Drone Delivery Canada Bolsters Balance Sheet

TORONTO, Feb. 24, 2021 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ or ABB.F) (the "Company" or "DDC") has further bolstered its balance sheet by $13 million as a result of a recent influx of incremental cash.

Based on 2020 Q3 filings and adding the net proceeds from the financing raise in December 2020, the company had approximately $26 million in cash and cash equivalents on hand.  Incremental to that, the Company has received approximately $13 million as a result of the exercise of outstanding convertible securities.  The Company continues to have no debt.  

The Company recently was named to the 2021 OTCQX BEST 50 companies.

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 in 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 QX 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

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