TORONTO, Dec. 10, 2020 /CNW/ - Drone Delivery Canada
Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ)
(Frankfurt: ABB.F) (the "Company" or "DDC") is
pleased to announce that, with the assistance of its sales agent
Air Canada (TSX: AC), it has executed a non-binding Letter of
Intent ("LOI"), effective December
9th, 2020, with Overseas Express Consolidators
Inc. ("OEC").
Under the terms of the LOI, the parties are cooperating to work
towards a binding definitive agreement (the "Agreement").
The Agreement will set out the terms and conditions respecting the
Company's drone delivery solution using DDC's Sparrow, Robin XL and
Condor drones and the Company's patented and proprietary FLYTE
system, in a Software as a Service (SaaS) model. DDC will provide
implementation & commissioning of the systems, training,
technical support, ongoing managed services and remote monitoring
from its Operations Control Centre in Vaughan, Ontario. Anticipated projects on
which the parties are focusing are routes for: First Nations
communities across Canada,
Canadian ports including shore-to-ship applications, and
transactional routes connecting various airports in Canada, with potential subsequent expansion to
other applications. All operations will be conducted in accordance
with the Canadian Aviation Regulations and Transport Canada flight
authorizations.
"OEC was the main funder of our currently operating GlobalMedic
/ Beausoleil First Nation project and we are pleased that they see
the value of drone logistics and they are now looking for
subsequent projects with DDC. Market response to our solution
has been very favourable in Canada
and internationally, and we are pleased with our ongoing
momentum. OEC's vision for a very broad range of drone
delivery applications fits perfectly with the wide-ranging
capabilities and use cases that the DDC solution can deliver," said
Michael Zahra, President & CEO
of Drone Delivery Canada.
"The OEC Group continues to explore opportunities to expand
drone capabilities to help essential goods reach remote and
challenging destinations. Our initiative with the Beausoleil First
Nation can be replicated to other remote communities across
northern Canada. We also envision
other exciting drone applications such as shore to ship and
offshore facilities that require emergency tools or medical
supplies. Drone technology is ideal to accelerate the transfer of
goods in these scenarios. We are just scratching the surface of
drone technology and how it will enhance our daily tasks. The
future is exciting," said Landon
Bibeau, Chief Marketing Officer, OEC Inc.
About Overseas Express Consolidators
Inc.
Founded in 1984, the OEC Group expanded
throughout Canada and emerged as a
global logistics provider in over 260 locations throughout
Asia, the Indian sub-continent,
Europe, the Middle East, Russia, Central and South America, Africa and Australia. Its highly-skilled professionals
arrange the most complex air and ocean shipments, door deliveries,
custom clearance, insurance, IT solutions, consulting, warehousing,
and distribution services. Using best-in-class carriers, it seeks
to accommodate any request, from a local delivery to major
logistical projects throughout the world.
About Drone Delivery Canada Corp.
Drone Delivery
Canada Corp. is a drone technology company focused on the design,
development, and implementation of its proprietary logistics
software platform, using drones. The Company's platform will be
used as a Software as a Service (SaaS) model for government and
corporate organizations globally.
Drone Delivery Canada Corp. is a publicly listed company trading
on the TSX.V Exchange under the symbol FLT, on the U.S. OTC Q B
market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F .
Read more about the Company at:
www.DroneDeliveryCanada.com or on DDC's social media:
https://www.linkedin.com/company/drone-delivery-canada
https://www.youtube.com/dronedeliverycanada
https://www.facebook.com/dronedeliverycanada
https://www.instagram.com/dronedeliverycanada
https://twitter.com/DroneDeliveryCa
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain
forward-looking information that involves substantial known and
unknown risks and uncertainties. This forward-looking information
is subject to numerous risks and uncertainties, certain of which
are beyond the control of the Company, including, but not limited
to, the impact of general economic conditions, industry conditions,
and dependence upon regulatory approvals (both in Canada and internationally). Readers are
cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward looking information. The parties
undertake no obligation to update forward-looking information
except as otherwise may be required by applicable securities
law.
SOURCE Drone Delivery Canada