Latest news with #VolatusAerospace
Yahoo
a day ago
- Business
- Yahoo
Volatus Announces $4,000,000 Non-Brokered LIFE Financing
Not for distribution to United States newswire services or for dissemination in the United States. Use of proceeds includes expansion into global markets and expansion of drone system inventory in response to changing regulatory and geopolitical environment, and investment into Arctic and remote operations infrastructure. Policy signals from Canadian Federal Government (June 9, 2025, announcement on defense spending, NATO targets and domestic drone capabilities) and Canada's Financial Commitment to Ukraine (June 17, 2025, $4.3 billion commitment, including logistics and defense-adjacent technologies) present various growth opportunities for the Company. TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV:FLT) (OTCQX:TAKOF) (Frankfurt: ABB) ('Volatus' or the 'Company') is pleased to announce that it has filed an offering document in connection with a non-brokered private placement of up to 20,000,000 units of the Company (the 'Units') at a price of $0.20 per Unit (the 'Issue Price') for gross proceeds of up to $4,000,000.00 (the 'LIFE Financing'). Each Unit will be comprised of one common voting share in the capital of the Company ('Common Share') and one-half of one Common Share purchase warrant of the Company (each whole warrant, a 'Warrant'). Each Warrant will entitle the holder thereof to purchase one Common Share (each, a 'Warrant Share') at an exercise price of $0.30 per Warrant Share for a period of 36 months following the date of issuance. The Company intends to use the net proceeds of the LIFE Financing for expansion into global markets, investment into Artic and remote operations infrastructure, inventory, and general corporate and working capital purposes. The LIFE Financing is expected to close on or around June 26, 2025 or such other dates as the Company may decide (the 'Closing Date'). The LIFE Financing is subject to customary conditions including, but not limited to, receipt of all necessary TSX Venture Exchange ('TSXV'), regulatory and other approvals. The LIFE Financing may be closed in multiple tranches. The Company may choose to pay eligible finders a cash fee of up to 6% of the gross proceeds of the LIFE Financing. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the '1933 Act') or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ('NI 45-106'), the Units will be offered for sale to purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the 'Listed Issuer Financing Exemption'). Since the LIFE Financing is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued to Canadian resident subscribers in the LIFE Financing will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the LIFE Financing that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read this offering document before making an investment decision. About Volatus Aerospace Inc. Volatus is a leader in innovative global aerial solutions for intelligence and cargo. With over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems for a wide array of industries, including oil and gas, energy utilities, healthcare, public safety, and infrastructure. The Company is committed to enhancing operational efficiency, safety, and sustainability through cutting-edge aerial technologies. For more information, visit Forward-Looking Statements Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding closing and the expected closing date of the LIFE Financing; TSXV approval of the LIFE Financing; use of proceeds from the LIFE Financing; and the business, strategy, products, corporate vision, plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals, including but not limited to approval of the TSXV. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. For further information, please contact: Abhinav Singhvi, CFO of 833-865-2887 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Volatus Aerospace Inc. Secures $3 Million in Financing from Existing Major Institutional Investor and Provides Corporate Update
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: ABB) ('Volatus' or the 'Company'), a leader in global aerial solutions, is pleased to announce the successful closing of a $3 million private placement (the 'Financing') from Investissement Québec. Pursuant to the Financing, the Company entered into an amended and restated secured convertible debenture (the 'Debenture') increasing the principal amount of Investissement Québec's original investment of $7.5 million, as announced in the Company's news release dated October 21, 2024, to an aggregate of $10.5 million. The Financing will allow Volatus to grow its operations and accelerate the development of its aerial solutions in key sectors ahead of the 2025 season, including oil and gas, energy utilities, public safety, and infrastructure. 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. 'We are honored to have additional support from Investissement Québec, which is a great vote of confidence as we continue to grow in our target markets', said Glen Lynch, CEO of Volatus. This Financing will enable the Company to achieve our near-term profitability goal and reinforce our base from which to go after global projects.' The Debenture, with a term of five years, will be senior secured and convertible at the holder's option into common voting shares of Volatus (the 'Common Shares') at a conversion price of $0.202 per Common Share (the 'Conversion Price'). The Debenture will bear interest at a rate of 12.5% per annum until its maturity date on October 21, 2029 (the 'Maturity Date'). The interest portion for the first three-year period will be initially non-cash interest, and capitalized semi-annually, and convertible, at the holder's option at the then market price of the Common Shares as permissible by securities regulations and the rules of the TSX Venture Exchange (the 'TSXV'), while the interest portion for the last two years will be payable, semi-annually, in cash until the Maturity Date, unless the Debenture is otherwise converted at the Conversion Price, at any time and at the holder's option before the Maturity Date. The Company intends to use the net proceeds from the Financing for financing inventory, capital expenditures, working capital and general corporate purposes. Certain existing aircraft related financing debt will remain secured in priority to the Debenture. Corporate Updates Volatus is also pleased to announce that, further to its press release dated May 22, 2025, the Company has completed its previously announced shares-for-debt transaction (the 'Shares-for-Debt Transaction') and issued a total of 3,720,000 units of the Company (the 'Settlement Units'), settling the principal and accrued and unpaid interest in the amount of $446,400.00 owing to holders of unsecured non-convertible debentures of the Company. Each Settlement Unit is comprised of one Common Share (a 'Settlement Share') and one common voting share purchase warrant of the Company (a 'Settlement Warrant'), with each Settlement Warrant exercisable to purchase one additional Common Share at an exercise price of $0.20 per Common Share for a period of 36 months from the date of issuance. The Debenture and Settlement Warrants will not be listed on a public stock exchange. The Financing and the Shares-for-Debt Transaction remain subject to the final approval of the TSXV. The Debenture, the Common Shares issuable upon conversion of the Debenture and the securities issuable in connection with the Shares-for-Debt Transaction are subject to a statutory hold period of four months plus a day from the date of issuance of the Debenture and Settlement Units, as applicable, in accordance with applicable securities legislation and policies of the TSXV. Additionally, the Settlement Shares and the Common Shares issuable upon the conversion of the Debenture or the exercise of the Settlement Warrants will not be listed on a U.S. public stock exchange and have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Additionally, in support of its commitment to aligning employee incentives with long-term shareholder value, the Company has issued a total of 2,900,000 restricted share units ('RSUs') to employees under its approved equity incentive plan. CEO Glen Lynch has voluntarily chosen to forgo participation in this RSU grant, allowing the benefits to extend across the organization. He continues to demonstrate his confidence in the Company's long-term success as a significant equity holder. About Volatus Aerospace: Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems. We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions. Forward-Looking Information This news release contains statements that constitute 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information about the Financing, the Debenture and the Shares-for-Debt Transaction, including information regarding the use of proceeds of the Financing and TSXV final approval of the Financing and the Shares-for-Debt Transaction. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs of management as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to TSXV final approval of the Financing and the Shares-for-Debt Transaction and including, but not limited to, those factors set forth in the Company's annual and quarterly management's discussion and analysis filed on Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Contact Information:Abhinav Singhvi, CFO +1-833-865-2887Sign in to access your portfolio
The Market Online
a day ago
- Business
- The Market Online
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.
Hamilton Spectator
29-05-2025
- Business
- Hamilton Spectator
Volatus Releases Q1 2025 Financial Results
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F) ('Volatus' or 'the Company'), a leader in aerial solutions, is pleased to announce its financial results for the three months ended March 31, 2025 (Q1 2025). All dollar figures are stated in Canadian dollars, unless otherwise indicated. The Company generated revenues of $5,713,158 for the three months ended March 31, 2025, with a 32% gross margin. Adjusted EBITDA improved by 30%, or $402,004 between Q1 2024 and Q1 2025. The Company also and generated cash from operating activities of $1,448,565 in the quarter. Q1 2025 Financial Highlights: Q1 2025 Operational Highlights: Subsequent to Q1 2025 Operational Highlights: 'During Q1 2025, Volatus focused on navigating ongoing geopolitical challenges by diversifying our operations and securing key regulatory approvals, strategic steps that position us to convert a growing sales pipeline into realized revenue,' said Glen Lynch, CEO of Volatus Aerospace. 'As we enter the core flying season, we look forward to increasing operational efficiency through our Operations Command Centre, enabling us to better serve large enterprise and government clients while advancing toward profitability.' Webinar: In conjunction with this release, Volatus will host a webinar on Wednesday, June 2nd at 8:00 AM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review financial results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here . Registration Link: Audio Replay Options: An audio replay of the event will be archived on the Investor Relations page of the company's website here . About Volatus Aerospace: Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions. Note Regarding Non-GAAP Measures: In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit, gross margin, and Adjusted EBITDA r Normalized EBITDA are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results. Throughout this release, reference is made to 'gross profit,' 'gross margin,' and 'Adjusted EBITDA' which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Adjusted earnings before interest, taxes, depreciation and amortization ('Adjusted EBITDA'). The Company defines Adjusted EBITDA as IFRS comprehensive loss excluding interest expense, depreciation and amortization expense, share-based payments, income tax expense, integration and due diligence costs, one time profit or loss (non-recurring), and impairment of goodwill, property, plant, and equipment and right-of-use assets (ROU). The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards ('IFRS'). Adjusted EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers and should not be construed as alternatives to comprehensive loss or income determined in accordance with IFRS. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the 'Non-GAAP Measures and Additional GAAP Measures' section of the Company's most recent MD&A which is available on SEDAR. Forward-Looking Statement: This news release contains statements that constitute 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. CONTACT DETAILS Abhinav Singhvi Chief Financial officer +1 833-865-2887 COMPANY WEBSITE SOURCE: Volatus Aerospace Inc.
Yahoo
22-05-2025
- Business
- Yahoo
Volatus Aerospace Inc. Announces Shares-for-Debt Transaction
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / TORONTO, May 22, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A2JEQU) ('Volatus' or the 'Company'), a leader in global aerial solutions, is pleased to announce a proposed shares-for-debt settlement aimed at enhancing shareholder value and strengthening the Company's balance sheet. The Company has reached an agreement, subject to receipt of TSX Venture Exchange ('TSXV') approval, with holders of unsecured non-convertible debentures of Volatus Aerospace Corp., a wholly-owned subsidiary of the Company (the 'Debentures'), to settle the outstanding principal and accrued and unpaid interest owing under the Debentures as at the maturity date, being May 23, 2025, in the aggregate amount of $446,400 in consideration for the issuance of an aggregate of 3,720,000 units of the Company (the 'Settlement Units') at a deemed price of $0.12 per Settlement Unit (the 'Shares-for-Debt Transaction'). Each Settlement Unit will be comprised of one common voting share of the Company (a 'Settlement Share') and one common voting share purchase warrant of the Company (a 'Settlement Warrant'), with each Settlement Warrant exercisable to purchase one additional common voting share of the Company at an exercise price of $0.20 per share for a period of 36 months from the date of issuance. The securities issued under the Shares-for-Debt Transaction will be subject to a statutory hold period expiring four months and one day from the date of issuance, in accordance with applicable securities laws and TSXV policies. Closing of the Shares-for-Debt Transaction is subject to all required regulatory approvals including that of the TSXV. In the event the Company does not obtain regulatory approval to complete the Shares-for-Debt Transaction, the Company will not proceed with the Shares-for-Debt Transaction at its discretion. None of the securities issuable in connection with the Shares-for-Debt Transaction will be registered under the United States Securities Act of 1933, as amended, or state securities laws and none may be offered or sold in the United States, except under circumstances that do not require registration under the U.S. Securities Act or any applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Volatus Aerospace: Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions. Forward-Looking Information This news release contains statements that constitute 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information about the Shares-for-Debt Transaction, including information regarding the receipt of regulatory approvals, the conversion of the Debentures, the timing and anticipated benefits thereof, and expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs of management as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the anticipated benefits of the conversion of the Debentures; TSXV approval of the Shares-for-Debt Transaction; and including, but not limited to, those factors set forth in the Company's annual and quarterly management's discussion and analysis filed on Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Contact Information:Abhinav Singhvi, CFO +1-833-865-2887
