Drone Delivery Canada Grants Stock Options and Release of Shares from Escrow
Drone Delivery Canada Corp. (“DDC or the Company”) (TSX.V:FLT OTC:TAKOF), announces that it has granted an aggregate of 5,300,000 options to purchase common shares of the Company exercisable at a price of $1.80 per share for a period of five years, to certain officers, directors and consultants of the Company, in accordance with the terms of the Company’s stock option plan. The options are subject to a vesting period released 1/3 every six months from the date of grant pursuant.
The Company also announces that, as a result of the Company’s listing on the TSX Venture Exchange (the “TSXV”) as a Tier 1 issuer on December 27, 2017, the Company became an “established issuer” pursuant to the terms of an escrow agreement entered into with Computershare Investor Services Inc. on June 6, 2016 (the “Escrow Agreement”). The Escrow Agreement provides for the remainder of the Company’s securities currently held in escrow to be released immediately, at which time 11,328,080 common shares of the Company will be released from escrow.
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, using 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 TSX Venture 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.
Richard Buzbuzian, President, Drone Delivery Canada
Telephone: (647) 501-3290
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.