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Drone Delivery Canada Corp
Symbol FLT
Shares Issued 192,680,089
Close 2020-12-03 C$ 0.91
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Drone Delivery signs LOI with Apple Express

2020-12-03 16:21 ET - News Release

Mr. Michael Zahra reports


Drone Delivery Canada Corp., with the assistance of its sales agent Air Canada, has executed a letter of intent, effective Dec. 3, 2020, with Apple Express Courier Ltd.

Under the terms of the LOI, the parties are co-operating to work toward a definitive agreement. The commercial details of the expected agreement are for the company's drone delivery solution using Drone Delivery Canada's Sparrow, Robin XL and Condor drones, and the company's patented and proprietary FLYTE system, in a software-as-a-service model. Drone Delivery Canada will provide implementation and commissioning of the systems, training, technical support, continuing managed services and remote monitoring from its operations control centre in Vaughan, Ont. Anticipated projects would initially focus on health care and e-commerce deliveries in Northern Ontario with potential subsequent expansion to other provinces in Canada. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.

"Market response to our solution has been very favourable in Canada and internationally, and we are pleased with our ongoing momentum. We are excited to announce a new relationship, with Apple Express, on this innovative commercial opportunity to service the needs of rural communities in Northern Ontario, with potential further network growth in the future," said Michael Zahra, president and chief executive officer of Drone Delivery Canada.

"As a leader in last-mile supply chain logistics, Apple Express is excited to work with Drone Delivery Canada to bring their innovative and proven drone delivery solutions into our offering to customers in rural environments in Canada. Drone delivery has the ability to drive cost savings, logistical efficiencies and incremental revenue opportunities," said Nasser Syed, CEO of Apple Express Courier.

About Apple Express Courier Ltd.

In 1985, Apple Express was established as a Toronto-based, local-delivery business. Strong leadership and a strategic vision enabled the company to achieve steady growth. With a view to the future, the company invested in emerging technology and infrastructure to service the world's largest brands. Today, Apple Express provides its customers with strategic transportation and logistics services through the utilization of its people's skills, processes and technology. Its strategic goal is to take on and aggregate more and more of its customers' non-strategic processes, particularly as they relate to the last mile of their initial and continuing relationship with their customers. Apple Express delivers highly customized, outsourced, SLA satisfaction and last-mile supply chain solutions for large health care, information technology and retail businesses. In 2016, Apple Express was acquired by a wholly owned subsidiary of bpost SA-NV, the Belgian-based international parcel and mail delivery service.

About Drone Delivery Canada Corp.

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 a SaaS model for government and corporate organizations globally.

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