Drone Delivery Canada and Wolseley Canada Sign Agreement for Drone Delivery Development
Oct 19, 2017, 17:00 ET
TORONTO, Oct 19, 2017 /CNW/ - Drone Delivery Canada 'DDC or the Company' (CSE:FLT OTC:TAKOF), is pleased to announce it has signed an agreement with Wolseley Canada Inc. to collaborate on the potential implementation of a drone delivery solution to expand Wolseley Canada's distribution capabilities.
Using DDC's logistics platform, the development, prototyping and testing will be focused on a customized Depot to Depot solution as well as a Depot to Customer solution in Wolseley Canada's supply chain.
If the testing and development are successful to the satisfaction of both parties, the Parties intend to proceed with good faith negotiations of a definitive agreement once applicable government legislation is enacted (estimated Q4 2017 - Q1 2018). DDC shall be responsible for its own costs and expenses with respect to the testing and the development of the drone delivery logistics platform solution.
"We believe that we are the only drone delivery company in Canada to successfully achieve Beyond Visual Line of Sight (BVLOS) testing and are very pleased to announce this agreement with Wolseley Canada, one of the leading plumbing and HVAC/R distributors in Canada. As drone payloads increase, we think drone deliveries will radically improve on-time delivery," said Tony Di Benedetto, CEO of Drone Delivery Canada.
About Wolseley Canada
Wolseley Canada (www.wolseleyinc.ca) is a market leader in the wholesale distribution of plumbing, heating, ventilation, air conditioning, refrigeration, waterworks, fire protection, pipes, valves and fittings and industrial products. With its head office in Burlington, Ontario, the company has approximately 2,500 employees and 220 locations coast-to-coast. Wolseley's team of sales and service specialists, an industry-leading e-business platform, and relationships with the best vendors and brands in the business, make Wolseley the professional's choice across the country. Wolseley is also committed to being a good corporate citizen, while building and sustaining valuable community partnerships. Since 2004 Wolseley has been a national sponsor of Special Olympics Canada, and has donated more than $3.1 million through corporate sponsorship and employee fundraising. Wolseley is also an active supporter of Habitat for Humanity.
Wolseley Canada's parent company, Ferguson plc (www.fergusonplc.com) is the world's largest trade distributor of plumbing and heating products and a leading supplier of building materials. Ferguson plc is listed on the London Stock Exchange (LSE: FERG) and on the FTSE 100 index of listed companies.
For more information, please visit www.dronedeliverycanada.com
About Drone Delivery Canada
Drone Delivery Canada is a drone technology company based out of Vaughan, Ontario focused on the design, development and implementation of a commercial drone logistics platform for government and corporate organizations. Drone Delivery Canada Corp. is a publicly listed company trading on the Canadian Securities Exchange under the symbol FLT and on the OTCQB Venture Market in the United States under the symbol TAKOF.
SOURCE Drone Delivery Canada
For further information: Richard Buzbuzian, President, Drone Delivery Canada, Telephone: (647) 501-3290, Email: richard@dronedeliverycanada.com; Bill Mitoulis, Investor Relations, Drone Delivery Canada, Telephone: (416) 837-7147, Email: billm@venturenorthcapital.com
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