Volatus Aerospace Inc. Announces Closing of Financing
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 ha completato un'offerta di collocamento privato, raccogliendo 2,77 milioni di dollari attraverso la vendita di 19.766.000 unità a 0,14 dollari per unità. Ogni unità comprende un'azione comune e un warrant esercitabile a 0,20 dollari per 24 mesi. L'azienda prevede di utilizzare i proventi per ricerca e sviluppo, spese in conto capitale, inventario e capitale circolante. L'offerta è stata gestita da Ventum Financial Corp. e Cormark Securities Inc., con l'azienda che ha pagato 193.706,80 dollari in commissioni in contante e ha emesso 1.383.620 unità di opzione di compensazione per gli agenti.
Volatus Aerospace ha completado una oferta de colocación privada, recaudando 2.77 millones de dólares a través de la venta de 19,766,000 unidades a 0.14 dólares por unidad. Cada unidad incluye una acción común y un warrant ejercible a 0.20 dólares durante 24 meses. La compañía planea utilizar los ingresos para investigación y desarrollo, gastos de capital, inventario y capital de trabajo. La oferta fue liderada por Ventum Financial Corp. y Cormark Securities Inc., con la empresa pagando 193,706.80 dólares en comisiones en efectivo y emitiendo 1,383,620 unidades de opción de compensación a los agentes.
Volatus Aerospace는 개인 투자 유치 공모를 완료하며 277만 달러를 모금했습니다. 이는 19,766,000개의 주식을 주당 0.14 달러에 판매한 결과입니다. 각 주식은 하나의 일반 주식과 24개월 동안 0.20달러에 행사할 수 있는 워런트를 포함합니다. 회사는 수익금을 연구 및 개발, 자본 지출, 재고 및 운영 자본에 사용할 계획입니다. 이 공모는 Ventum Financial Corp.와 Cormark Securities Inc.가 주도하였으며, 회사는 193,706.80달러의 현금 수수료를 지급하고 1,383,620개의 보상 옵션 주식을 에이전트에게 발행했습니다.
Volatus Aerospace a complété une offre de placement privé, levant 2,77 millions de dollars grâce à la vente de 19 766 000 unités à 0,14 dollar par unité. Chaque unité comprend une action ordinaire et un warrant exerçable à 0,20 dollar pendant 24 mois. L'entreprise prévoit d'utiliser les produits pour la recherche et le développement, les dépenses en capital, les stocks et le fonds de roulement. L'offre a été dirigée par Ventum Financial Corp. et Cormark Securities Inc., avec l'entreprise payant 193 706,80 dollars en commissions en espèces et émettant 1 383 620 unités d'options de compensation aux agents.
Volatus Aerospace hat eine Privatplatzierungsangebot abgeschlossen und 2,77 Millionen Dollar durch den Verkauf von 19.766.000 Einheiten zu je 0,14 Dollar pro Einheit gesammelt. Jede Einheit umfasst eine Stammaktie und eine Warrants, die für 24 Monate zu 0,20 Dollar ausgeübt werden können. Das Unternehmen plant, die Erlöse für Forschung und Entwicklung, Investitionsausgaben, Lagerbestände und Betriebskapital zu verwenden. Das Angebot wurde von Ventum Financial Corp. und Cormark Securities Inc. geleitet, wobei das Unternehmen 193.706,80 Dollar in Barprovisionen gezahlt und 1.383.620 Kompensationsoptionsscheine an die Agenten ausgegeben hat.
- Successfully raised $2.77 million in new capital
- No resale restrictions in Canada for units issued under Listed Issuer Financing Exemption
- Share dilution due to issuance of 19.77 million new units
- Additional potential dilution from 1.38 million compensation option units
Not for distribution to United States newswire services or for dissemination in the United States
TORONTO, ON / ACCESSWIRE / November 6, 2024 / Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQX:TAKOF)(Frankfurt:A3DP5Y, ABBA.F) ("Volatus" or the"Company") is pleased to announce that it has closed its previously announced commercially reasonable best efforts private placement of an aggregate of 19,766,000 units of the Company ("Units") at a price of
The Company intends to use the net proceeds of the Offering for research and development, capital expenditures, inventory and general corporate and working capital purposes.
The Offering was conducted by Ventum Financial Corp. and Cormark Securities Inc., as co-lead agents, together with Desjardins Securities Inc. and Raymond James Ltd. (collectively, the "Agents") pursuant to an agency agreement dated November 6, 2024. The Company paid to the Agents: (i) a cash commission of
The Units sold under the Offering were issued and sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "Listed Issuer Financing Exemption"). A copy of the offering document under the Listed Issuer Financing Exemption dated October 28, 2024, as amended and restated on November 5, 2024 (the "Offering Document") is available under the Company's profile at www.sedarplus.ca and on the Company's website at www.volatusaerospace.com. All Units issued pursuant to the Listed Issuer Financing Exemption are not subject to resale restrictions in Canada in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. All other securities not issued pursuant to the Listed Issuer Financing Exemption, including the Compensation Option Units, are subject to a statutory hold period in accordance with applicable Canadian securities laws, expiring on March 7, 2025.
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.
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 solutions for a wide array of industries, including oil and gas, energy utilities, public safety, and infrastructure. The Company is committed to enhancing operational efficiency, safety, and sustainability through cutting-edge aerial technologies. For more information, visit www.volatusaerospace.com.
Cautionary and 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, the timing and ability of the Company to obtain final approval of the Offering from the TSX Venture Exchange; use of proceeds from the Offering; 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 TSX Venture Exchange. 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 www.sedarplus.ca. 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 Volatus
abhinav.singhvi@volatusaerospace.com
+1 833-865-2887
Danielle Gagne,
Head of Marketing and Communications of Volatus
danielle.gagne@volatusaerospace.com
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 release.
SOURCE: Volatus Aerospace Inc.
View the original press release on accesswire.com
FAQ
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