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Alta Vista to acquire UAV manufacturer

Alta VistaVentures Ltd. said July 11 that it has signed a letter of intent tofully acquire Aeromao Inc., a manufacturer of unmanned aerial vehicles used forsurvey and mapping purposes, for C$1.4 million and 2.2 million shares.

The two companies agreed to complete due diligence andprepare a definitive agreement for signing within 90 days.

Alta Vista also signed a letter of intent to drone services companyHigh Eye Aerial Imaging Inc. earlier this month.