TORONTO, May 11, 2020 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT; OTC: TAKOF; Frankfurt: ABB.F) (the "Company" or "DDC") is pleased to provide an update to the DSV Air & Sea Inc. Canada ("DSV") commercially operational project.
On October 23rd, 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 with the first paid route at DSV's head office facility in Milton, Ontario. Per the Company's press release of March 23rd, 2020, revenue-generation & commercial operations are active, pursuant to the terms of the Agreement.
After a brief successful implementation of the solution, the system has been flying approximately 400 flights per month, all within expectations. To date, hundreds of successful flights have been conducted, further proving the Company's commercial operations, advanced technology solution and revenue business model.
The Company expects multiple subsequent inbound/outbound commercial routes for DSV's customers with time-sensitive cargo. Active discussions are underway with numerous prospective companies for subsequent routes.
Customers pay DDC a monthly fee for each drone route deployed, pursuant to the terms of their respective agreements.
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.
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: Capital Markets: Mr. Richard Buzbuzian, Telephone: (647) 501-3290, Email: [email protected]; Investor Relations: Mr. Michael Zahra, Chief Executive Officer, and 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]