Business
Drone Delivery Canada Announces Letter of Intent with Overseas Express Consolidators Inc.
Drone Delivery Canada Announces Letter of Intent with Overseas Express Consolidators Inc....
About this update from Volatus Aerospace Inc.
[{"type":"text","content":"\n \n \n \n Drone Delivery Canada Announces Letter of Intent with Overseas Express Consolidators Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 10, 2020\n \n /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ) (Frankfurt: ABB.F) (the \"\n \n Company\n \n \" or \"\n \n DDC\n \n \") 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 (\"\n \n LOI\n \n \"), effective\n \n December 9\n \n \n th\n \n , 2020, with Overseas Express Consolidators Inc. (\"\n \n OEC\n \n \").\n \n \n \n \n \n \n \n \n \n Under the terms of the LOI, the parties are cooperating to work towards a binding definitive agreement (the \"\n \n Agreement\n \n \"). 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\n \n Vaughan, Ontario\n \n . Anticipated projects on which the parties are focusing are routes for: First Nations communities across\n \n Canada\n \n , Canadian ports including shore-to-ship applications, and transactional routes connecting various airports in\n \n Canada\n \n , with potential subsequent expansion to other applications. All operations will be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations.\n \n \n \"OEC was the main funder of our currently operating GlobalMedic / Beausoleil First Nation project and we are pleased that they see the value of drone logistics and they are now looking for subsequent projects with DDC. Market response to our solution has been very favourable in\n \n Canada\n \n and internationally, and we are pleased with our ongoing momentum. OEC...