Alta Vista Ventures Ltd. (OTCPK:YRLL.F) entered into a binding letter of intent to acquire UAV Division of Pioneer Exploration Consultants Ltd for CAD 0.93 million on July 19, 2016. Alta Vista Ventures Ltd. (OTCPK:YRLL.F) entered into a definitive agreement to acquire UAV Division of Pioneer Exploration Consultants Ltd for CAD 0.93 million on November 15, 2016. Alta Vista agreed to acquire the UAV division of Pioneer for 9 million shares of Alta Vista and CAD 0.5 million to be paid in three installments over 12 months from closing. Once the final installment is made, Alta Vista will grant a 10% royalty on the profits of the Pioneer division for a period of five years. The purchase includes proprietary equipment, trademarks, contract staff, client list, contacts, and current business partnerships in the US with Lidar/UAV manufacturers. Michael Burns, President and Chief Executive Officer of Pioneer will continue to manage the business. Upon closing of the transaction, Michael Burns will join Alta Vista’s Board of Directors. The deal is subject to Alta Vista Ventures completing a financing, signing of definitive agreement and completion of due diligence by Alta Vista Ventures. As of October 7, 2016, Alta Vista Ventures satisfactorily completed its due diligence of Pioneer Exploration Consulting. Alta Vista Ventures Ltd. (OTCPK:YRLL.F) completed the acquisition of UAV Division of Pioneer Exploration Consultants Ltd on January 3, 2017.