Business
Drone Delivery Announces Filing of Amendment to Notice of Articles and Articles
Toronto, Ontario--(Newsfile Corp. - June 15, 2022) - Drone Delivery Canada Corp. (TSXV: FLT) (...
About this update from Volatus Aerospace Inc.
[{"type":"text","content":"Drone Delivery Announces Filing of Amendment to Notice of Articles and ArticlesToronto, Ontario--(Newsfile Corp. - June 15, 2022) - Drone Delivery Canada Corp. (TSXV: FLT) (OTCQX: TAKOF) (FSE: A2AMGZ) (FSE: ABB) (the \"Company\" or \"DDC\") is pleased to announce that it has filed an amendment of its notice of articles and articles in order to implement a variable voting system by creating two new classes of shares, variable voting shares and common voting shares, in accordance with the Business Corporations Act (British Columbia), and to address various matters relating to the new variable voting system and other matters. As disclosed in its management information circular dated April 5, 2022 (the \"Circular\"), the amendments to the articles of the Company allow the Company to continue to meet the Canadian ownership requirements under the Canada Transportation Act (the \"Act\"), in order to obtain its domestic air service operating license to transfer cargo using aircraft, under section 61 of the Act. The amendments were approved by shareholders of the Company at its annual general and special meeting held on May 11, 2022 (the \"Meeting\"). For more information, please refer to the Circular available under Company's profile on SEDAR at www.sedar.com. The amendments ensure that the Company is compliant with the Canadian ownership requirements under the Act, and have resulted in the Company receiving a permanent licence for the provision of domestic air services from the Canadian Transportation Agency. The common voting and variable voting shares are expected to commence trading on the TSX Venture Exchange on or about June 21, 2022, under the Company's current stock symbol \"FLT\". A new CUSIP number has been obtained for the common voting and variable voting shares to replace the previous CUSIP number. A letter of transmittal (\"Letter of Transmittal\") for the surrender of certificates representing common shares for use in exchanging those certificates for common voting and variable voting shares certificates was mailed shareholders with the Circular. The Letter of Transmittal contains instructions on how registered shareholders are to exchange their common share certificates. The Letter of Transmittal, when properly completed and returned together with a certificate or certificates representing common shares and all other req...