News, events about Drone Delivery Canada CSE:FLT

UPS just tested a delivery drone on a farm outside of Tampa, Florida, with the UAV returning to the roof of the truck. The big feat? The vehicle already moved 2,000 feet down the road. "Drones won't replace our uniformed service providers," said UPS's Mark Wallace. "That's key, but in this case, it really is there to assist." The company also announced it would roll out Saturday ground delivery starting in April.

This would give them some serious money
2017-02-06 09:16 ET - News Release


Mr. Richard Buzbuzian reports

DRONE DELIVERY CANADA ANNOUNCES $7 MILLION SPECIAL WARRANT FINANCING

Drone Delivery Canada Corp. has entered into an engagement letter with GMP Securities LP for an offering on a fully marketed, best effort, private placement basis of special warrants of the company at a price per special warrant of 35 cents for aggregate gross proceeds of approximately $7-million. The company has also granted the agent an option to purchase up to an additional 15 per cent of the base offering of special warrants, which option is exercisable by giving notice to the company not less than 48 hours prior to the closing of the offering. Closing of the offering is expected to occur on Feb. 28, 2017, or such other date as the agent and the company may agree.

Drone Delivery arranges $7M special warrant financing

Drone Delivery Canada Corp (C:FLT)
Shares Issued 89,291,299
Last Close 2/3/2017 $0.39
Monday February 6 2017 - News Release

Mr. Richard Buzbuzian reports

DRONE DELIVERY CANADA ANNOUNCES $7 MILLION SPECIAL WARRANT FINANCING

Drone Delivery Canada Corp. has entered into an engagement letter with GMP Securities LP for an offering on a fully marketed, best effort, private placement basis of special warrants of the company at a price per special warrant of 35 cents for aggregate gross proceeds of approximately $7-million. The company has also granted the agent an option to purchase up to an additional 15 per cent of the base offering of special warrants, which option is exercisable by giving notice to the company not less than 48 hours prior to the closing of the offering. Closing of the offering is expected to occur on Feb. 28, 2017, or such other date as the agent and the company may agree.

Each special warrant will entitle the holder thereof to receive and without payment of additional consideration, one unit of the company consisting of one common share and one-half of one common share purchase warrant. Each whole Warrant, subject to customary adjustments, shall be exercisable into one (1) Common Share (a "Warrant Share") at an exercise price of $0.45 per Warrant Share for a period of two (2) years from the date of issue. If the volume weighted average price of the Common Shares on the CSE is equal to or greater than $1.00 for a period of 10 consecutive trading days then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 30 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date. The Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants.

The Company has agreed to use its best efforts to obtain a receipt for a final short form prospectus qualifying the distribution of the Units upon exercise of the Special Warrants (the "Qualification Condition") on or before the date that is 90 days following closing of the Offering (the "Qualification Deadline"). If the Prospectus Qualification does not occur before the Qualification Condition, each holder shall be entitled to receive, without payment of additional consideration, 1.05 Units per Special Warrant. Unless the Qualification Condition occurs, securities issued in connection with the Offering will be subject to a 4-month hold period from the date of issue.

The closing of the Offering is subject to the completion of formal documentation, including but not limited to, the execution of an agency agreement with the Agent in connection with the Offering and receipt of regulatory approvals, including approval of the CSE. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.

Looked at that video of Foremost, certainly looks like nothing is there, but I suppose that is the whole purpose of it. FLT should do a video of one of their test flights

Here is some info on Foremost, re today's update

www.ccuvs.com/foremost-centre/

Together with the Village of Foremost, the Canadian Centre for Unmanned Vehicle Systems (CCUVS) has established the Foremost Centre for Unmanned Systems based out of the Foremost Aerodrome.
Foremost Alberta was strategically chosen as the location for the establishment of this innovative training and development centre for Unmanned Aircraft Systems (UAS) technology. Geographically the region has unique attributes that make it an ideal location for the operation, development and training for UAS.

Good read, seems Drone Delivery is leading the way in Canada. I think their plan and approach is the right one. Long and strong!!

Nice article in Calgary Herald on Drone Delivery

“Our clients foresee using this technology as part of their business logistics moving forward into the future,” DiBenedetto said. “Initially, we want to launch in rural Canada and then, over time, bring the technology closer to an urbanized area.”

calgaryherald.com/business/local-busines...roved-uav-test-range

DJ, I don't think the market grasps the importance of this - it really points out that FLT is the leader in this field, maybe in all of North America. I am going to send out an update soon that will dig below the surface here

This news was just from November 7th, so FLT very quick to move as first mover for testing

Transport Canada presented the Mayor of Foremost Alberta with the letter approving the first test range in Canada for Beyond Visual Line of Sight (BVLOS) operations. Canada’s vast remote areas are ideally suited for numerous BVLOS applications. With their vast open terrain and restricted airspace to 18,000 feet the Foremost UAS Range provides the airspace and infrastructure to test the technologies and procedures to accelerate the growth of BVLOS UAS operations.

Both Canadian and foreign companies and academic institutions will have the opportunity to develop the next generation of UAV systems to promote the rapidly expanding needs of the oil and gas, mining, agriculture, forestry, environmental and other industrial and security sectors.

unmannedsystems.ca/unmannedcanada-2016-c...nduct-bvlos-testing/

Loved that video, brought a laugh and smile over holidays, Thanks

more awesome news with FLT expanding to Alberta

Drone Delivery Canada Corp. has formalized an agreement to expand its testing from the Waterloo region to now include a second province, namely, Foremost, Alta., Canada's first Transport Canada-approved drone UAV (unmanned aerial vehicle) test range in Canada. In Foremost, Alta., Drone Delivery Canada will be focusing on beyond-visual-line-of-sight (BVLOS) capabilities in an effort to move toward commercialization in late 2017/early 2018.

Highlights:

Drone Delivery Canada expands its current testing to include Transport Canada's first approved drone test range in Foremost, Alta.;
Drone Delivery Canada progressing on its compliant operator certification status to operate commercially beyond visual line of sight;
As testing advances, Drone Delivery Canada is actively progressing on further agreements with additional customers as demand remains very strong.
The Village of Foremost, with the assistance of the Canadian Centre for Unmanned Vehicle Systems (CCUVS), established the Foremost airspace for unmanned systems at Foremost, Alta. The Foremost UAS (unmanned aerial system) range offers a unique location for UAS research, development and testing in Canada with 700 square nautical miles of restricted airspace. It is the first drone test range approved by Transport Canada in the country with a mandate to aid development of commercial drone applications in Canada, including BVLOS capabilities.

"We are the first drone delivery company in Canada to commence commercial testing with our recently announced customers at the Foremost Aerodrome focusing on BVLOS capabilities," commented Tony Di Benedetto, chief executive officer of Drone Delivery Canada. "This progression marks a significant milestone for us as we move closer in obtaining our compliant operator certification status to operate commercially with our customers in Canada. To this end, we are now seeing greater visibility and our customer appetite for our drone delivery logistic platform remains very strong."

"We are delighted that Drone Delivery Canada will be testing at the Foremost UAS range," commented Ken Kultgen, Mayor of Foremost, Alta. "We are pleased that our community will be helping bring this innovative technology to Canadians."

Awesome video, was the entertainment for the day, maybe I put it up in the drone section

Santa's got a brand new sleigh. Check this out, absolutely crazy