Drone Delivery Canada Signs $2.5 Million Commercial Agreement With Moose Cree First Nation to Deploy DDC's Drone Delivery Platform
TORONTO, Dec. 5, 2018 /CNW/ - Drone Delivery Canada 'DDC or the Company' (TSX.V:FLT OTC:TAKOF), is pleased to announce that it has executed a commercial agreement with the Moose Cree First Nation to deploy DDC's drone delivery technology platform with the Moose Cree First Nation communities.
The Company is currently permitted to commercially operate its drone delivery platform within the Moosonee and Moose Factory communities with its Compliant Special Flight Operations Certificate (SFOC) which permits DDC to conduct drone operations in all Canadian provinces and territories. DDC, with its Compliant SFOC in hand, will deploy its drone delivery platform to service the communities of Moose Factory and Moosonee, two northern towns located in Ontario approximately 19 kilometres south of James Bay.
Utilizing DDC's compliant Sparrow aircraft, capable of a 5 kg payload, goods to be commercially transported between the communities will include, letters, general parcels, medical supplies, and other general necessities.
Financial terms of the agreement are $2.5 Million of revenue for year one with the potential to expand services in following years. As previously anticipated, it is expected that revenues will begin to be received late in Q2, 2019 once Federal funding is received by the Moose Cree First Nations.
"We are on track with the roll out of our commercial operations in Q2 of 2019", commented Tony Di Benedetto, CEO of Drone Delivery Canada. "This agreement is representative of the large 'Remote Communities' market that we see penetrating over the next 3 to 5 years. The Remote Communities market is only one segment of the overall total addressable market in Canada. In addition to Canada, DDC is working with other customers around the globe to licence our FLYTE software and drone delivery technology."
In Canada, there are approximately one thousand remote communities, and, almost all face similar infrastructure and logistics challenges that contribute to a high cost of living. DDC looks to provide a cost effective and highly efficient logistic solution to these communities to improve lives and to create jobs in Canada's north all while reducing costs.
"We have worked closely with DDC for nearly two years and see the many benefits of DDC's Drone Delivery Technology to our community as well as many others like us. Where infrastructure is weak, or at times non-existent or accessible, DDC's drone delivery platfrom is a valuable solution to connect remote communities and provide fast and efficient deliveries that were once not possible," commented Stan Kapashesit, Director of Economic Development Moose Cree First Nation.
The Company is currently focused on strengthening its management team amongst all levels with a focus on enlisting the smartest minds to assist in driving commercial operations.
For more information, please visit www.dronedeliverycanada.com
About Drone Delivery Canada
Drone Delivery Canada 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 Software as a Service (SaaS) for government and corporate organizations.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Drone Delivery Canada
For further information: Tony Di Benedetto, CEO, Telephone: (416) 791-9399, Email: [email protected]; Richard Buzbuzian, President, Telephone: (647) 501-3290, Email: [email protected]
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