DDC ANNOUNCES 2ND COMMERCIAL AGREEMENT WITH DSV CANADA, INTENDED FOR HEALTHCARE CARGO DELIVERY
TORONTO, ONTARIO – June 22, 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 entered into a commercial agreement dated June 22, 2020 (the “Agreement”) with DSV Air & Sea Inc. Canada (“DSV”), the Canadian arm of the global transport and logistics company DSV Panalpina A/S, to deploy DDC’s drone delivery platform, with the intent for DSV to deliver healthcare related cargo from DSV’s warehouse in Milton, Ontario to DSV customers locally.
Pursuant to the terms of the Agreement, DDC will deploy its Sparrow cargo drone, with the cargo drop capability previously announced June 10, 2020. The term of the Agreement is three months, full payment will be made upfront by DSV.
At the destination, the Sparrow will hover at a lowered altitude, drop untethered cargo in a designated area shared by multiple DSV transactional customers, then return to DSV’s DroneSpot. The route is approximately 3.5km. Flights will be remotely monitored by DDC from its Operations Control Centre located in Vaughan, Ontario. DDC will commence implementation of the solution in Q3 2020 and expects to begin providing drone delivery services under the Agreement in the same quarter, with the potential of more additional routes being added in 2020. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.
“We are currently flying hundreds of successful flights per month at DSV for their first route, and we are pleased to announce a second paid route with DSV. DSV is a global leader in the logistics space and a perfect fit as a scalable customer for us,” said Michael Zahra, President & CEO of DDC. “DSV will use our proven Sparrow drone with the new cargo drop functionality, patented FLYTETM system, and commercial operations centre. It’s very fulfilling to DDC to provide DSV a solution to help deliver important healthcare related cargo given the current situation.”
“During this critical time, we have helped many of our clients find new ways of delivering cargo. In order to keep goods flowing through the supply chain, innovative solutions are key to embrace. Drone delivery provides an answer to many of the challenges we’ve seen during the current situation,” says Martin Roos, Managing Director of DSV Air & Sea Canada. “Our partnership with DDC and Air Canada Cargo provides the opportunity to fulfill our clients’ needs, ensuring time sensitive, critical cargo can be delivered locally with accuracy, efficiency and minimal person-to-person contact. We are excited to optimize our clients’ supply chains and are now exploring the true potential of drone innovation.”
About DSV
DSV – Global Transport and Logistics provides and manages supply chain solutions for thousands of companies every day – from the small family run business to the large global corporation. Our reach is global, yet our presence is local and close to our customers. 60,000 employees in more than 80 countries work passionately to deliver great customer experiences and high-quality services. Read more at: www.ca.dsv.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 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/channel/UCc_3XCRUn8lJlnPQDk3z6mQ
https://www.facebook.com/dronedeliverycanada/
https://www.instagram.com/dronedeliverycanada/
https://www.twitter.com/dronedeliveryca/
For further information:
Capital Markets: Mr. Richard Buzbuzian, Telephone: (647) 501-3290, Email: richard@dronedeliverycanada.com;
Investor Relations: Mr. Michael Zahra, President & 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.
