PARAZERO LIMITED (PRZ)

name changed to Delta Drone International Limited

The offer under its 10 November 2020 prospectus has now closed following strong support from both domestic and international investors. The company has raised the maximum amount under the offer of $5,000,000 following demand in excess of 15% more than the maximum amount sought. The company will now proceed with completion of the offer and the proposed acquisition of 100% of the share capital in Delta Drone South Africa from Delta Drone SA, as well as the finalisation of the formal relisting process with ASX.

The closing date for offers under its 10 November 2020 prospectus has been extended until 4:00pm (AEDT) on 9 December 2020.

The company releases the results of its extraordinary general meeting.

The company issues a prospectus for an offer of up to 125,000,000 fully paid ordinary shares at an issue price of $0.04 per share to raise up to $5.0 million before costs.

The company releases a Letter to Holders & Proxy Form for EGM on 3 December 2020.

The company will hold an EGM at 4:00pm (Melbourne time) on 3 December 2020 by virtual meeting facility.

The company lodges its Quarterly Activity Report & Appendix 4C.

The company issues a notice of Proposed issue of Securities - PRZ.

ParaZero Limited has agreed to acquire 100% of the issued share capital of Delta Drone South Africa. DDSA is a leading international player in the field of drones for professional and commercial use, with revenue in CY19 of approximately US$2.12m. The merged entity plans to expand DDSA's "drones-as-a-service" business model initially into Australia and then grow globally. The combination of DDSA's operating experience and ParaZero's world leading safety technology will provide the merged entity with a significant competitive advantage. The merged entity will have a pro forma combined revenue in CY19 of approximately US$4.13m and historical revenue growth exceeding 40%4 per annum. ParaZero will seek ASX relisting in conjunction with the merger and a proposed capital raising of between A$3.5m and A$5.0m at an issue price of $0.04 cents per share. A notice of meeting will be issued to shareholders in the coming weeks for an extraordinary general meeting to approve the transactions. To reflect the change in focus ParaZero proposes to change its name to Delta Drone International Limited.

The company has cancelled the following performance options: Class A Performance Options Expiring 13 June 2023 @ $0.20: 16,085,363; Class B Performance Options Expiring 13 June 2023 @ $0.20: 11,370,724; Class C Performance Options Expiring 13 June 2023 @ $0.20: 11,770,724.

The company lodges its Appendix 4D and Half Year Report.

The company releases a notice of Proposed issue of Securities - PRZ.

The company releases an Appendix 2A - Conversion of Convertible Notes.

The company lodges its Quarterly Activity Report & Appendix 4C - June 2020.

The company releases its Constitution.

The company releases the Results of its Annual General Meeting.

PRZ secures 100 FAA waivers for drones fitted with its SafeAir parachute system. Transport Canada authorises expanded operations for companies using PRZ systems. Additional civil aviation authorisations for expanded operations continue to open new revenue streams in multibillion dollar international drone market. PRZ listed in top 100 drone companies to watch by major U.S. publication. PRZ launches new SafeAir Pro product line.

The company releases a notice of Proposed issue of Securities - PRZ.

The company's AGM will be held at 4.00pm (AEST) on Tuesday, 28 July 2020 by Virtual Meeting Facility.

The company releases an Appendix 2A - Escrow Release.

The following securities are due to be released from escrow on 22 June 2020: Fully paid ordinary shares - 35,300,063; Options @ $0.30 expiring 13 June 2021 - 4,000,000; Options @ $0.0027 expiring 13 June 2023 - 6,387,692; Class A Performance Options @ $0.20 expiring 13 June 2023 - 14,000,000; Class B Performance Options @ $0.20 expiring 13 June 2023 - 8,000,000; Class C Performance Options @ $0.20 expiring 13 June 2023 - 8,000,000.

The company's AGM will be held on Tuesday, 28 July 2020. The closing date for receipt of nominations from persons wishing to be considered for election as a director is Monday, 15 June 2020. Any nominations must be received at the Company's registered office no later than 5:00pm (Melbourne time) on Monday, 15 June 2020.

The company provides disclosures required by ASX Listing Rule 4.7C.2 regarding a comparison of its actual expenditure to 31 March 2020 since listing against the "use of funds" statement in its replacement prospectus dated 30 April 2018.

The company lodges its Quarterly Activity Report & Appendix 4C.

The company releases a notice of Proposed issue of Securities - PRZ.

The company lodges its Annual Report to Shareholders.

The company releases a notice of Proposed issue of Securities - PRZ.

The company lodges its Annual Report.

The company releases an Appendix 4G.

The previous announcement stated that the issue of the securities on conversion of the convertible notes was subject to shareholder approval by way of a general meeting, which was incorrect. The company has sufficient capacity of LR 7.1 and it should have been noted that the conversion of convertible notes was within this capacity.

The company releases a notice of Proposed issue of Securities - PRZ.

The securities of ParaZero Limited will remain suspended from quotation, following the announcement that it has entered into an agreement proposing to acquire Delta Drone South Africa. PRZ's securities will remain suspended until ASX is satisfied that all relevant information required under Guidance Note 12: Change to Activities has been announced to the market. ASX has also exercised its discretions under Listing Rule 11.1.2 to require the Proposed Acquisition to be conditional on approval by PRZ's ordinary security holders and under Listing Rule 11.1.3 to require PRZ to recomply with Chapters 1 and 2 of the Listing Rules.

Following completion of the company's strategic review, the company is pleased to announcement that it has executed a letter of intent wiht Delta Drone South Africa to acquire the business of Delta, a company incorporated in South Africa. This LOI will be the baseline for all future common discussions until the two parties decide to enter into a binding term-sheet that will set the final and detailed terms and conditions for this transaction.

The company lodges its Appendix 4E Preliminary Final Report.

The securities of ParaZero Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PRZ, pending the release of an announcement regarding a possible acquisition transaction.

The suspension of trading in the securities of Parazero Limited will be lifted immediately, following the release by PRZ of an announcement regarding a capital raising.

The company completes institutional and sophisticated investor placement of AU$642k. The funds will be used for product inventory and general working capital.

New orders received from drone manufacturers to the value of US$235,000. More than 35 waivers signed for customers seeking to retrofit "flight over people" products - SafeAirPhantom and SafeAir Mavic.

The company requests that trading in its securities be suspended until after the expected announcement is made regarding the capital raising or until the market opens on 24 October 2019, whichever is earlier.

The securities of ParaZero Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PRZ, pending the release of an announcement regarding a capital raising.

listed entity carried for record purposes only