TORONTO, ONTARIO – December 20, 2023 – Drone Delivery Canada Corp. (TSXV: FLT; OTC QX: TAKOF; Frankfurt: A3DP5Y or ABBA.F) (the “Company” or “DDC”) is pleased to announce, further to it’s press release dated September 7, 2023, that it has completed the first of two milestones as part of the contract (the “Contract”) with the Department of National Defence and the Canadian Armed Forces’ (“DND/CAF”) Innovation for Defence Excellence and Security (“IDEaS”) program. The Company has been authorized to move to the second phase of the Contract which is expected to be completed in the first quarter of 2024.
The completion of the first milestone of the project involved nine test objectives pursuant to which the Company completed a total of 145 flights with an overall flight distance of almost 800km.
With the completion of the test environment milestones during the first phase of the Contract, the Company will move to the real-world operation phase of the Contract to demonstrate the Canary’s ability to deliver just in time medical equipment and supplies.
As part of the IDEaS program, DDC’s Canary drone has been selected to potentially play a crucial role in supporting the DND/CAF’s delivery of medical equipment and other necessary supplies during mission-critical operations. The Contract, with a value of $200,000, will run for a 6-month duration and contains two milestones. A successful outcome of this initial Contract could lead to a follow on 12-month contract valued up to $1 million.
“We are immensely proud of the achievement in completing the first phase of the DND contract. This success is a result of the hard work, dedication, and exceptional skills of the entire DDC team. We look forward to continuing this successful effort as we move into the next phase of the Contract.” said Steve Magirias, CEO of Drone Delivery Canada.
The Company also announces that Debbie Fisher has resigned from the Company’s Board of Directors effective December 31, 2023. “We thank Debbie for her support of DDC during her tenure on our board specifically around the establishment of our people governance and compliance procedures,” said Michael Della Fortuna, Chairman of the Board of Director for Drone Delivery Canada.
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:
Innovation for Defence Excellence and Security (IDEaS) is a defence innovation program which invests in research and technology aimed at meeting the demands of today’s complex global defence and security environment. Since launching in April 2018, IDEaS has been working with Canadian innovators to develop the science and technology landscape, and is helping turn innovative thinking into tangible solutions for the Department of National Defence and the Canadian Armed Forces (DND/CAF), as well as Canadians. Visit the IDEaS website to get updates on the latest challenges issued by the program.
For further information:
Investor Relations: Mr. Steve Magirias, Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: email@example.com;
Media Relations: Mr. Steve Magirias, Chief Executive Officer, Email: firstname.lastname@example.org
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Notice Regarding Forward Looking Information
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