TORONTO, July 27, 2021 /CNW/ - Drone Delivery Canada Corp.
(TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A2AMGZ) (Frankfurt: ABB.F) (the
"Company" or "DDC") is pleased to announce that it has become the
first publicly traded drone delivery company to be granted a
domestic cargo licence under the Canada Transportation
Act ("CTA") and Air Transport Regulations (Canada). This licence, normally issued to
airlines that provide passenger or cargo services, is a critical
step to the continued expansion and scaling of DDC operations.
Such CTA licence is mandatory for any air carrier intending to
provide scheduled, commercial air services in Canada, whether carrying cargo or passengers.
With the granting of the CTA licence, DDC continues its progress
toward routine, sustainable and scalable cargo delivery operations
intended to address logistical challenges and opportunities
throughout Canada. Obtaining this
licence allows for the Company to continue developing new drone
delivery use cases, as well as the potential expansion of ongoing
operations, such as those recently announced for Edmonton International Airport and
Fraser Lake, British Columbia.
DDC would like to acknowledge the support and assistance
provided by the Canadian Transportation Agency and Transport Canada
Civil Aviation. Their continued focus on innovation helps to
advance the remotely piloted aircraft system (RPAS) industry in
Canada.
"The granting of our CTA licence is a key milestone for us. As a
leader in the drone delivery industry, DDC continues to ensure
regulatory compliance while at the same time providing critical
services to our clients. We are pleased with our continued
successful progress on regulations, technology and customer revenue
projects as we build our scalable commercial capabilities," said
Michael Zahra, President & CEO
Drone Delivery Canada Corp.
Section 61(a)(i) of the CTA requires that, among other things,
the Company must be able to establish at all times that at least
51% of the voting interests of the Company are owned and controlled
by Canadians. In order to comply with such rule, the Company will
seek to amend its constating documents to incorporate the necessary
restrictions, which will be in line with other public Canadian
airlines. In the meantime, DDC has received from the Minister of
Transport an exemption from s. 61(a)(i) until June 22, 2022. The Company intends to provide
updates on the proposed amendments in due course.
About Drone Delivery Canada Corp.
Drone Delivery
Canada Corp. is an ISO 9001 certified, 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 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 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.