TORONTO, Nov. 24, 2020 /CNW/ - Drone Delivery Canada Corp.
(TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ) or
(Frankfurt: ABB.F) (the "Company" or "DDC") is
pleased to announce that, with the assistance of its sales agent
Air Canada (TSX: AC), it has executed a Letter of Intent
("LOI"), effective November
23rd, 2020, with Drones Express Inc.
("DEI"), for an expected multi-year, multi-route, Condor
project in Quebec.
Under the terms of the LOI, the parties are cooperating to work
towards a binding definitive agreement (the "Agreement").
The Agreement will set out the terms and conditions respecting a
drone delivery solution using multiple DDC Condor drones, and the
Company's proprietary DroneSpotTM depots to service
multiple coastal communities on multiple routes along the Lower
North Shore region of Quebec. The solution will use DDC's
patented and proprietary FLYTE system, in a SaaS model, and DDC
will provide implementation & commissioning of the system,
training, technical support, managed services and remote monitoring
from its Operations Control Centre in Vaughan, Ontario. The expected term of the
Agreement is to be 10 years with a total revenue over the term to
DDC of CAD$3.6 million, plus other
potential service revenues. DEI expects to expand this initial
solution to more Condor drones, more communities, and more routes
over time as this first project gains momentum during the term.
Subject to the execution of the Agreement, implementation of
the project is expected to commence in early summer 2021. All
operations would be conducted in accordance with the Canadian
Aviation Regulations and Transport Canada flight
authorizations.
"Market response to our pre-selling of the Condor solution has
been favourable in Canada and
internationally, and we are excited to announce our first potential
Condor project. This is a pivotal milestone for us. We are
pleased to be working with Drones Express on this innovative
commercial opportunity to service the needs of rural communities in
Quebec, with potential further
network growth in the future," said Michael
Zahra, President & CEO of DDC.
"We are very thrilled to partner with Drone Delivery Canada on
this very innovative new service. The current Canadian regulation
regulatory framework allows the use of drones operating beyond
visual line of sight (BVLOS), only in rural Canada for low-risk operations in remote and
isolated regions of Canada. Our
expertise lies in servicing remote communities in Québec. Using
drones to transport cargo and courier parcels is an innovative,
reliable, economical and fast transport solution, and the Lower
North Shore of Quebec is an ideal
region for the implementation of such an initiative. We are ready
for the challenge, a first in Canada," said François Bertrand, CEO of Drones
Express Inc.
About Drones Express Inc.
The shareholders of Drones
Express Inc. have strong expertise in transportation to remote
regions of Quebec. Drones Express
Inc. aims to provide to private & public sectors and residents
drone transport of cargo and courier parcels to/from and between
communities on the Lower North Shore and Anticosti Island. The
company's vision is to provide Quebec's remote and isolated communities with
a reliable, fast, and affordable drone delivery transportation
network, thereby contributing to the improvement of the quality of
life of these communities. For more information on Drones Express
Inc, please visit: www.dronesexpress.ca.
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 under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F .
Read more about the Company at:
www.DroneDeliveryCanada.com or on DDC's social media:
https://www.linkedin.com/company/drone-delivery-canada
https://www.youtube.com/dronedeliverycanada
https://www.facebook.com/dronedeliverycanada
https://www.instagram.com/dronedeliverycanada
https://twitter.com/DroneDeliveryCa
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