TORONTO, Sept. 10, 2019 /CNW/ - Drone Delivery Canada
Corp. (TSXV: FLT, OTC: TAKOF) (the "Company" or
"DDC") is pleased to announce that with the assistance of
its sales agent Air Canada Cargo (TSX: AC), it has entered
into a commercial agreement dated September
9, 2019 (the "Agreement") with Vision Profile
Extrusions Limited ("Vision"), a prominent manufacturing
company, to deploy a drone delivery platform for the use of Vision
between its properties in Vaughan,
Ontario.
Pursuant to the terms of the Agreement, DDC will deploy its
DroneSpot takeoff and landing zones as well as additional drone
flight infrastructure on the Vision sites, and deploy its Sparrow
cargo drone, with a capacity of up to 10lbs, on defined flight
routes between Vision's properties in Vaughan, Ontario, which routes have already
been approved by Transport Canada. Flights will be remotely
monitored by DDC from its new commercial operations centre also
located in Vaughan, Ontario. DDC
expects to begin providing drone delivery services under the
Agreement in Q4, after deployment of the client site infrastructure
is completed.
In consideration for the drone delivery services platform that
DDC will provide to Vision, Vision will pay DDC a monthly fee for
each drone route. Vision will also allow DDC to showcase its
services platform on the Vision sites so that DDC and Air Canada
Cargo may promote drone delivery services. The services will be
provided by DDC for an initial term of twelve months, with
additional successive one year terms to follow unless the Agreement
is formally terminated.
"We are pleased to be working with Vision Profile Extrusions
Limited and our sales agent Air Canada Cargo to roll out our first
paid commercial project using our proven Sparrow drone, patented
FLYTE system, and newly built commercial operations centre," said
Michael Zahra, President & CEO
of DDC. "Our focus is to commercialize our industry-leading
solution. We are pleased to see the first green shoots of our
plans realized and drive revenue for our shareholders. We have a
robust funnel of opportunities and we expect this will be the first
of many to come globally. I would like to thank our employees and
partners whose dedication has allowed us to achieve this first,
albeit important milestone".
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 with Nasdaq International Designation under the symbol TAKOF
and on the Frankfurt exchange in
Germany under the symbol
A2AMGZ.
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