In an increasingly volatile word, this Canadian drone company is shoring up more strength
Volatus Aerospace (TSXV:FLT) announced a major financial boost with a C$3 million investment from Investissement Québec
This new funding increases the total support from the Québec government agency to C$10.5 million, up from the original C$7.5 million announced in October 2024
Volatus plans to use the funds to grow its operations and speed up the development of its drone and aerial technologies in key industries
Volatus Aerospace stock (TSXV:FLT) last traded at $0.23
Volatus Aerospace (TSXV:FLT) announced a major financial boost with a C$3 million investment from Investissement Québec. This new funding increases the total support from the Québec government agency to C$10.5 million, up from the original C$7.5 million announced in October 2024.
The investment comes in the form of a convertible debenture—a type of loan that can be turned into company shares. This debenture has a five-year term, carries an annual interest rate of 12.5 per cent, and gives Investissement Québec the option to convert the loan into Volatus shares at a price of $0.202 per share.
Volatus plans to use the funds to grow its operations and speed up the development of its drone and aerial technologies in key industries like oil and gas, energy utilities, public safety, and infrastructure. The company also aims to expand its services globally, especially as geopolitical tensions highlight the need for secure, local aerial solutions.
In a media statement, the company further elaborated, 'Volatus will also gain additional financial flexibility as it seeks to grow its services business globally. Global geopolitical turmoil has put a renewed focus on securing local assets, and Volatus' platforms and technology can play a key part of this strategy at scale and cost.' In that news release, CEO Glen Lynch called this additional support from Investissement Québec, a great vote of confidence as the team continues to grow in its target markets.
'This financing will enable the company to achieve our near-term profitability goal and reinforce our base from which to go after global projects,' he said.
Volatus provides global aerial solutions for intelligence and cargo serving the oil and gas, utilities, healthcare and public safety industries.
Volatus Aerospace stock (TSXV:FLT) last traded at $0.23 and has risen 58.62 per cent since the year began, and it is flying 15.00 per cent higher than where it was this time last year.
Join the discussion: Find out what everybody's saying about this drone stock on the Volatus Aerospace Inc. Bullboard and check out Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
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