Mr. Michael Zahra reports

DRONE DELIVERY CANADA ANNOUNCES $6.0 MILLION BOUGHT DEAL PUBLIC OFFERING

Drone Delivery Canada Corp. has entered into an agreement with a syndicate of investment dealers co-led by Cormark Securities Inc. and Echelon Wealth Partners Inc. pursuant to which the underwriters have agreed to purchase 6.82 million units from the treasury of the company, at a price of 88 cents per unit, and offer them to the public by way of a short-form prospectus for total gross proceeds of approximately $6,001,600.

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 has granted the underwriters an option 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.

The units to be issued under the offering will be offered by way of a short-form prospectus in each of the provinces of Canada, other than Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

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 (SaaS) model for government and corporate organizations globally.

Drone Delivery is a publicly listed company trading on the TSX Venture Exchange under the symbol FLT, on the U.S. OTCQB market under the symbol TAKOF, and on the Frankfurt Exchange in Germany under the symbol A2AMGZ or ABB.F.

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