TORONTO, April 24, 2024 /CNW/ - Drone Delivery Canada Corp. (TSXV:FLT) (OTCQX:TAKOF) (Frankfurt: A3DP5Y) or (Frankfurt: ABBA.F) (the "Company" or "DDC") is pleased to announce its 2023 financial results, and to provide a general corporate update. The Company is pleased to report that in 2023 it achieved its highest revenue to date, earning revenue of $1,239,356, which represents an increase of 50% in year over year growth. This was driven primarily by revenue from the contract with the Government of Canada related to testing of the Condor, which concluded in December 2023 and completion of the first milestone of the Canary testing contract with the Department of National Defence ("DND"). In addition, the Company reduced its net loss in 2023 by $3,450,067 or 26% from $13,414,231 to $9,964,164, largely due to a reduction in operating expenditures driven by personnel, and research and development expenditures. As such, the Company was able to reduce its cash used in operating activities from $11,943,111 to $7,676,569. The fourth quarter of 2023 was focused on servicing the DND contract and the implementation of the new DroneCare route, which became operational subsequent to December 31, 2023. DDC is also pleased to provide the following general corporate update on its activities: Canary Development During the year ended December 31, 2023, the Company completed the development of the Canary and deployed it to operate as part of the DND contract. As part of its continuous improvement plan, ...