Drone Delivery Canada Submits Expression of Interest for $12M in Funding from Transport Canada's National Trade Corridors Fund
TORONTO, Jan. 28, 2019 /PRNewswire/ - Drone Delivery Canada 'DDC or the Company' (TSX.V:FLT, OTC: TAKOF), is pleased to announce it has submitted its Expression of Interest to participate in Transport Canada's National Trade Corridors Fund (NTCF) for a total request of $12 million dollars to deploy DDC's drone delivery solution in two remote locations.
"The vision of the Canadian Federal Government to modernize and improve transportation across Canada's north is consistent with DDC's commercialization strategy of servicing Canada's remote communities," commented Tony Di Benedetto, CEO. "Various government funding solutions exist to allow Canadian enterprise to help transform Canada's transportation systems. DDC looks to capitalize on this type of funding as we commercialize our Drone delivery solution in 2019."
Transport Canada's $2-billion National Trade Corridors Fund (NTCF) program helps fund infrastructure projects in Canada. The NTCF looks to fund infrastructure projects within Canada that help improve the flow of goods and people in Canada, increasing the flow of trade in and out of Canada and help Canada's transportation system better adapt to new technologies and innovation.
DDC's funding request is for the NTCF's northern call program which has dedicated up to $400 million for transportation infrastructure in the Territorial North (Yukon, Northwest Territories and Nunavut). The projects funded under this call will address transportation needs in the Territorial North, to improve safety, foster economic and social development and build on existing investments.
Complete details of Transport Canada's National Trade Corridors Fund can be found at: http://www.tc.gc.ca/en/programs-policies/programs/national-trade-corridors-fund.html
For more information, please visit www.dronedeliverycanada.com
About Drone Delivery Canada
Drone Delivery Canada 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 Software as a Service (SaaS) for government and corporate organizations.
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.
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SOURCE Drone Delivery Canada