04:46 PM EDT, 08/23/2024 (MT Newswires) -- Draganfly ( DPRO ) , a drone solutions and systems developer, announced Friday its board has approved the consolidation of its issued and outstanding common shares on the basis of one post-consolidated Common Share for every 25 pre-consolidated Common Shares for Sept. 3, 2024.

After the Consolidation, the Common Shares will be reduced from near 87.16 million to near 3.48 million Common Shares. The company's name and stock symbols will remain unchanged.

Dragonfly stock was down 5.8% in US after hours in the States.