July 20 2016
Toronto, Ontario – Greencastle Resources Ltd. (TSX-V: VGN) (“Greencastle” or the “Company”), is pleased to announce that the common shares of Greencastle subsidiary, Deveron UAS Corp. (“Deveron”) will commence trading today on the Canadian Securities Exchange under the ticker symbol DVR. Greencastle owns approximately 56% of Deveron.
Deveron UAS, is a full-service company providing farmers with the opportunity to increase yields and reduce costs through the use of sophisticated Unmanned Aerial Systems (“UAS” or “drones”), sensors, software and analytics. The service offering is targeted at farmers, agricultural retailers and independent agronomists and provides a strong value proposition through reduced costs and/or increased yields by optimizing input costs such as water, fertilizer and pesticides.
“David MacMillan and Norm Lamothe have very quickly built Deveron into Canada’s leading precision Ag UAS company.” stated Anthony Roodenburg, Greencastle CEO. “This is a rapidly expanding global sector that brings together unmanned systems, robotics, sophisticated software and sensors, ‘the internet of things’ and big data to improve global food production. We continue to support Deveron and the team and look forward to their future successes.”
Currently, Greencastle owns 8,631,005 common shares of Deveron. Greencastle has granted an incentive option to purchase up to 1,000,000 common shares of Deveron to David MacMillan, Deveron President and CEO at an exercise price of $0.30 and expiring on July 14, 2019.
For additional information, please visit www.greencastleresources.com or contact:
Anthony Roodenburg, CEO
416-367-4571 ext. 233