Volatus Aerospace Secures Extension to Service Agreement with Canadian Government
MONTREAL, April 14, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A2JEQU) ("Volatus" or "the Company"), a leader in aerial solutions, proudly announces a one-year extension, the maximum allowable, to its Public Works and Government Services Canada (PWGSC) standing offer. Among the responsibilities of the PWGSC is to support federal departments and agencies in their daily operations as their central purchasing agent. This extension allows Volatus to continue providing UAV services to any department of the Canadian government until March 31, 2026. This announcement comes on the heels of the newly published Regulations Amending the Canadian Aviation Regulations (RPAS – Beyond Visual Line-of-Sight (BVLOS) and Other Operations), marking a significant milestone after years of industry advocacy, collaboration, and persistence. Additional extensions may be granted in subsequent years.
Initially added to Canada's National Master Standing Offer (NMSO) in November 2020 as the first UAV service provider, Volatus has set a precedent in the industry for its comprehensive range of services and coast-to-coast network of pilots. Qualified to handle all five streams of service identified in the NMSO—Media, Agriculture, Forestry and Fire Fighting, Infrastructure and Real Property, and Security and Emergency Response—Volatus is uniquely positioned to leverage the new BVLOS regulations. These regulations, set to take effect on November 4, 2025, enable routine beyond visual line-of-sight, extended visual line-of-sight, and sheltered operations. In addition, services provided will be further enhanced by Volatus' Canada-wide nighttime BVLOS operation authority, announced on March 26, which significantly enhances the company's operational flexibility. Combined, Volatus' capabilities and breadth of services remain unmatched in the industry.
"The continuation of the PWGSC enables us to quickly and efficiently support the demand for security and infrastructure investment of the Canadian Government as we work through these turbulent times,' said Rob Walker, Chief Commercial Officer for Volatus. 'Coupled with the new regulatory framework, Volatus will be able to expand the potential of commercially available drone technology enabling any department in the Canadian Government to capitalize on the benefits of long-range intelligence and cargo delivery RPAS operations. This is especially poignant with the growing demand for border and national security in Canada."
The newly enacted BVLOS regulations, officially published in Canada Gazette Part II, represent a transformative shift in the UAV industry, facilitating more advanced and extensive uses of drone technology across various sectors. With these regulations in place, Volatus is well-equipped to expand its operations, enhance service delivery, and continue its tradition of excellence and innovation in the UAV services industry.
About Volatus:
Volatus 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 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: FLT
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