July 2, 2022

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Red Cat indications Letter of Intent to get Skypersonic Inc., the developer of a remote transoceanic piloting software program for the drone market

ORLANDO, Fla., Jan. 25, 2021 /PRNewswire/ — Pink Cat Holdings, Inc. (OTCQB: RCAT) (“Red Cat”), announced the signing of a letter of intent to receive Skypersonic Inc., a service provider of drone solutions and application answers. Skyloc is a stand-by itself, genuine time, program checking method which allows a drone to be operated from hundreds of miles absent from where it is becoming flown. Skycopter is a miniature drone built to monitor tricky to arrive at locations, and is enclosed in a gentle, tough cage to stay clear of injury to inspected spots and the drone.

“Skypersonic Inc. shares our enthusiasm and vision for how the to start with-person-view (FPV) use of drone technology can enable enterprises to full critical functions in an economical, harmless fashion,” mentioned Jeffrey Thompson, CEO of Crimson Cat. “A Skycopter geared up with Skyloc application can finish inspections in places that are confined, tough to get to, and inefficient to finish manually.”

“Skypersonic presently collaborates with multiple Automotive OEM (initial gear maker) shoppers and Industrial Electrical power Industries positioned in US, Brazil, Europe, Center East, and Asia. The transoceanic immediate-fly system has enabled our customers to complete actual-time inspections with pilots and inspectors positioned all over the entire world,” mentioned Giuseppe Santangelo, CEO of Skypersonic Inc. “Combining the software program methods presented by Sklyoc, and people remaining created in Dronebox by Pink Cat, could result in a leading software functioning system across the entire drone sector.”

The signing of a letter of intent does not represent a binding transaction and there are no assurances that the transaction will be consummated. Completion of the transaction is subject to owing diligence, planning of authorized documents and other ordinary closing problems.

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About Crimson Cat
Crimson Cat gives goods, products and services and alternatives to the drone industry by its a few wholly owned subsidiaries. Fats Shark Holdings is the primary company of Very first Particular person Watch (FPV) movie goggles to the drone sector. Rotor Riot, LLC is a leader in the sale of FPV drones and machines, mainly to the purchaser market via its digital storefront positioned at www.rotorriot.com. Rotor Riot enjoys high visibility in social media by its Fb page and its sponsorship of a professional drone racing team which has won many championships. Purple Cat Propware is creating a Software package-as-a-Option (“SaaS”) platform to offer drone flight knowledge analytics and storage, as well as diagnostic solutions and products and services.

About Skypersonic Inc.
Skypersonic Inc., is a supplier of drone solutions and program answers. Skycopter is a miniaturized caged drone for industrial inspections in confined spaces. Skyloc is a proprietary telemetry gateway with environmental checking and precise location monitoring in GPS-denied environments.

Risk-free Harbor
The info furnished in this push launch could contain forward-looking statements relating to long term gatherings or the potential financial general performance of the Company. Due to the fact these kinds of statements are subject to hazards and uncertainties, genuine outcomes may well vary materially from all those expressed or implied by this sort of ahead-wanting statements. Text these kinds of as “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and related expressions are meant to recognize forward-wanting statements. These ahead-seeking statements are based upon present-day expectations of the Company and include assumptions that could under no circumstances materialize or may possibly verify to be incorrect. Precise final results and the timing of functions could vary materially from these anticipated in these ahead-searching statements as a result of different challenges and uncertainties. In depth information with regards to factors that may perhaps bring about true effects to vary materially from the results expressed or implied by statements in this push release relating to the Company may be uncovered in the Company’s periodic filings with the Securities and Exchange Fee, which includes the aspects described in the sections entitled “Risk Factors”, copies of which may perhaps be attained from the SEC’s site at www.sec.gov. The events do not undertake any obligation to update ahead-hunting statements contained in this push launch.

Contact
Chad Kapper
Phone: ‪(818) 906-4701
E-mail: [email protected]
Web site: https://rotorriot.com

Investor Relations Make contact with
Dave Gentry, CEO
RedChip Organizations
(407) 491-4498
[email protected]

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Resource Crimson Cat Holdings, Inc.