DDC ANNOUNCES DELAY IN FILING INTERIM FINANCIAL STATEMENTS

August 31, 2020

TORONTO, CANADA – August 31, 2020 – Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ) (Frankfurt: ABB.F) (the “Company” or “DDC”) announces that it is relying on the exemption provided in Ontario Instrument 51-505 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (and similar exemptions provided by other Canadian securities regulators) (the “Ontario Instrument”) to postpone the filing of the following continuous disclosure documents (collectively, the “Documents”):

  • the Company’s condensed interim consolidated financial statements for the six months ended June 30, 2020 and related certifications; and
  • the Company’s MD&A for the six months ended June 30, 2020.

The Ontario Instrument provides the Company with an additional 45 days from the deadlines otherwise applicable under Ontario securities laws to make the respective filings (the “Extension Period”).  Until the Company has filed the Documents, members of the Company’s management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207. The Company expects to file the Documents on or before September 4, 2020.  There have been no material business developments since the date of the last condensed interim financial statements of the Company, filed on June 1, 2020 which have not otherwise been disclosed on SEDAR www.sedar.com.

 

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/

 

For further information:

 

Investor Relations: Mr. Michael Zahra, Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: billm@dronedeliverycanada.com;

Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: nelson@hudescommunications.com

 

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.

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