TORONTO, Sept. 14,
2023 /CNW/ - Drone Delivery Canada Corp. (TSXV:
FLT) (OTCQX: TAKOF) (Frankfurt:
A3DP5Y or ABBA.F) (the "Company" or "DDC") is pleased to
announce that it has restarted the execution of the contract with
the Canadian Government to operate and evaluate DDC's proprietary
drone delivery platform using DDC's heavy-lift Condor remote
piloted aircraft, the largest drone currently being developed by
DDC. The Contract initially announced in March 2023, with a value up to approximately
$1.2 million is with the Canadian
government's Innovative Solutions Canada program.
The Company has prepared a second Condor to continue with the
execution of the contract. The Company has completed the
investigation of the incident with the first Condor and has made
the required adjustments and improvements to the second Condor to
improve overall reliability and flight performance.
Under the terms of the Contract, DDC will restart the operation,
testing, and evaluation of the capabilities of the Condor drone
solution. The contract consists of 3 phases:
- Short range flights
- Long range endurance flights
- Extreme environmental testing
The multi-package payload compartment of the Condor is designed
to carry approximately 20 cubic feet of cargo. The Condor measures
22 feet long, 5 feet wide and 7 feet tall. It has a rotor diameter
of approximately 20 feet and is capable of vertical takeoff and
landing. The Condor is equipped with the Company's
proprietary FLYTE management system which is the same platform
used in all the Company's cargo delivery drones. The turnkey
solution is expected to be marketed in a managed service SaaS
business model in Canada and
potentially as a licensed managed service internationally, subject
to applicable regulation.
Subject to all required regulatory approvals, the increased size
and payload capacity of the Condor is expected to unlock a
significant number of new potential use case opportunities,
including in sectors such as mining, oil and gas, inspection, and
emergency preparedness.
"We are excited to restart the execution of the ISC contract. We
look forward to once again displaying the full capabilities of the
improved Condor and to potentially offer the Condor platform to all
interested government of Canada
parties" said Steve Magirias, CEO of
DDC. "The DDC team has worked diligently to make the necessary
improvements to the Condor in order to restart the execution of
this important contract for DDC."
A successful outcome of this contract could lead DDC to
enter the Pathway to Commercialization which is a new program
launched by Innovative Solutions Canada to speed up the rate at
which Government of Canada
departments can access tested and approved Canadian technologies
and services for their own use. Once in the Pathway to
Commercialization, the program allows any Canadian government
entity to purchase an unlimited number of Condor contracts with an
individual contract value up to $8
million.
About Drone Delivery Canada
Corp.
Drone Delivery Canada Corp. is an award-winning drone technology
company focused on the design, development, and implementation of
its proprietary logistics software platform, using drones. The
Company's platform is intended to 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 Venture Exchange under the symbol FLT, on the U.S. OTC
QX market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F.
Read more 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. Such statements often address
expected future business and financial performance, financial
condition, and other matters, and often contain words or phrases
such as "expect," "may," "can," "believe," "forecast," "estimate,"
"goal," "target," "will," and other similar expressions, and
variations or negatives of these words or phrases. 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, market acceptance, 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. Except as may
be required by applicable securities law, the parties undertake no
obligation to update forward-looking information, whether as a
result of new information, future events or otherwise.
SOURCE Drone Delivery Canada Corp.