DDC AWARDED FUNDING FROM THE DOWNSVIEW AEROSPACE INNOVATION & RESEARCH GREEN FUND
TORONTO, ONTARIO – March 15, 2023 – Drone Delivery Canada Corp. (TSXV: FLT; OTC QX: TAKOF; Frankfurt: A3DP5Y or ABBA.F) (the “Company” or “DDC”) is pleased to announce that it has been awarded a grant of up to $75,000 in funding from the Downsview Aerospace Innovation and Research (DAIR) Green Fund for its clean energy drone delivery solution.
The funding comes following an application process in 2022 pursuant to which DDC was selected as one of eight funding winners. Funded by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the DAIR Green Fund provides financial support for collaborative projects that can demonstrate an impact on the future of aerospace through sustainable and green aviation technologies and solutions.
DDC intends for the funds to be applied to certain of the operating costs for the Care by Air project as well as costs associated with regulatory approvals required to progress towards beyond visual line of sight (“BVLOS”) operations. BVLOS will allow for the operation of more complex routes with less human resources required as DDC seeks to add new project phases and route expansions.
“To meet our goal of becoming a net-zero economy, we must ensure that we are providing the new capabilities and technology for industries to easily make the transition. The DAIR Green Fund provides supports to businesses who are leading the charge in creating sustainable innovations that will help grow Canada’s aerospace industry. The eight businesses in southern Ontario that we are celebrating today have created environmentally friendly projects that will keep this industry competitive globally and create more jobs nationally. Our government is committed to finding new ways to move toward a greener economy that works for everyone,” said the Honourable Filomena Tassi, Minister Responsible for the Federal Economic Development Agency for Southern Ontario.
“We are honoured to be selected as one of only eight organizations to receive the funding from the DAIR Green Fund. We look forward to utilizing the funding to further our BVLOS capabilities and approvals. The mission of the DAIR Green Fund aligns perfectly with our mission to develop and commercialize disruptive and sustainable innovations for our customers,” said Steve Magirias, CEO of DDC.
For more information on the Care by Air project, please see: https://dronedeliverycanada.com/press-releases/ddc-care-by-air-project-with-halton-healthcare-dsv-canada-commercially-operational/
About the Downsview Aerospace Innovation & Research
Downsview Aerospace Innovation & Research (DAIR) is a not-for-profit whose mission is to revolutionize the collaboration environment by catalyzing innovation in aerospace and beyond. DAIR supports its members by offering access to state-of-the-art equipment and infrastructure to accelerate leading-edge and sustainable research and technology adoption; creating training solutions for the business and technology challenges of today and tomorrow; providing a platform for industry, academia, and government synergies, to foster and advance R&D partnerships; and advocation for the aerospace industry locally, nationally, and globally.
For more information about DAIR, please see: www.dairhub.com
For more information about the Green Fund, please see: https://www.dairhub.com/initiatives/green-fund/
About FedDev Ontario
For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
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
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. Steve Magirias, Chief Executive Officer
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.
