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Drone company trading on TSXV

Drone Delivery Services was accepted for listing in late December.
Toronto-based Drone Delivery Canada is developing a system that uses drones to transport food, medicine and other goods to Canada’s remote Northern communities. (DDC photo)

Common shares of Drone Delivery Canada have begun trading on the TSX Venture Exchange (TSXV).

The Vaughan-based company was accepted for listing on the TSXV in December and started trading on the market on Dec. 27 under the symbol FLT. The company is additionally listed on the U.S. OTC Q B market and the Frankfurt exchange in Germany.

Drone Delivery Canada is developing drone technology for use in delivering goods through depot-to-depot and depot-to-customer models. It is currently testing its proprietary technology in delivering goods to remote Indigenous communities in Northern Ontario.

The company reached a milestone earlier in December after receiving notice that its X1000 Sparrow cargo delivery drone was in compliance with the Transport Canada UAS standard – the first drone of its kind to be accepted under the program.

The company said this marks the first of three regulatory components required to receive a UAS Operator Special Flight Operations Certificate and it expects to reach the other two components within the first quarter of 2018.

The benchmark is also the first requirement to allow the company to conduct operations beyond visual line of sight.