Shares of Drone Delivery Canada Corp. (TSXV:FLT) have soared more than 100% so far in 2018 to its current price of $1.84
SmallCapPower | February 14, 2018: Drone Delivery Canada Corp. (TSXV:FLT) announced recently that it has been granted a Compliant UAV Operator Special Flight Operations Certificate (SFOC) by Transport Canada, this after achieving a Compliant UAS (Unmanned Aircraft System) in December 2017. Approval of this certificate is a major milestone for the Company, allowing its drones to fly beyond “line of sight” operations and is the starting point for the commercialization of drone delivery services in Canada. The next path for Drone Delivery Canada is to launch commercial pilot programs in northern Ontario, specifically Moose Factory and Moosonee. Shares of Drone Delivery Canada ended up 3% at $2.03 on Monday following a nearly 13% surge on Friday.
Mark Wuennenberg, Vice-President of Regulatory Affairs for Drone Delivery Canada, said, “The Company has been working around the clock to achieve compliant status and is both grateful and appreciative of being recognized as a professional and safe operator of unmanned aircraft (UAS) by Transport Canada. Realizing this milestone enables DDC to continue moving towards becoming a leader in drone delivery services for Canadians by Canadians across our vast geography.”
Although drones, or ‘Unmanned Aerial Vehicles’, have so far been used primarily as flying gadgets for fun, they are increasingly being tested for commercial purposes. Online retailers such as Amazon as well as logistic companies UPS and DHL are exploring ways to deliver packages to their customers with drones. While these companies use drones for delivering to their own customers primarily in urban settings, Drone Delivery Canada focuses on providing delivery solutions for businesses such as retailers, logistics and government agencies in rural areas.
Drone Delivery Canada, the first publicly-traded drone technology company in Canada, is focused on the development and implementation of its proprietary logistics software platform, using drones.
Shares of Drone Delivery Canada have soared more than 100% so far in 2018 to its current price of $1.84.
Disclosure: Neither the author nor his/her family own shares in the company mentioned above.
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