Delta Drone International Limited (ASX:DLT) agreed to acquire a 60% stake in Arvista Pty Ltd for AUD 0.96 million on August 13, 2021. Under the terms, Delta Drone International Limited has a Call Option to acquire the remaining 40% of Arvista in the future for AUD 3 million in cash out of DLT’s existing cash reserves, payable at completion of the initial transaction, 9,600,000 new shares in DLT, to be issued at Completion. These shares will be escrowed for a period of 24 months post completion, AUD 0.276 million in cash out of DLT’s existing cash reserves, to be paid within one month after DLT releases its FY21 Annual Report to the ASX, If prior to the Second Payment, DLT conducts an equity capital raising under which it raises at least AUD 1.5 million via the issue of DLT shares at a price that is less than AUD 0.04 per shares , AUD 0.384 million worth of DLT shares at the New Capital Raising Price minus the number of shares already issued to the Sellers at Completion. The conditions precedent to the Initial Transaction are as follows, No material adverse effects occurring in relation to Arvista, its assets or the Initial Transaction, DLT’s due diligence in relation to Arvista, Key employee agreements being fully executed, Release of all encumbrances in relation to Arvista and its assets; and Settlement of loans to, and termination of certain agreements with, Entech Pty. The acquisition of 60% of the shares in Arvista is expected to be completed within 30 days after the fulfillment of terms and conditions. Delta Drone International Limited (ASX:DLT) completed the acquisition of 60% stake in Arvista Pty Ltd on September 1, 2021.