Drone Delivery Canada Announces Letter of Intent With IDP Group Inc.
TORONTO, Dec. 15, 2020 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ) (Frankfurt: 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 non-binding Letter of Intent ("LOI"), effective December 14th, 2020, with IDP Group Inc. ("IDP").
Under the terms of the LOI, the parties are cooperating to work towards a binding 10-year term definitive agreement (the "Agreement"). The Agreement will set out the terms and conditions respecting the Company's drone delivery solution using DDC's Sparrow, Robin XL and Condor drones, DroneSpotTM depots, and the Company's patented and proprietary FLYTE system, in a Software as a Service (SaaS) model. DDC will provide implementation & commissioning of the systems, training, technical support, ongoing managed services and remote monitoring from its Operations Control Centre in Vaughan, Ontario.
Anticipated projects on which the parties are focusing are for IDP to establish a commercial-scale drone depot and drone-specific third-party logistics (3PL) depot at its facility in Ontario, as well as multiple drone depots across the country, over the term of the Agreement, with an initial focus of providing e-commerce solutions to remote Canadian Indigenous communities, and an expected subsequent plan for a complete national drone coverage solution, and to use the drone infrastructure to provide support to emergency services & response, fire, health, security, surveillance, as well to use DDC drones as a means of delivering commercial products to suburban and ultimately urban areas. IDP is also interested in potentially incorporating DDC's drone infrastructure into IDP's SINA(1) Building System that can provide temporary & long-term accommodations, institutional space as well as negative pressure mobile ICU & hospital solutions, with pre-qualification under the Canadian Federal Government's Innovation Solutions Canada program. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.
"We are pleased to be working with IDP towards a binding agreement for their innovative logistics solution for remote communities, e-commerce, emergency services, and healthcare applications. IDP's vision for a very broad range of drone delivery applications fits perfectly with the wide-ranging capabilities and use cases that the DDC solution can address. Market response to our solution has been very favourable in Canada and internationally, and we are pleased with our ongoing progress and momentum," said Michael Zahra, President & CEO of Drone Delivery Canada.
"In our view, a commercial-scale drone depot with a dedicated 50,000 sqft infrastructure and 10+ acres of land that can support multiple daily flights of numerous drones, is a giant leap forward in bringing goods and services to remote parts of Canada, as well as a big step in providing a nation-wide drone support network for a variety of other uses and needs. We can provide this exact infrastructure today at our headquarters, and by having Drone Delivery Canada with all that they offer on the table as partners, the right pieces of this unique and complex plan are coming together. This year we launched SINA Building Systems, a complete prefabricated building solution that can provide high end automation, technology and security and deploy within days, perfect for setting up "drone ports" across the country to refuel, pick up & drop off cargo and complete a coast-to-coast network. We plan to build on DDC's existing DroneSpots and build larger drone ports to deploy across the country, and with the main drone port at our HQ, complete coast-to-coast drone coverage would be an exciting possibility." - Mr. Hamed Asl from IDP Group.
About IDP Group Inc.
IDP Group is a multifaceted group of companies located in a 330,000 sqft facility in Chesterville, Ontario, with more than twenty years of expertise in warehousing, logistics, modular construction as well as technology development in vertical farming, hypersensitive HVAC systems and clean room environments with air pressure differentials and automation.
(1)SINA is IDP's mobile, scalable, modular prefabricated fast deploying building system that can be used in healthcare, long-term care, correctional facilities, institutional space as well as accommodations and many other fields. SINA can contain ICU, acute care, isolation units, labs, pharmacies, and other features with complete pressurized infrastructure across the entire facility, a world's first at this scale. It can assist with hospital surge capacity to decrease overcrowding and provide emergency support infrastructure in variety of design when and where it's needed.
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
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.
SOURCE Drone Delivery Canada
Investor Relations: Mr. Michael Zahra, Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: [email protected]; Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: [email protected]
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