Welcome to our dedicated page for Volatus Aerospace news (Ticker: TAKOF), a resource for investors and traders seeking the latest updates and insights on Volatus Aerospace stock.
Volatus Aerospace Inc (TSXV:FLT, OTCQX:TAKOF) delivers cutting-edge drone solutions for cargo logistics, infrastructure inspections, and aerial surveillance. This news hub provides investors and industry professionals with timely updates on the company’s operational milestones, regulatory advancements, and strategic initiatives.
Access consolidated reports on earnings announcements, technology deployments, and partnership developments. Track progress in critical sectors including healthcare logistics through the DroneCare program, renewable energy inspections, and border security collaborations. All content is verified through primary sources to ensure accuracy.
Key updates include BVLOS operational expansions, RPAS technology innovations, and international market entries. Bookmark this page for streamlined access to Volatus Aerospace’s evolving role in shaping the future of unmanned aerial systems across global industries.
Volatus Aerospace (TSXV:FLT.V)(OTCQX:TAKOF) announces key organizational changes and integration progress. The company appointed Omar Mourad, CFA, from Investissement Québec, to its Board of Directors, bringing private equity expertise. Greg Colacitti, a long-time Drone Delivery Canada employee and patent co-inventor, has been promoted to Chief Operating Officer, replacing Steve Magirias. The company also reports completing phase one of the post-merger integration between Volatus Aerospace Corp and Drone Delivery Canada ahead of schedule, supporting efforts to commercialize proprietary technologies and remote operations capabilities.
Volatus Aerospace has completed a private placement offering, raising $2.77 million through the sale of 19,766,000 units at $0.14 per unit. Each unit includes one common share and one warrant exercisable at $0.20 for 24 months. The company plans to use the proceeds for research and development, capital expenditures, inventory, and working capital. The offering was led by Ventum Financial Corp. and Cormark Securities Inc., with the company paying $193,706.80 in cash commission and issuing 1,383,620 compensation option units to the agents.
Volatus Aerospace and Kongsberg Geospatial have announced a strategic collaboration to enhance Beyond Visual Line of Sight (BVLOS) operations for Remotely Piloted Aircraft Systems. The partnership involves integrating Kongsberg's IRIS Terminal software into Volatus' Operations Control Center (OCC) to provide real-time airspace awareness. Volatus will test, validate, and demonstrate the IRIS Terminal functionality to potential clients. The collaboration aims to secure regulatory approvals across multiple jurisdictions and drive new revenue opportunities through enhanced BVLOS capabilities in sectors like public safety, energy, and infrastructure.
Volatus Aerospace has successfully completed a major drone solar farm inspection project covering 2,250 acres and over 762,750 solar panels across 16 solar fields and 1 large substation. The company employed RGB and infrared drones alongside handheld thermal cameras, utilizing AI-powered software for data analysis and anomaly detection. The project represents a significant opportunity in the solar energy market, which is projected to reach $300 billion USD by 2032 with a 17.3% CAGR from 2023-2032. The inspection was conducted as a final phase before transferring the solar fields to their owners.
Volatus Aerospace has announced a brokered private placement to raise up to $5,000,000 through the issuance of up to 35,714,286 units at $0.14 per unit. Each unit includes one common share and one warrant exercisable at $0.20 for 24 months. An additional agents' option could increase proceeds to $5,750,000. The offering, expected to close around November 6, 2024, will fund research and development, capital expenditures, inventory, and working capital. The agents will receive a 7% cash commission and 7% broker warrants. Securities will be offered under the Listed Issuer Financing Exemption in Canada with no hold period for Canadian residents.
Volatus Aerospace (TSXV:FLT.V)(OTCQX:TAKOF) has secured $15 million in financing from major institutional investors. The funding comprises $7.5 million from Investissement Québec as a secured convertible debenture and $7.5 million from Export Development Canada (EDC) as a term loan. This financing will enable Volatus to expand operations and accelerate development of aerial solutions in key industries.
The company plans to relocate its head office to Québec and develop new activities there, including AI-based aerial solutions and unmanned delivery projects. Volatus intends to use the proceeds for debt repayment, inventory financing, capital expenditures, and working capital needs. The financing is expected to help Volatus achieve near-term profitability goals and support growth initiatives.
Volatus Aerospace Inc. (TSXV: FLT) (OTCQX: TAKOF), a leader in aerial solutions, has announced its participation in the 2024 Cantech Letter Investment Conference on October 9, 2024 in Toronto, Ontario. CEO Glen Lynch will deliver an investor presentation and engage in one-on-one meetings with investors at the event.
The conference will take place at the Arcadian Loft, 8th floor, 401 Bay Street, Toronto, ON. Interested parties can register by contacting tara@cantechletter.com. More information is available at the Cantech Letter website.
Lynch expressed enthusiasm about the opportunity, stating that the conference provides an excellent platform to strengthen connections within capital markets, enhance visibility, showcase achievements, and increase the company's profile among investor communities.
Volatus Aerospace has been ranked second on the 2024 Canada's Top Growing Companies list by The Globe and Mail's Report on Business. The company achieved an impressive 17,336% growth over the past three years, driven by its aerial solutions across various sectors. Volatus offers a range of services including aerial services, equipment sales, and technological solutions to clients globally.
CEO Glen Lynch expressed gratitude for the recognition, attributing the success to the team's dedication and client trust. The ranking, which highlights 416 of Canada's fastest-growing businesses, was based on three-year revenue growth.
In a corporate update, Volatus Aerospace issued 431,282 common voting shares to Ventum Financial Corp. as settlement for a $75,000 debt. The shares were issued at a deemed price of $0.1739, based on the 10-day volume weighted average price on the TSX Venture Exchange.
Volatus Aerospace (TSXV:FLT)(OTCQX:TAKOF) has marked a historic milestone at Edmonton International Airport (YEG) by participating in the launch of phase two of a drone project. This phase extends the drone flight path from YEG to Leduc and represents the first drone operation in Canada to safely intersect an active runway glide path. Operating under the Drone Delivery Canada brand, the project has already completed over 3,000 commercial drone flights, covering more than 8,500 kilometers in phase 1.
The company's CEO, Glen Lynch, highlighted the scalability of their RPAS technology and their ability to operate in diverse environments. Volatus is now exploring international growth opportunities in regions like Africa, the Arctic, and offshore sectors, where regulations are less restrictive. These markets present potential for broader drone applications in industries such as energy, logistics, and healthcare.
Volatus Aerospace Inc. (TSXV:FLT)(OTCQX:TAKOF) has received approval from Transport Canada to conduct beyond visual line of sight (BVLOS) drone cargo operations without visual observers for its DroneCare commercial project. This approval allows the company to use ground-based technology for detecting and avoiding conflicts with other aircraft on its hospital route from Milton to Oakville in the Greater Toronto Area.
The authorization marks a significant milestone, reducing the required personnel for the operation from eight to three, thereby improving the commercial viability of the program. This achievement follows the company's January 2024 announcement of partial BVLOS operations and its merger with Drone Delivery Canada Corp. on August 30, 2024.
The DroneCare program, which evolved from the 'Care By Air' project launched in November 2022, now offers a more scalable solution for healthcare logistics, including the transport of dangerous goods and essential medical supplies across hospitals in Ontario.
