officer, RDARS Inc., [email protected]
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