09:16:21 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Drone Delivery Canada Corp
Symbol FLT
Shares Issued 177,345,089
Close 2020-01-28 C$ 0.83
Market Cap C$ 147,196,424
Recent Sedar Documents

Drone Delivery starts moving equipment to DSV facility

2020-01-29 07:52 ET - News Release

Mr. Michael Zahra reports

DRONE DELIVERY CANADA ANNOUNCES COMMENCEMENT OF IMPLEMENTATION OF DSV CANADA CUSTOMER PROJECT

Further to Drone Delivery Canada Corp.'s press release dated Oct. 23, 2019, implementation of the DSV Air & Sea Inc. Canada project has commenced.

On Oct. 23, 2019, Drone Delivery Canada announced that it had entered into a commercial agreement with DSV, through its sales agent, Air Canada, to provide its drone delivery platform for the use of DSV commencing at DSV's head office in Milton, Ont. Infrastructure equipment (including DroneSpot depots, battery management systems and Sparrow drones) is currently being delivered to DSV's facility for set-up to allow Drone Delivery Canada to commence providing drone delivery services to DSV in accordance with the agreement. After a short period for installation, testing and commissioning of the system, full operational and revenue-generating flights are expected to begin, pursuant to the terms of the agreement. After the initial on-premises route is operational, the company expects multiple subsequent inbound/outbound routes for DSV's customers with time-sensitive cargo.

"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 and chief executive officer of Drone Delivery Canada. "DDC continues to lead the drone logistics industry and we have a very strong funnel of global opportunities and we expect to see continued customer announcements in 2020 for deployment and revenue generation this year."

Customers pay Drone Delivery Canada a monthly fee for each drone route deployed, pursuant to the terms of their respective agreements.

About Drone Delivery Canada Corp.

Drone Delivery 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 model for government and corporate organizations globally.

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