Valmie Resources Inc (OTCBB:VMRI) took a plunge yesterday after it announced intentions of going ahead with potential acquisitions. The company released a press note stating that it has shortlisted a handful of companies that match its criteria and are seen as potential acquisitions. Vale further added that it has entered into the evaluation process and is in discussions with the selected companies.
The statement underscores Valmie Resources Inc (OTCBB:VMRI)’s efforts to identify acquisition opportunities that have value-creating synergies and are a strategic fit with the company’s core business of unmanned aerial vehicle (UAV) technology. The company’s announcement of looking forward to potential acquisitions came after it participated at the Unmanned Systems 2015 conference. The conference organized by the Association for Unmanned Vehicle Systems International (AUVSI) witnessed attendance from a number of emerging companies.
It was at the conference that Valmie Resources Inc (OTCBB:VMRI) came across such companies, which have contributed immensely for the growth of the aerial robotics industry through innovations, technologies or processes. The company’s President and CEO, Gerald B. Hammack stated that the company is looking forward to expanding through inorganic growth by targeting potential companies that will help the company to capture commercial drone sector market share. Hammack continued that such acquisitions will boost the company’s portfolio and help it identify the companies with better technology, which in turn, will be developed along the process of building shareholder value.
The company’s target of more acquisitions came after it recently bought Vertitek Inc, a leading company in the UAV sector. Currently, Valmie and Vertitek are jointly developing the V-1 drone, which is aimed to serve an international crop monitoring client as a part of the agricultural platform. The stock of Valmie Resources Inc (OTCBB:VMRI) was down by nearly 12% to $0.920 during the last trading session as a total of 120,372 shares changed hands.