DDC ANNOUNCES CLOSING OF PRIVATE PLACEMENT OFFERING FOR GROSS PROCEEDS OF $10,900,400
Toronto, ON, February 28, 2017 – Drone Delivery Canada Corp. (“DDC” or the “Company”) (CSE:FLT) is pleased to announce, further to its news releases dated February 6, and February 23, 2017, that it has completed its previously announced private placement offering of special warrants (the “Special Warrants”), issuing an aggregate of 31,144,000 Special Warrants at a price of $0.35 per Special Warrant for aggregate gross proceeds of $10,900,400, which includes the exercise by GMP Securities L.P. (“GMP”), as sole lead agent, of its option for an additional 1,144,000 Special Warrants.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
For more information, please visit www.dronedeliverycanada.com
About Drone Delivery Canada
Drone Delivery Canada is a drone technology company focused on the design, development and implementation of its proprietary logistics software platform utilizing drones. The Company’s platform will be used as Software as a Service (SaaS) for government and corporate organizations. Drone Delivery Canada Corp. is a publicly listed company trading on the Canadian Securities Exchange under the symbol FLT.
Richard Buzbuzian, President, Drone Delivery Canada, Telephone: (647) 501-3290, Email: richard@dronedeliverycanada.com
Bill Mitoulis, Investor Relations, Drone Delivery Canada, Telephone: (416) 837-7147, Email: billm@venturenorthcapital.com
Nelson Hudes, Media Relations, Drone Delivery Canada, Telephone: (905) 660-9155, Email: nelson@hudescommunications.com
Forward Looking Statements
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. 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.
