Drone Delivery Canada Corp (OTCMKTS:TAKOF) jumped 12.5% after announcing that it has become the maiden public drone delivery firm to receive a domestic cargo permit under Air Transport Regulations and Canada Transportation Act (ACT).
The license usually given to airlines providing cargo and passenger services is a massive step for the company in its continued scaling and expansion of operations. Most importantly, the CTA license is necessary for all air carriers looking to offer scheduled air services in the country regardless of whether they are passengers or cargo. With the award of the CTA license, the company continues to advance to routines scalable and sustainable cargo delivery services seeking to address opportunities and logistic challenges.
The company acknowledged the assistance and support offered by the Transport Canada Civil aviation and Canadian transportation Agency. Drone delivery Canada also announced that its upcoming special and annual shareholders meeting would be held at the Irwin Lowy LLP officer on July 29, 2021, starting at 1:00 PM eastern time. So in the coming weeks, TAKOF is a stock to watch.
Market Reaction:
On Tuesday, TAKOF stock surged 12.54% at $1.08 with more than 555k shares, compared to its average volume of 152k shares. The stock has moved within a range of $0.9531 – 1.0891 after opening the trade at $0.9531. Over the past 52-week, the stock has been trading within a range of $0.4520 – 2.0100.
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