SANTURCE, Puerto Rico, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (OTC: TFVR), (OTC: TFVRD) a leading provider of distributed data storage, analytics and services for the drone industry, today announced that the Financial Industry Regulatory Authority, Inc. (“FINRA”) has approved the Company’s request to change its OTC ticker symbol to “RCAT.” TFVR has changed to TFVRD for 20 business days including the effective date August 1, 2019. After 20 business days the new symbol will be RCAT. In addition, on August 1, 2019, the company effected a 1 for 1,200 reverse split of its common stock. Going forward, the company’s new CUSIP number will be 75644T 100.

“Trading under the new OTC ticker ‘RCAT’ will complete our corporate transition to Red Cat Holdings, Inc. With our public company presence now fully aligned to our corporate brand, we are excited to continue to build the Red Cat footprint across the United States,” said Jeff Thompson, CEO.

Red Cat was founded in March 2016 to address a growing need in the rapidly evolving drone ecosystem for a simple and secure data storage and analytics solution. Red Cat developed the industry’s first black box drone flight recorder and distributed system with security and encryption that regulators and insurance companies can trust. The company also provides Blockchain-Based Distributed Storage where stored data (GPS maps and logs; video and photos; telemetry logs) is secured and encrypted, enabling compliant operations and privacy for pilot's data.

About Red Cat
Red Cat is a leading provider of secure blockchain-based distributed storage, analytics and SaaS for the drone industry. Through its innovative products and leadership, Red Cat provides solutions for regulators to track and review flight data, insurance companies to insure drones, and pilots to become compliant with regulations. Red Cat's success is driven by a commitment to deliver unrivaled innovation that makes drones trackable, accountable and the sky a safer place. Red Cat is headquartered in San Juan, Puerto Rico. The company’s ISIN number is US75644T100. For more information, visit www.redcatpropware.com. 

Forward-Looking Statements 
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

Investor Relations Contact Information:
Red Cat Inc.
Cobian's Plaza, 
1607 Avenida Juan Ponce de León, 
San Juan, PR 00909
Investors@redcat.red

PR Contact Information:
Todd Barrish
Indicate Media
todd@indicatemedia.com
917-861-0089