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TORONTO, Oct. 18, 2021 /CNW/ - Further to its press release dated July 15th, 2021, Drone Delivery Canada Corp. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A2AMGZ) (Frankfurt: ABB.F) (the "Company" or "DDC") is pleased to announce that effective October 18th, 2021, its University of British Columbia ("UBC") drone delivery solution at the Stellat'en First Nation for UBC's 'Remote Communities Drone Transportation Initiative' ("DTI") program is commercially operational. The term of the project is 12 months.
The project enables defined-route deliveries utilizing DDC's Sparrow drone, its DroneSpot® takeoff and landing zones and the Company's proprietary FLYTE software. The solution will be used to transport a variety of cargo for the benefit of the Stellat'en First Nation and the Village of Fraser Lake, located in Central Northern British Columbia, Canada.
UBC pays DDC an upfront fee and a monthly fee for the drone route deployed, pursuant to the terms of the agreement. In addition to projects with commercial customers, this project is DDC's fourth First Nations drone solution and its first in British Columbia.
All operations will be conducted in accordance with appropriate Canadian regulations. Flights will be remotely monitored by DDC from its Operations Control Centre located in Vaughan, Ontario.
"We are pleased to move to commercial operations at this project. We look forward to working with all parties to bring meaningful value to the communities using our patented solution," said Michael Zahra, President & CEO of DDC. "We are entering a unique time in transportation history as we move towards a future that suggests an entirely new landscape of opportunities for the global supply chain. As an award-winning global leader, DDC is pleased with our continued technology & commercial successes in the drone delivery industry."
Implementation of the Company's project at Edmonton International Airport, previously announced on July 18th, 2021, is underway and flights are expected approximately at the end of October.
About UBC's Drone Transport Initiative
For more information, please see: https://www.med.ubc.ca/dronetransportproject
About the University of British Columbia
For more information, please see: https://www.ubc.ca
About Stellat'en First Nation
For more information, please see: https://www.stellaten.ca
About Drone Delivery Canada Corp.
Drone Delivery Canada Corp. is an ISO 9001 certified, 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 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 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:
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.
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