Drone Delivery Canada Corp (OTCMKTS:TAKOF) has announced signing of a commercial, definitive agreement, starting July 15, 2021 with University of British Columbia deploying DDC’s patented drone delivery solution at the Stellat’en First Nation for UBC’s ‘Remote Communities Drone Transportation Initiative’ program.
The project will ensure defined-route deliveries harnessing DDC’s Sparrow drone as well as its DroneSpottakeoff besides additional drone flight infrastructure, which would be utilised for transporting a variety of cargo benefitting Stellat’en First Nation and the Village of Fraser Lake.
The company will begin deployment of 2021 site infrastructure summer and is hoping to commence drone delivery services by second half. While the agreement term is for one year, this deployment will be the firm’s fourth First Nations project and first Canada’s British Columbia.
Operations will be done following Canadian protocols and flights would be monitored from its Control Centre located in Vaughan, Ontario. Dr. Michael Allard, Vice Dean, Health Engagement, UBC Faculty of Medicine, opined that this would enable the firm to learn how the transportation technology can be utilised for meeting community needs.
Chief Robert Michell of the Stellat’en First Nation, said that the drone transport can increase access to Covid-19 testing as well as medication avoiding travel and the potential of the initiative is remarkable.
Market Reaction:
On Thursday, TAKOF stock fell 1.65% at $0.9409 with more than 73k million shares, compared to its average volume of 189k shares. The stock had moved within a range of $0.9110 – 0.9723 after opening the trade at $0.9501. Over the past 52-week, the stock has been trading within a range of $0.4520 – 2.0100.
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