TORONTO, Nov. 9, 2020 /CNW/ - Drone Delivery
Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ or
ABB.F) (the "Company" or "DDC") is pleased to
announce that it has bolstered its board of directors (the
"Board"), welcoming the additions of Ms. Debbie Fischer and Mr. Larry Taylor.
Ms. Fischer joins the Board and will assume the role of Chair of
the Company's newly established Governance and Human Resources
Committee. Ms. Fischer is a seasoned executive with deep
business experience in healthcare, government, human resources and
consulting, having worked with such organizations as Cap Gemini
Ernst & Young, KPMG, Mount Sinai Hospital and the Ontario
Ministry of Health and Long Term Care, as well as having
served as Director or Chair on several boards. She has a B.Sc.
in Neurobiology, a Master's degree in Health Administration, a CHRE
designation, and an ICD.d designation from the Institute of
Corporate Directors.
Mr. Taylor joins the Board and will assume the role of Chair of
the Company's Audit Committee. Mr. Taylor is also a seasoned
executive with extensive business and board experience in
consulting, financial services and technology, having worked with
such organizations as Cap Gemini Ernst & Young, Travelex,
Dollar Financial Group, and numerous publicly-traded technology
companies as Director or Chair. He has attended business and
leadership programs at Northwestern
University and Harvard University. Mr. Taylor has
Certified Management Consultant, Certified Professional Accountant
and Certified Management Accountant designations.
The Company is also pleased to announce that Mr. Steve Bogie has joined the Company's management
team as Vice President – Flight Operations and Technology. Mr.
Bogie will oversee Flight Operations, Flight Safety, Canada & International Regulatory
Relations, the Company's Operations Control Centre, and
IT. Mr. Bogie is a seasoned executive with decades of
experience in the aviation industry most recently with Air Canada
and Air Canada Jazz. He has experience in systems operations
control, customer service, business strategy & innovation and
operations information systems. He has a Bachelor's degree in
Business Administration & Economics from Kwantlen Polytechnic
University and M.B.A.-level studies with the Edinburgh School of
Business. He has his Six Sigma Green Belt and Private Pilot License
Ground School.
With the addition of Mr. Bogie to the Company, Mr. Paul Di Benedetto will transition into a
non-executive role as Engineering Strategist with the Company
focusing on R&D Engineering.
Additionally, the Company is pleased to announce that it has
also expanded its Advisory Board, with the addition of Mr.
Nico Buchholz and Mr. Robert Montemarano.
Mr. Buchholz is an experienced executive with a background in
civil and military aviation, aircraft leasing, aircraft fleet
management, procurement, strategic development and technical
operations, having worked with such organizations as Airbus,
Rolls-Royce, Lufthansa, Bombardier, Delta Airlines, Southwest Air
Cargo, and German Operating Aircraft Leasing. He received
university education at the Technical University of
Berlin in Air & Space Technology Engineering as
well as Air Transport Management at Cranfield
University (M.Sc.) and has taken management programs at
the London Business School and
Columbia University.
Mr. Montemarano has resigned from the Company's Board and
accepted a position on the Company's Advisory Board. Mr.
Montemarano is active in corporate finance in various industries
such as mining, technology and real estate, and served as a
director of several publicly traded companies.
"We are very pleased to make such strong additions to our board
and management teams as the business matures and evolves.
Debbie, Larry, Nico and Steve bring a considerable amount of
experience that will benefit the Company as we continue to focus on
commercial growth in Canada and
internationally and add technological enhancements to our solution
with the Robin XL and Condor. We thank Rob for his
contributions to the board of directors and look forward to
continuing to work with him in his new role on the Advisory Board,"
said Michael Zahra, President &
CEO of DDC.
The Company also wishes to provide an update on its marketing
and awareness campaigns. Due to the COVID-19 pandemic, previously
planned and budgeted trade shows, conferences, marketing and
awareness-raising campaigns have unavoidably been delayed or
cancelled until travel and person-to-person contact becomes safer.
However, the Company is pleased to announce that, in lieu of these
previously planned initiatives, it engaged the following services
in order to continue the Company's marketing and awareness efforts
using alternative methods during this period in which traditional
conferences, trade shows and conventions are not able to occur:
The Company engaged Native Ads, Inc. to provide digital media
services, vendor management, marketing and data analytics services
to the Company, and the Company budgeted USD$300,000 for such services over an expected
twelve-month period. Native Ads is a full-service advertising
agency, that owns and operates a proprietary ad exchange with over
80 integrated SSPs (supply side platforms) resulting in access to
3-7 billion daily North American ad impressions. Neither Native Ads
nor any of its directors and officers own any securities of the
Company.
The Company engaged Venture North Capital Inc., a full-service
capital markets consulting firm headquartered in Toronto, to provide marketing, investor
relations and business consulting services to the Company on a
month-to-month basis unless earlier terminated by either
party. In consideration for such services, the Company pays a
monthly retainer fee of CAD$7,000
plus applicable taxes per month, and previously granted an
aggregate of 625,000 stock options to purchase common shares of the
Company (of which 425,000 stock options are exercisable at a price
of $0.50 per share expiring on
July 20, 2022 and 200,000 stock
options are exercisable at a price of $1.00 per share expiring on August 30, 2024).
The Company also intends on engaging Hybrid Financial Ltd.
to provide investor relations services to the Company for an
initial six-month period. Hybrid would be engaged to increase
market awareness of the Company and its products and services
within the investment community. In consideration for such
services, the Company has agreed to pay Hybrid a monthly fee of
CAD$50,000 plus applicable taxes
during the initial term. Hybrid is a sales and distribution company
that actively connects issuers to the investment community across
North America. Using a data driven
approach, Hybrid provides its clients with comprehensive coverage
of both American and Canadian markets. Hybrid has offices in
Toronto and Montreal, and neither Hybrid nor any of its
directors and officers own any securities of the Company.
The Company announces that it has granted an aggregate of
740,000 stock options to purchase common shares of the Company,
exercisable at a price of $0.70 per
share for a period of five years to certain directors, officers,
consultants and employees. The options are subject to a
vesting schedule and will be released 1/3 every six months from the
date of grant.
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