Volatus Aerospace Corp. Announces Distributorship Agreement with US Drone Manufacturer Inspired Flight

Rhea-AI Summary

Volatus Aerospace Corp. has signed a reseller agreement with Inspired Flight, a US-based NDAA-compliant drone manufacturer, to provide off-the-shelf blue sUAS qualified equipment. The agreement aims to meet client demands for reliable drones for infrastructure inspection. Volatus granted 3,057,500 stock options to 51 managers and employees, with an exercise price of $0.23 and vesting over four years.

Positive

• Volatus Aerospace Corp. has partnered with Inspired Flight to meet client demands for reliable off-the-shelf blue sUAS qualified equipment.
• The agreement focuses on providing drones for infrastructure inspection of government-funded or owned properties.
• Volatus granted 3,057,500 stock options to 51 managers and employees, with an exercise price of $0.23 and vesting over four years.

Negative

• None.

TORONTO, ON / ACCESSWIRE / August 11, 2023 / Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company") announces that on July 25^th, 2023 the Company has signed a reseller agreement with Inspired Flight, a US-based National Defense Authorization Act (NDAA) compliant drone manufacturer, to meet client demands for reliable off-the-shelf blue sUAS qualified equipment in the mid-sized class. Typically, this regulatory requirement applies to infrastructure inspection of government funded or owned properties for example power distribution, natural resources, and facilities.

"Volatus is thrilled to join forces with a key, reliable, US partner in the mid-sized UAS class," said Sean Falconer Managing Director of Equipment Sales for Volatus Drones. "Inspired Flight meets the key criteria we look for in a partner, with a focus on established reputation, ability to manufacture at scale, and mature reliability."

"We are dedicated to finding the best solutions for our clients, many of whom are facing restrictions on what drones they can purchase," explained Glen Lynch, CEO of Volatus Aerospace. "Inspired Flight provides them with the capabilities they need to conduct mission-critical missions, while keeping them compliant with rules and regulations."

This agreement is in line with other reseller contracts held by Volatus.

Corporate Update: Volatus has granted an aggregate of 3,057,500 stock options to a total of fifty-one managers and employees of the Company. Each stock option entitles the holder to purchase one common share of the Company for an exercise price of $0.23 at any time until August 11, 2028. Twenty-five percent (25%) of the stock options shall vest on the first anniversary of the date of grant and in equal quarterly installments over the following three years such that the entire options shall have vested and become exercisable on the fourth anniversary of the date of grant.

The granting of these options is subject to the terms of the Company's stock option plan and its standard form of the stock option agreement, in addition to any required approval of the TSX Venture Exchange.

About Volatus Aerospace:

Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance.

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 regarding: (i) the anticipated benefits of, and estimated revenue to be generated by, the master service agreement; (ii) the business plans and expectations of the Company; and (iii) 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 and revenues of the master service agreement to the Company; the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; meeting the continued listing requirements of the TSXV; and including, but not limited to, those factors set forth in the Company's Annual Information Form under the section "Risk Factors". 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.

TSXV: VOL

Contact Details

Luc Masse
EVP, Volatus Aerospace
+1 833-865-2887, ext 92002
luc.masse@volatusaerospace.com

SOURCE: Volatus Aerospace Corp.

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FAQ

What is the reseller agreement announced by Volatus Aerospace Corp.?

Volatus Aerospace Corp. has signed a reseller agreement with Inspired Flight, a US-based NDAA-compliant drone manufacturer, to provide off-the-shelf blue sUAS qualified equipment.

What is the purpose of the reseller agreement?

The agreement aims to meet client demands for reliable drones for infrastructure inspection of government-funded or owned properties, such as power distribution, natural resources, and facilities.

Who is Inspired Flight?

Inspired Flight is a US-based drone manufacturer that is compliant with the National Defense Authorization Act (NDAA).

How will the reseller agreement benefit Volatus Aerospace Corp.?

The partnership with Inspired Flight allows Volatus to provide clients with reliable drones that meet regulatory requirements while conducting mission-critical missions.

What is the significance of the stock options granted by Volatus?

Volatus granted 3,057,500 stock options to 51 managers and employees, allowing them to purchase common shares of the company at an exercise price of $0.23 until August 11, 2028. The options vest over four years.