Vaughan, Ontario’s Drone Delivery Canada (DDC) is set to go public on the Canadian Securities Exchange in Q1 2016 after a reverse takeover involving 2500527 Ontario Ltd., a wholly owned subsidiary of Asher Resources Asher Resources Corporation (ACN: TSX-V) on January 19, 2016.
Asher, a gold mining company, and Drone Delivery Canada have amalgamated so that Asher becomes no longer a mining issuer but a technology issuer.
“The company is going public to have easier access to capital to help fund the development of our drone development platform,” said DDC CEO Tony Di Benedetto. “We continue to develop the technology and are executing various levels of testing.”
Under the terms of the reverse takeover, Asher president Richard Buzbuzian will join DDC Corp. as president and director while DDC CEO Di Benedetto will remain as CEO with his brother Paul Di Benedetto will be chief technology officer.
In September, DDC announced a partnership with Shop.ca, with the goal of starting a drone delivery service for Canadian consumers set to be underway by 2018.
While at the moment it is illegal to deliver parcels by drone in Canada, pending legislation should clarify the rules by 2017, meaning that Drone Delivery Canada will be set to capitalize on drone delivery for the beginning of 2018.
Canada is farther ahead than the United States in establishing sensible drone regulations, too, which explains why Amazon has been testing out its delivery system in rural B.C. rather than in the United States.
The delivery service with Shop.ca will work by a DDC drone being sent out from one of Shop.ca’s fulfillment centres and will then fly to and hover approximately 20 above the point of delivery.
The package will be lowered down on a tether from the drone, to a point of delivery determined by geolocation of the mobile device of the person placing the order. The drone takes a picture to confirm delivery.
Drone Delivery Canada’s R&D operation has several design patents pending that involve the integration of next generation materials like graphene and carbon fiber, and also make use of 3D printing techniques to speed up concept design.
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