Golden Star Enterprises Ltd (OTCMKTS:GSPT) said that it has received 100% of the licensing rights for making and distribution activities of North American Drones Enterprise Inc.’s branded product line of drone with the issuance of 38 million restricted common shares of the Company. It stated that the rights were acquired through affiliated parties.
North American Drones is in industry manufacturing and marketing drones to a broad range of potential customers for recreational and commercial use. The Unmanned Aircraft Vehicles are most commonly linked to military applications. Now, they are also in demand for rising civil applications. Recent advancements in technology and a simultaneous fall in production costs have altered the market for drones and the many uses they can offer.
As per a report by the AUVSI, the total domestic market is expected to cross more than $82 billion. It opens a significant market for Golden Star. The many uses include search and rescue operations, aerial surveying, inspecting power lines and pipelines, aerial video and photography, counting wildlife, delivery of supplies forest fire detection, surveillance, and list goes on. The several tasks carried out from the ground are either personnel intensive, time intensive, or, infrastructure intensive and can be easily achieved through the use of drones.
Golden Star stated that NAD prime objective is to offer drones that make it convenient for the everyday user to perform and enable businesses to offer services new to their industry. The core business can be classified into two main segments. The first segment is the customized sales of drones in the “Prosumer”, “Mini” and “commercial use” market divisions and second is the leasing of built drones to help the private sector in particular lines of work. The association with NAD opens a wide range of opportunities for Golden Star in growing market.