Volatus Aerospace Provides $2.4M CAD Drone and Training Package to a North American Disaster Response Entity

Rhea-AI Summary

Volatus Aerospace has finalized a $2.4M CAD deal to provide drones and training to a North American Disaster Response Entity. The agreement includes drones and ground support equipment, with delivery set for Q2 and Q3 and margins aligning with previous sales. This package aims to help the entity gather critical information during major community-impacting events. Volatus CEO Glen Lynch highlighted the challenge of sourcing compliant drones in the U.S. and emphasized the company's role in crafting customized solutions through their expert team.

Positive

• Volatus Aerospace secured a $2.4M CAD contract, contributing to its revenue.
• The deal maintains historical margin consistency, indicating stable profitability.
• Delivery spans Q2 and Q3, suggesting ongoing revenue generation within the fiscal year.

Negative

• None.

TORONTO, ON / ACCESSWIRE / June 19, 2024 / Volatus Aerospace Corp. (TSXV:VOL)(OCTQB:VLTTF) ("Volatus" or the "Company") announced today it has finalized the sale of a comprehensive drone solution and training package to a North American Disaster Response Entity with delivery to be finalized in Q2 and Q3. The package included drones and associated ground support equipment totaling $2.4M CAD with margins consistent with historical equipment sales done by the Company.

"The discussion around point of origin has made it a challenge in the U.S. to source reliable compliant drones and systems," said Glen Lynch, CEO of Volatus Aerospace. "Our subject matter experts, who have experience working with government entities and understand their unique needs, work closely with entities worldwide to identify the best systems packages for the task at hand and build a solution unique to their needs. What we provide can't be bought off a shelf."

The package will enable this disaster response entity to gather essential information rapidly in support of major events impacting communities.

About Volatus Aerospace:

Volatus Aerospace Corp. is a leading international provider of aerial intelligence solutions, using drones and commercial aircraft. 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. We are focused on 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

Glen Lynch
Chief Executive Officer
Volatus Aerospace Corp.
glen.lynch@volatusaerospace.com

SOURCE: Volatus Aerospace Corp.

View the original press release on accesswire.com

FAQ

What is the value of the drone and training package provided by Volatus Aerospace?

The value of the package is $2.4M CAD.

When will Volatus Aerospace complete the delivery of the drone package?

The delivery will be finalized in Q2 and Q3.

Which entity purchased the $2.4M CAD drone package from Volatus Aerospace?

A North American Disaster Response Entity purchased the package.

What challenges did Volatus Aerospace overcome to secure this drone deal?

Volatus overcame challenges related to sourcing reliable compliant drones in the U.S.

What is the stock symbol for Volatus Aerospace?

The stock symbol for Volatus Aerospace is VLTTF.