/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
TORONTO, March 2, 2018 /CNW/ - 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.
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.
SOURCE Drone Delivery Canada