DDC ANNOUNCES GRANT OF PATENT AND OPTION GRANT
TORONTO, ONTARIO – June 24, 2022 – Drone Delivery Canada Corp. (TSXV: FLT; OTC QX: TAKOF; Frankfurt: A2AMGZ or ABB.F) (the “Company” or “DDC”) is pleased to announce that on February 8, 2022, the United States Patent Office granted U.S. Patent No.11,245,533 for DDC’s U.S. Patent Application No. 16/186,891 titled ‘System and Method for Secure Communication with One or More Unmanned Aerial Vehicles’.
The patent is directed to DDC’s proprietary technology to ensure secure, authenticated communication between a remote computing device and one or more unmanned aerial vehicles (each, a “UAV”). In particular, the patent is directed to a system including a controller located on a UAV and a flight management system in data communication with the controller. The remote computing device included in the flight management system receives and processes incoming UAV messages in a proprietary manner to ensure that the messages originate from valid and registered UAV controllers.
A U.S. continuation application as well as a corresponding Canadian application are currently pending.
“We are pleased to announce our seventh United States Patent Office grant issued. This patent has strategic importance DDC as it further connects our drones to our ecosystem. As we continue progressing with our technology roadmap, growing our intellectual property portfolio will be an essential factor towards the growth & maturity of the Company.” said Steve Magirias, CEO of Drone Delivery Canada.
DDC is currently seeking patent protection for other aspects of its technology.
For information on DDC’s other patent and commercial announcements, please visit:
https://dronedeliverycanada.com/press-releases/
Additionally, DDC also announces that it has granted stock options to purchase an aggregate of 5,875,000 common shares of the Company exercisable at a price of $0.56 per common share for a period of five years, to certain officers, directors, advisors and consultants of the Company. The options shall vest 1/3 after every six months following the date of grant, and additionally options granted to officers, employees and certain advisors and consultants of the Company are subject to certain performance-based vesting criteria.
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:
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. Steve Magirias, 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. 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.
