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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Air Canada    AC   CA0089118776

AIR CANADA

(AC)
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Delayed Quote. Delayed Toronto Stock Exchange - 11/24 04:50:31 pm
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Air Canada : Drone Delivery Canada Announces Update on Beausoleil and Georgina Island Projects

10/21/2020 | 05:33pm EST

TORONTO, Oct. 21, 2020 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ or ABB.F) (the "Company" or "DDC") is pleased to announce that both the Beausoleil First Nation project ("BFN") and Georgina Island First Nation project ("GIFN") are operational.

BFN and GIFN were previously announced June 4th, 2020 and July 30th, 2020, respectively.

Both COVID-19 related projects were secured with the assistance of the Company's sales agent Air Canada (TSX: AC) and also the Pontiac Group.   The projects are similar in using DDC's Sparrow drone delivery solution intended to limit person-to-person contact on the island communities' ferry services by transporting COVID-19 related cargo such as personal protection equipment (PPE), hygiene kits, test kits, test swabs, etc by drone as an alternative delivery method.

BFN is an agreement between DDC and GlobalMedic (The David McAntony Gibson Foundation), a global humanitarian aid organization, and was majority financed by the OEC Group (Canada), a leading global logistics provider servicing clients in all major industries including aerospace, healthcare, global retail, automotive and manufacturing.   GIFN is a contract directly between DDC and GIFN.

"BFN has been flying for a few weeks, and GIFN started flying recently.  We are pleased to see both projects operational and look forward to seeing the meaningful benefits our solution can bring to these Indigenous communities. Difficult to access locations, time critical deliveries and limiting person-to-person contact are all ideal use cases for drone logistics.  These projects are more examples of the successful utilization and commercialization of our FLYTE drone delivery solution," said Michael Zahra, President & CEO of DDC.  

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

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA 8.67% 23.57 Delayed Quote.-55.29%
DRONE DELIVERY CANADA CORP. 9.59% 0.8 Delayed Quote.-3.61%
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Financials
Sales 2020 6 007 M 4 613 M 4 613 M
Net income 2020 -4 259 M -3 271 M -3 271 M
Net Debt 2020 6 394 M 4 911 M 4 911 M
P/E ratio 2020 -1,61x
Yield 2020 -
Capitalization 6 994 M 5 367 M 5 371 M
EV / Sales 2020 2,23x
EV / Sales 2021 1,41x
Nbr of Employees 22 200
Free-Float 73,8%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 24,60 CAD
Last Close Price 23,57 CAD
Spread / Highest target 48,5%
Spread / Average Target 4,37%
Spread / Lowest Target -15,1%
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Managers
NameTitle
Calin Rovinescu President, Chief Executive Officer & Director
Vagn Ove Sørensen Chairman
Michael Stewart Rousseau Chief Financial Officer & Deputy CEO
Catherine Dyer Chief Information Officer & Senior Vice President
Michael M. Green Independent Director
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