TORONTO, March 4, 2020 /CNW/ - Drone Delivery Canada Corp.
(TSXV: FLT; OTC: TAKOF; Frankfurt: ABB.F) (the "Company" or
"DDC") is pleased to announce, further to its press release dated
October 23, 2019, that implementation
of the DSV Air & Sea Inc. Canada ("DSV") project is well underway
and is expected to be operational March
2020.
On October 23, 2019 DDC announced
that it had entered into a commercial agreement with DSV (the
"Agreement"), through its sales agent Air Canada (TSX: AC), to
provide its drone delivery platform for the use of DSV commencing
at DSV's head office in Milton,
Ontario. Infrastructure equipment (including
DroneSpotTM depots, Battery Management Systems, and
Sparrow drones) is currently being installed and numerous
successful test flights have already been conducted. The Company
expects to begin full operational and revenue-generating flights
pursuant to the terms of the Agreement in March 2020. After the initial on-premises route
is operational, the Company expects multiple subsequent
inbound/outbound routes for DSV's customers with time-sensitive
cargo.
"This will be a major milestone for the Company - our first
operational, commercialized customer and first revenue. DSV is
a global leader in the logistics industry and a perfect fit as a
long-term, scalable customer for us," said Michael Zahra, President & CEO of DDC. "DDC
continues to lead the drone logistics industry and we have a very
strong funnel of global opportunities and expect to see continued
customer announcements in 2020 for deployment & revenue
generation this year."
Customers pay DDC a monthly fee for each drone route deployed,
pursuant to the terms of their respective agreements.
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 or
ABB.F.
Read more at: www.DroneDeliveryCanada.com or on DDC's social
media.
About DSV
DSV – Global Transport and Logistics
provides and manages supply chain solutions for thousands of
companies every day – from the small family run business to the
large global corporation. Our reach is global, yet our presence is
local and close to our customers. 60,000 employees in more than 90
countries work passionately to deliver great customer experiences
and high-quality services. Read more at: www.ca.dsv.com
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