DDC ANNOUNCES LETTER OF INTENT WITH APPLE EXPRESS COURIER LTD
TORONTO, ONTARIO – December 3rd, 2020 – Drone Delivery Canada Corp. (TSXV: FLT; OTC: TAKOF; Frankfurt: A2AMGZ or 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 December 3rd, 2020, with Apple Express Courier Ltd.
Under the terms of the LOI, the parties are cooperating to work towards a Definitive Agreement. The commercial details of the expected Agreement are for the Company’s drone delivery solution using DDC’s Sparrow, Robin XL and Condor drones and the Company’s patented and proprietary FLYTE system, in a SaaS model. DDC will provide implementation & commissioning of the systems, training, technical support, ongoing managed services and remote monitoring from its Operations Control Centre in Vaughan, Ontario. Anticipated projects would initially focus on healthcare and ecommerce deliveries in Northern Ontario with potential subsequent expansion to other provinces in Canada. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.
“Market response to our solution has been very favourable in Canada and internationally, and we are pleased with our ongoing momentum. We are excited to announce a new relationship, with Apple Express, on this innovative commercial opportunity to service the needs of rural communities in Northern Ontario, with potential further network growth in the future,” said Michael Zahra, President & CEO of Drone Delivery Canada.
“As a leader in last-mile supply chain logistics, Apple Express is excited to work with Drone Delivery Canada to bring their innovative and proven drone delivery solutions into our offering to customers in rural environments in Canada. Drone delivery has the ability to drive cost savings, logistical efficiencies and incremental revenue opportunities,” said Nasser Syed, CEO of Apple Express Courier Ltd.
About Apple Express Courier Ltd.
In 1985 Apple Express was established as a Toronto-based, local-delivery business. Strong leadership and a strategic vision enabled the company to achieve steady growth. With a view to the future, the company invested in emerging technology and infrastructure to service the world’s largest brands. Today, Apple Express provides its customers with strategic transportation and logistics services through the utilization of its people’s skills, processes, and technology. Its strategic goal is to take on and aggregate, more and more of its customers’ non-strategic processes, particularly as they relate to the “last mile” of their initial and ongoing relationship with their customers. Apple Express delivers highly customized, outsourced, SLA satisfaction and last-mile supply chain solutions for large healthcare, IT, and retail businesses. In 2016, Apple Express was acquired by a wholly owned subsidiary of bpost SA-NV, the Belgian-based international parcel and mail delivery service. Read more about the company at: www.appleexpress.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.
