DDC ANNOUNCES LETTER OF INTENT WITH CSC GROUP IN INDIA
TORONTO, ONTARIO – November 12th, 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 executed a Letter of Intent (“LOI”), with CSC DRONE AVIATION – a CSC Group Company, located in India, effective November 12th, 2020.
Under the terms of the LOI, the parties shall cooperate and work jointly with the local regulator (Directorate General of Civil Aviation) and shall work together to identify and analyze market opportunities in India for DDC’s Condor drone delivery solution with the intent to work towards a definitive agreement for that market.
“We are pleased to be working with CSC Group towards an agreement for DDC’s Condor drone logistics solution in India. With a population of 1.4 billion people(1), and the world’s 3rd largest GDP at USD$8.7 trillion(2), India is a massive logistics market, so there are numerous potential applications for the Condor, from first-mile / last-mile cargo delivery, to oil & gas, mining, government, military, healthcare, humanitarian aid and infrastructure inspection services. We are very encouraged by the strong Canadian and international interest in the Condor as we work towards its commercialization and the finalization of testing,” said Michael Zahra, President & CEO of DDC.
“Diwali symbolizes victory, goodness, knowledge and prosperity, so during the auspicious period of Diwali, we are honoured to announce joining forces with Drone Delivery Canada to work towards bringing their advanced drone delivery solution to the enormous Indian market. Their solution, especially with the capabilities of the Condor, addresses many commercially viable use cases from commercial/industrial delivery applications to social benefit applications like healthcare,” said Mr. Tushar Jani, Chairman of CSC Group.
(1)United Nations Department of Economic and Social Affairs.
(2)International Monetary Fund.
About CSC Group
CSC Group is one of India’s leading air cargo handling companies, having a presence in Delhi, Ahmedabad, Mumbai, and Kannur with world-class infrastructure. The Group handles more than one million tons of cargo annually and has leadership in pharma healthcare logistics. CSC has been recognized for its exemplary work through several awards and certifications. It is a proud employer of more than 5000 people across all its locations in India. CSC Group was founded by Mr. Tushar Jani and Mr. Khushroo Dubash, the co-founders of Blue Dart Express Ltd.
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 in Germany under the symbol A2AMGZ or ABB.F .
Read more about the Company 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. Michael Zahra, 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.
