TORONTO, March 23,
2023 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT)
(OTC QX: TAKOF) (Frankfurt: A3DP5Y
or ABBA.F) (the "Company" or "DDC") is pleased to announce
that, with the assistance of its sales agent Air Canada (TSX: AC),
it has signed a contract (the "Contract") with the Canadian
Government to work with Transport Canada in operating and
evaluating DDC's proprietary drone delivery platform using DDC's
heavy-lift Condor remote piloted aircraft, the largest drone
currently being developed by DDC. The Contract, with a value up to
approximately $1.2 million is with
the Canadian government's Innovative Solutions Canada program.
Under the terms of the Contract, DDC will provide Transport Canada
with a Condor drone, and collaborate with Transport Canada in
operating, testing and evaluating the capabilities of the Condor
drone solution until December 2023.
The contract consists of 3 phases:
(1) Short range flights
(2) Long range endurance flights
(3) Extreme environmental testing
The multi-package payload compartment of the Condor is designed
to carry approximately 20 cubic feet of cargo. The Condor measures
22 feet long, 5 feet wide and 7 feet tall. It has a rotor diameter
of approximately 20 feet and is capable of vertical takeoff and
landing. The Condor is equipped with the Company's proprietary
FLYTE management system which is the same platform used in all the
Company's cargo delivery drones. The turnkey solution is expected
to be marketed in a managed service SaaS business model in
Canada and potentially as a
licensed managed service internationally, subject to applicable
regulation.
Subject to all required regulatory approvals, the increased size
and payload capacity of the Condor is expected to unlock a
significant number of new potential use case opportunities,
including in sectors such as mining, oil and gas, inspection, and
emergency preparedness.
"We are extremely excited to provide Transport Canada with our
Condor drone and to be involved in the Innovation Solutions Canada
program. We look forward to working with Transport Canada to
display the full capabilities of the Condor and to potentially
offer the Condor platform to all interested government of
Canada parties," said Steve Magirias, CEO of DDC. "This contract is
made possible through the talent and effort of the DDC team which
has worked tirelessly to get our Condor drone developed to achieve
this milestone along with potential future milestones."
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:
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
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. Such statements often address
expected future business and financial performance, financial
condition, and other matters, and often contain words or phrases
such as "expect," "may," "can," "believe," "forecast," "estimate,"
"goal," "target," "will," and other similar expressions, and
variations or negatives of these words or phrases. 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, market acceptance, 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. Except as may
be required by applicable securities law, the parties undertake no
obligation to update forward-looking information, whether as a
result of new information, future events or otherwise.
SOURCE Drone Delivery Canada Corp.