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TORONTO, Dec. 10, 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 9
OEC").
Under the terms of the LOI, the parties are cooperating to work towards a binding 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 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 routes for: First Nations communities across Canada, Canadian ports including shore-to-ship applications, and transactional routes connecting various airports in Canada, with potential subsequent expansion to other applications. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.