Volatus Aerospace Successfully Closes LIFE Offering
TORONTO — Volatus Aerospace Inc. (TSXV:FLT) (OTCQX:TAKOF) (Frankfurt: ABB) is thrilled to announce the completion of its fully subscribed private placement under the listed issuer financing exemption, commonly referred to as the LIFE Offering. The Company issued a total of 19,230,770 units at a price of $0.52 per unit, leading to gross proceeds of around $10 million. Each unit consists of one common voting share and half of a common share purchase warrant, which allows the holder to purchase one common share at an exercise price of $0.76 for a period of 36 months following issuance.
Funding Use and Strategic Expansion
The net proceeds from this LIFE Financing are intended for a variety of purposes. Primarily, Volatus will focus on expanding its footprint in the defense sector. This strategic move aims to capitalize on the growing demand for aerial solutions and increase inventory of drone systems to better serve both domestic and international markets. In addition, the funds will be utilized for general working capital and corporate objectives, enhancing the Company's ability to meet rising operational demands.
Details on the Offering and Associated Costs
For the services related to this significant LIFE Offering, the Company compensated finders with a total of $600,000 in fees. This financing is pending final approval from the TSX Venture Exchange (TSXV), highlighting the Company's commitment to adhering to regulatory standards.
Regulatory Considerations and Acknowledgments
The Units from the LIFE Offering were made available to investors under the listed issuer financing exemption, ensuring that they are not bound by a lengthy hold period in line with Canadian securities laws. Potential investors should be aware that while this release provides vital information regarding the financing, it does not represent an offer to sell or a solicitation for offers to buy securities in any jurisdiction where such actions would be unlawful.
About Volatus Aerospace Inc.
Volatus is recognized as a pioneering leader in the provision of global aerial solutions tailored for intelligence and cargo initiatives. Leveraging over a century of collective expertise in aviation, the Company excels in delivering both piloted and remotely piloted aircraft systems across various sectors such as oil and gas, healthcare, public safety, and infrastructure. Volatus is devoted to advancing operational efficiency, safety, and sustainability by employing cutting-edge aerial technologies.
Contact Information
For further details regarding Volatus Aerospace and the LIFE Offering, interested parties can reach out to:
Abhinav Singhvi, Chief Financial Officer
abhinav.singhvi@volatusaerospace.com
+1 833-865-2887
Frequently Asked Questions
What is the amount raised in the LIFE Offering by Volatus?
Volatus raised approximately $10 million through its LIFE Offering.
What does each Unit consist of in the LIFE Offering?
Each Unit comprises one common voting share and half of a common share purchase warrant.
What is the purpose of the funds raised from the LIFE Offering?
The funds are intended for expansion into the defense segment, increasing drone inventory, and general corporate purposes.
Who can potential investors contact for more information?
Abhinav Singhvi, the Chief Financial Officer, is available for inquiries regarding the LIFE Offering.
Are the securities from the LIFE Offering subject to a hold period?
No, the securities issued under this exemption are not subject to a hold period based on applicable Canadian securities laws.
