TORONTO, March 23, 2020 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT; OTC: TAKOF; Frankfurt: ABB.F) (the "Company" or "DDC") is pleased to announce that the DSV Air & Sea Inc. Canada ("DSV") project is now commercially operational.
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. Commercial operations and revenue-generation are pursuant to the terms of the Agreement. The Company expects multiple subsequent inbound/outbound commercial routes for DSV's customers with time-sensitive cargo.
Customers pay DDC a monthly fee for each drone route deployed, pursuant to the terms of their respective agreements.
"This is a significant commercial landmark for the Company – our first operational, commercialized customer is now live. 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. We would like to thank our employees, shareholders, Air Canada and DSV for helping us achieve this major commercial milestone."
"With the commercial roll-out, we are looking ahead with our clients based on their unique needs and requirements. Many of our key clients are excited and ready to be part of these innovative next steps," said Martin Roos, Managing Director – DSV Air & Sea, Canada.
"Air Canada is extremely proud to be a 'First in Flight' partner with DSV and Drone Delivery Canada," said Tim Strauss, Vice President, Cargo at Air Canada. "We are entering a unique time in aviation history as we move towards a future that suggests an entirely new landscape of opportunities for the global supply chain. And we are beyond delighted that the front door to this new world is opening up right here in Canada enabled by the incredible technology Drone Delivery Canada has brought to the market."
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.
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
About Air Canada
Air Canada is Canada's largest domestic and international airline serving nearly 220 airports on six continents. Canada's flag carrier is among the 20 largest airlines in the world and in 2019 served over 51 million customers. Air Canada provides scheduled passenger service directly to 62 airports in Canada, 53 in the United States and 101 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America. Air Canada is a founding member of Star Alliance, the world's most comprehensive air transportation network serving 1,250 airports in 195 countries. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax, which also named Air Canada the 2019 Best Airline in North America.
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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: Capital Markets: Mr. Richard Buzbuzian, Telephone: (647) 501-3290, Email: [email protected]; Investor Relations: Mr. Bill Mitoulas, Telephone: (416) 837-7147, Email: [email protected]; Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: [email protected]