TORONTO, Nov. 12, 2020 /CNW/ - Drone Delivery Canada
Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ)
or (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 Letter of Intent ("LOI"),
with CSC DRONE AVIATION – a CSC Group Company, located in
India, effective November 12th, 2020.
Under the terms of the LOI, the parties shall cooperate and work
jointly with the local regulator (Directorate General of Civil
Aviation) and shall work together to identify and analyze market
opportunities in India for DDC's
Condor drone delivery solution with the intent to work towards a
definitive agreement for that market.
"We are pleased to be working with CSC Group towards an
agreement for DDC's Condor drone logistics solution in India.
With a population of 1.4 billion people(1), and the
world's 3rd largest GDP at USD$8.7 trillion(2), India is a massive logistics market, so there
are numerous potential applications or the Condor, from
first-mile / last-mile cargo delivery, to oil & gas, mining,
government, military, healthcare, humanitarian aid and
infrastructure inspection services. We are very encouraged by
the strong Canadian and international interest in the Condor as we
work towards its commercialization and the finalization of
testing," said Michael Zahra,
President & CEO of DDC.
"Diwali symbolizes victory, goodness, knowledge and prosperity,
so during the auspicious period of Diwali, we are honoured to
announce joining forces with Drone Delivery Canada to work towards
bringing their advanced drone delivery solution to the enormous
Indian market. Their solution, especially with the capabilities of
the Condor, addresses many commercially viable use cases from
commercial/industrial delivery applications to social benefit
applications like healthcare," said Mr. Tushar Jani, Chairman of CSC Group.
Nations Department of Economic and Social Affairs.
(2)International Monetary Fund.
About CSC Group
CSC Group is one of India's leading air cargo handling companies,
having a presence in Delhi,
Ahmedabad, Mumbai, and Kannur with
world-class infrastructure. The Group handles more than one million
tons of cargo annually and has leadership in pharma healthcare
logistics. CSC has been recognized for its exemplary work through
several awards and certifications. It is a proud employer of more
than 5000 people across all its locations in India. CSC
Group was founded by Mr. Tushar Jani
and Mr. Khushroo Dubash, the
co-founders of Blue Dart Express Ltd.
About Drone Delivery Canada Corp.
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:
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
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
SOURCE Drone Delivery Canada