TORONTO, Oct. 29, 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 (TSX: AC), DDC has entered into a commercial agreement dated October 28, 2019 (the "Agreement") with the Edmonton Regional Airports Authority ("ERAA"), operating Edmonton International Airport ("EIA") and Villeneuve Airport, for the purpose of establishing the world's first airport drone delivery hub, at Edmonton International Airport using DDC's proprietary drone delivery platform.
DDC and ERAA will build out flight routes from EIA using DDC's DroneSpot takeoff and landing zones utilizing DDC's drone flight infrastructure. Leveraging ERAA's expertise in airport operations, DDC and ERAA will implement, promote and market DDC's drone delivery services in this controlled airspace to a multitude of new and existing customers. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations and shall be subject to DDC obtaining all required regulatory approvals.
"With ERAA, we will develop a drone logistics network centered at this world-class airport as a hub for numerous drone routes for our customers. We will continue to work with ERAA and Transport Canada to define particular routes, and with ERAA and Air Canada to negotiate revenue metrics and other commercial terms, to be announced in future press releases. Given the potential size and scope of this disruptive offering, revenue outlook could be significant while concurrently bringing tremendous logistical benefits to the region", said Michael Zahra, President & CEO of DDC. "To all our stakeholders, I am pleased to report that we will be working closely with EIA to further our current expertise in operating at a major airport in controlled airspace to monetize similar opportunities globally."
The initial term of the agreement is five years with additional successive one-year terms to follow unless the Agreement is formally terminated.
"EIA is proud to partner with industry leader DDC to establish Canada's first airport drone delivery site and drastically modernize cargo logistics and supply chain solutions. Together with our long-standing partnership with Air Canada, we look forward to expanding DDC's network of customers at EIA's Airport City, the Edmonton Metropolitan Region, and other strategic partners. DDC's DroneSpot at EIA elevates intermodal connectivity to support the growing E-Commerce, Pharmaceuticals, Courier and Oil & Gas sectors. Thanks to our partners like NAV Canada and Transport Canada, our airport is leading in embracing innovation," said Myron Keehn, EIA VP of Air Service and Commercial Development.
About Edmonton International Airport
Edmonton International Airport is a self-funded, not-for-profit corporation whose mandate is to drive economic prosperity for the Edmonton Metropolitan Region. EIA is Canada's fifth-busiest airport by passenger traffic and the largest major Canadian airport by land area. EIA offers non-stop connections to destinations across Canada, the US, Mexico, the Caribbean and Europe. EIA is a major economic driver, with an economic output of over $3.2 billion, supporting over 26,000 jobs. EIA's Airport City propels new jobs, tourism and economic diversification – and creates a destination in and around EIA, featuring entertainment, e-commerce, retail, hospitality, cargo/logistics, bio-pharma, light manufacturing and many other industries. EIA is focused on digital strategy to ensure it becomes the airport of the future. For more information, please visit: flyeia.com, follow @flyeia on Twitter, Instagram, Linkedin or Facebook.
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. For more information, please visit: www.DroneDeliveryCanada.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
For further information: Richard Buzbuzian, Capital Markets, Telephone: (647) 501-3290, Email: [email protected]; Bill Mitoulas, Investor Relations, Telephone: (416) 837-7147, Email: [email protected]