Mr. Michael Zahra reports

DRONE DELIVERY CANADA ANNOUNCES UPSIZED BOUGHT DEAL PUBLIC OFFERING TO $12.0 MILLION

In connection with its previously announced bought deal public offering, Drone Delivery Canada Corp. and a syndicate of investment dealers co-led by Cormark Securities Inc. and Echelon Wealth Partners Inc. has agreed to increase the size of the offering. The company will now issue 13.64 million units from the treasury of the company at a price of 88 cents per unit for total gross proceeds of approximately $12,003,200.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share at a price equal to $1.20 for a period of 24 months.

In addition, the company and the underwriters have also agreed to increase the overallotment option granted to the underwriters to purchase up to an additional 15 per cent of the units of the offering on the same terms exercisable at any time up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any.

The company intends to use the net proceeds of the offering for capital expenditures and general corporate purposes.

Closing of the offering is expected to occur on or about Dec. 22, 2020, and is subject to regulatory approval including that of the TSX Venture Exchange.

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 software-as-a-service model for government and corporate organizations globally.

We seek Safe Harbor.