Latest news with #Volatus
Yahoo
29-05-2025
- Business
- Yahoo
Volatus Releases Q1 2025 Financial Results
Generated revenue of $5,713,158 in Q1 2025 Achieved 30% EBITDA improvement over Q1 2024 Continuation of optimization efforts post Volatus and Drone Delivery Canada merger of equals Subsequent to quarter end, closed $3,000,000 fully subscribed LIFE Offering Subsequent to quarter end, announced closing of shares for debt transaction of $2,646,000 and an additional $446,400, strengthening balance sheet Volatus will host a webinar and live Q&A on Monday, June 2, 2025, at 8 am ET (see registration link below). TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F) ("Volatus" or "the Company"), a leader in aerial solutions, is pleased to announce its financial results for the three months ended March 31, 2025 (Q1 2025). All dollar figures are stated in Canadian dollars, unless otherwise indicated. The Company generated revenues of $5,713,158 for the three months ended March 31, 2025, with a 32% gross margin. Adjusted EBITDA improved by 30%, or $402,004 between Q1 2024 and Q1 2025. The Company also and generated cash from operating activities of $1,448,565 in the quarter. Q1 2025 Financial Highlights: Adjusted EBITDA achieved a 30% year-over-year improvement, reducing the loss from ($1.39 million) in Q1 2024 to ($978K) in Q1 2025. Revenue was $5,713,158 compared to $6,623,741 in Q1 2024. This reduction reflects the Company's strategic repositioning toward a more resilient and profitable revenue mix, as well as temporary impacts from macroeconomic and geopolitical conditions. The Company witnessed increased demand for equipment in the US market driven by tariff policy changes, resulting in 47% quarter-over-quarter increase in equipment sales. The service revenue saw a contraction consistent with winter slowdown in Canada and the northern US regions. Gross profit for Q1 2025 was $1,829,973, representing a gross margin of 32%, compared to 34% in Q1 2024. This marginal decline is primarily attributable to the higher proportion of lower-margin equipment sales in the revenue mix for the quarter. Available cash on hand as of March 31, 2025, was $1,182,611 compared to $1,803,187 at December 31, 2024. Subsequent to quarter end, the Company closed an additional $3,000,000 in an equity issuance on May 1, 2025, resulting inproforma available cash of $4,182,611. The Company generated cash flow from operating activities of $1,448,565. Comprehensive loss was ($4,285,320) in Q1 2025 compared to ($2,991,319) in Q1 2024. On a pro forma basis, considering the combined operations of Volatus Aerospace Corp. and Drone Delivery Canada, total operating expenses (excluding depreciation, finance cost and share based payments) in Q1 2024 were $5,316,814. In comparison, the equivalent expense base in Q1 2025 declined by $1,780,668, underscoring the effectiveness of ongoing cost optimization efforts. Q1 2025 Operational Highlights: Major Regulatory Advancements Support National-Scale BVLOS Operations Announced partnership with Ondas Holdings to support and scale autonomous operations for border surveillance Announced partnership with Draganfly for Transformative Oil & Gas Exploration project Announced a partnership with DroneUp LLC to support the acceleration of drone deliveries in the United States Surpasses 75,000 flight hours in pipeline integrity monitoring Announced a partnership with Dufour Aerospace AG to support remote cargo deliveries Announced a partnership with Rigi Technologies S.A. to add autonomous drone delivery technologies in its portfolio of solutions Obtained Canada-wide approval from Transport Canada to conduct long-distance, remotely piloted beyond visual line of sight (BVLOS) drone operations at night in atypical airspace Announced a shares-for-debt transaction with respect to $2,646,000 of unsecured convertible debentures Subsequent to Q1 2025 Operational Highlights: Announced Broad National Expansion of Drone Operating Authorities Across Canada, Unlocking Scalable, High-Value Aerial Operations Fulfilled demonstration order with a G-20 Defense Organization Secured extension to Service Agreement with Canadian Government Announced closing of fully subscribed LIFE Offering of $3,000,000 Announced Shares-for-Debt Transaction for $446,400 Obtained clearance for high-value RPAS deployments in the oil & gas sector 'During Q1 2025, Volatus focused on navigating ongoing geopolitical challenges by diversifying our operations and securing key regulatory approvals, strategic steps that position us to convert a growing sales pipeline into realized revenue,' said Glen Lynch, CEO of Volatus Aerospace. 'As we enter the core flying season, we look forward to increasing operational efficiency through our Operations Command Centre, enabling us to better serve large enterprise and government clients while advancing toward profitability.' Webinar: In conjunction with this release, Volatus will host a webinar on Wednesday, June 2nd at 8:00 AM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review financial results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here. Registration Link: Audio Replay Options: An audio replay of the event will be archived on the Investor Relations page of the company's website here. Three months ended March 31 2025 2024 Revenue $ 5,713,158 $ 6,623,741 Direct costs $ 3,883,185 $ 4,397,985 Gross Profit 1,829,973 2,225,757 OPERATING EXPENSES Advertising & marketing $ 135,575 293,339 IT & tech $ 245,180 $ 256,802 Personnel $ 2,440,528 2,196,722 R&D $ 11,756 $ 11,840 Office cost $ 438,182 583,199 Travel $ 64,288 $ 57,621 External partner cost $ 200,637 200,072 Depreciation and amortization $ 1,496,425 1,098,088 Share based Payments $ 165,454 126,822 5,198,025 4,824,504 (Loss) from Operations (3,368,052 ) (2,598,748 ) OTHER ITEMS - INCOME/(EXPENSE) Finance cost $ (645,685 ) (379,106 ) Other income (expense) $ (3,468 ) (10,168 ) Gain (loss) on investments (58,963 ) Tax expenses (210,377 ) Gain (Loss) on disposal of property and equipment - (7,184 ) Foreign exchange translation $ 1,225 3,887 Net Loss $ (4,285,320 ) $ (2,991,319 ) Total comprehensive Income (loss) for the period attributable to: Owners of Volatus Aerospace Corp. (4,241,643 ) (2,915,143 ) Non-controlling interest (43,677 ) (76,176 ) (4,285,320 ) (2,991,319 ) Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Revenue 5,713,158 6,783,176 6,618,504 7,121,993 6,623,741 10,500,995 8,274,349 8,684,991 Direct costs 3,883,185 4,209,577 4,366,107 4,617,447 4,397,985 7,700,881 5,265,775 5,724,516 Gross Profit 1,829,973 2,573,599 2,252,397 2,504,546 2,225,757 2,800,114 3,008,574 2,960,475 32 % 38 % 34 % 35 % 34 % 27 % 36 % 34 % OPERATING EXPENSES Advertising & marketing 135,575 100,878 331,763 397,357 293,339 278,781 541,635 629,686 IT & tech 245,180 157,851 210,328 259,456 256,802 28,439 243,602 211,960 Personnel 2,440,528 1,958,572 1,787,175 1,515,536 2,196,722 1,312,983 1,727,086 1,788,347 R&D 11,756 25,429 4,011 - 11,840 771,861 104,832 364,263 Office cost 438,182 673,047 497,706 554,050 583,199 605,396 722,276 610,650 Travel 64,288 38,959 77,011 40,143 57,621 126,710 90,804 167,364 External partner cost 200,637 386,259 2,117,840 430,141 200,072 436,686 243,443 326,979 Depreciation and amortization 1,496,425 1,315,544 1,294,350 1,116,698 1,098,088 1,647,364 843,744 797,487 Share based Payments 165,454 77,523 124,861 126,822 126,822 173,671 195,372 178,361 5,198,025 4,734,061 6,445,045 4,440,202 4,824,504 5,381,891 4,712,793 5,075,097 (Loss) from Operations (3,368,052 ) (2,160,462 ) (4,192,648 ) (1,935,656 ) (2,598,748 ) (2,581,777 ) (1,704,219 ) (2,114,622 ) OTHER ITEMS - INCOME/(EXPENSE) Finance cost (645,685 ) (1,072,341 ) (992,806 ) (491,664 ) (379,106 ) (667,949 ) (425,671 ) (368,635 ) Other income (expense) (3,468 ) (133,884 ) (2,669 ) 153 (10,168 ) 14,955 (39,229 ) 41,237 Unrealized gain on investments (58,963 ) 247,661 - - Gain (Loss) on disposal of property and equipment - (1,541 ) (194,662 ) 319,044 (7,184 ) (125,476 ) 228,769 (0 ) Foreign exchange translation 1,225 92,541 (109,037 ) 25,508 3,887 (24,156 ) 19,946 (16,191 ) Net Loss (4,074,943 ) (3,028,025 ) (5,491,822 ) (2,082,615 ) (2,991,319 ) (2,775,864 ) (1,920,403 ) (2,458,211 ) Deferred Tax Income/ (Expense) (210,377 ) (100,899 ) 464,216 Net Loss (4,285,320 ) (3,128,924 ) (5,491,822 ) (2,082,615 ) (2,991,319 ) (2,311,647 ) (1,920,403 ) (2,458,211 ) Total comprehensive Income (loss) for the period attributable to: Owners of Volatus Aerospace Corp. (4,241,643 ) (3,099,840 ) (5,440,827 ) (2,070,150 ) (2,915,143 ) (1,997,089 ) (2,427,597 ) (2,427,468 ) Non-controlling interest (43,677 ) (29,084 ) (50,994 ) (12,465 ) (76,176 ) (314,559 ) 507,194 (30,743 ) (4,285,320 ) (3,128,924 ) (5,491,822 ) (2,082,615 ) (2,991,319 ) (2,311,647 ) (1,920,403 ) (2,458,211 ) Loss per share Basic and Diluted (0.01 ) (0.01 ) (0.02 ) (0.02 ) (0.02 ) (0.02 ) (0.02 ) (0.03 ) About Volatus Aerospace: Volatus Aerospace 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. Note Regarding Non-GAAP Measures: In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit, gross margin, and Adjusted EBITDA r Normalized EBITDA are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results. Throughout this release, reference is made to 'gross profit,' 'gross margin,' and 'Adjusted EBITDA' which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"). The Company defines Adjusted EBITDA as IFRS comprehensive loss excluding interest expense, depreciation and amortization expense, share-based payments, income tax expense, integration and due diligence costs, one time profit or loss (non-recurring), and impairment of goodwill, property, plant, and equipment and right-of-use assets (ROU). The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards ('IFRS'). Adjusted EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers and should not be construed as alternatives to comprehensive loss or income determined in accordance with IFRS. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the "Non-GAAP Measures and Additional GAAP Measures" section of the Company's most recent MD&A which is available on SEDAR. Forward-Looking Statement: 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 business plans and expectations of the Company; and (ii) 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 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 commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. CONTACT DETAILSAbhinav SinghviChief Financial officer+1 COMPANY WEBSITEhttps:// SOURCE: Volatus Aerospace in retrieving data Sign in to access your portfolio Error in retrieving data
Hamilton Spectator
29-05-2025
- Business
- Hamilton Spectator
Volatus Releases Q1 2025 Financial Results
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F) ('Volatus' or 'the Company'), a leader in aerial solutions, is pleased to announce its financial results for the three months ended March 31, 2025 (Q1 2025). All dollar figures are stated in Canadian dollars, unless otherwise indicated. The Company generated revenues of $5,713,158 for the three months ended March 31, 2025, with a 32% gross margin. Adjusted EBITDA improved by 30%, or $402,004 between Q1 2024 and Q1 2025. The Company also and generated cash from operating activities of $1,448,565 in the quarter. Q1 2025 Financial Highlights: Q1 2025 Operational Highlights: Subsequent to Q1 2025 Operational Highlights: 'During Q1 2025, Volatus focused on navigating ongoing geopolitical challenges by diversifying our operations and securing key regulatory approvals, strategic steps that position us to convert a growing sales pipeline into realized revenue,' said Glen Lynch, CEO of Volatus Aerospace. 'As we enter the core flying season, we look forward to increasing operational efficiency through our Operations Command Centre, enabling us to better serve large enterprise and government clients while advancing toward profitability.' Webinar: In conjunction with this release, Volatus will host a webinar on Wednesday, June 2nd at 8:00 AM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review financial results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here . Registration Link: Audio Replay Options: An audio replay of the event will be archived on the Investor Relations page of the company's website here . About Volatus Aerospace: Volatus Aerospace 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. Note Regarding Non-GAAP Measures: In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit, gross margin, and Adjusted EBITDA r Normalized EBITDA are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results. Throughout this release, reference is made to 'gross profit,' 'gross margin,' and 'Adjusted EBITDA' which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Adjusted earnings before interest, taxes, depreciation and amortization ('Adjusted EBITDA'). The Company defines Adjusted EBITDA as IFRS comprehensive loss excluding interest expense, depreciation and amortization expense, share-based payments, income tax expense, integration and due diligence costs, one time profit or loss (non-recurring), and impairment of goodwill, property, plant, and equipment and right-of-use assets (ROU). The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards ('IFRS'). Adjusted EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers and should not be construed as alternatives to comprehensive loss or income determined in accordance with IFRS. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the 'Non-GAAP Measures and Additional GAAP Measures' section of the Company's most recent MD&A which is available on SEDAR. Forward-Looking Statement: 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 business plans and expectations of the Company; and (ii) 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 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 commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. CONTACT DETAILS Abhinav Singhvi Chief Financial officer +1 833-865-2887 COMPANY WEBSITE SOURCE: Volatus Aerospace Inc.
Yahoo
27-05-2025
- Business
- Yahoo
Volatus Aerospace Announces Broad National Expansion of Drone Operating Authorities Across Canada, Unlocking Scalable, High-Value Aerial Operations
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV: FLT; OTCQX: TAKOF; Frankfurt: A2JEQU) ('Volatus', or the 'Company'), a leading provider of innovative aerial intelligence and logistics solutions, is proud to announce that Transport Canada has granted the Company additional nationwide Special Flight Operations Certificates (SFOC) that dramatically expand the scope and flexibility of Volatus' commercial drone operations and allows for expanded use of the Company's Operations Control Center (OCC) in Vaughan, ON. Expanded Nationwide Drone Operating Authorities Transport Canada has issued Volatus a newly amended SFOC unlocking a powerful suite of expanded drone operating privileges across Canada. These new authorities encompass operating procedure permissions that include: Canada-Wide BVLOS Authorization for Drone Operations Day and NightTo conduct beyond visual line-of-sight (BVLOS) operations using small drones (250g to 25kg) across the country, both day and night in uncontrolled airspace, outside of aerodrome environments, expanding the previously announced authority for nation-wide BVLOS authority at night. Proximity Flight Near InfrastructurePermission to operate an RPAS (Remotely Piloted Aircraft System) beyond visual line-of-sight without a pilot or visual observer maintaining visual contact within 100 feet vertically and 200 feet horizontally of structures such as buildings, towers, powerlines, and rail corridors, opening the door to close-proximity and long-range inspections, surveillance, and security patrols. Access to Restricted and Controlled AirspaceApproval to operate within Class F restricted airspace and NOTAM-defined zones, enabling missions in complex or dynamically managed environments. Operations in Northern Domestic AirspaceClearance for BVLOS drone flight operations at altitudes up to 400 feet AGL in Canada's Northern Domestic Airspace, supporting high-latitude missions for environmental monitoring, infrastructure inspection, cargo delivery and Indigenous community services. BVLOS Operations Without Visual ObserversSpecific authorization to operate RPAS beyond visual line-of-sight without the pilot or observer maintaining direct visual contact, leveraging Transport Canada-accepted detect-and-avoid technologies and operational protocols. Support for Remote and Automated SystemsThis enables integration with automated and remote drone operations, including nested (drone-in-a-box) solutions through accepted SORA-based risk mitigation and oversight. These regulatory advancements set the stage for scalable, automated, and commercially viable drone operations from coast to coast. Why It Matters: Regulatory Momentum with Commercial Impact Canada-Wide BVLOS, Day or Night – Using Transport Canada-accepted detect-and-avoid systems and safety protocols, Volatus is now authorized to fly drones across the country beyond visual line-of-sight, including at night. Heavy-Lift & High-Altitude Capability - The ability to fly certain drones over 25kg and above standard altitude ceilings unlocking extended operations in sectors such as cargo logistics, energy transmission line monitoring, search and rescue operations, and telecommunications tower inspections. Wildfire Response & Restricted Airspace Access - Volatus can operate in wildfire restricted airspace during active wildfire events—supporting government and firefighting agencies with aerial intelligence, hotspot detection, and real-time situational awareness. 'With these approvals, Volatus can more significantly and on a wider basis, provide clients with nationwide BVLOS drone services at scale for clients in energy, telecom, transportation, agriculture, mining, and public safety,' said Rob Walker, Chief Commercial Officer for Volatus. 'We can deploy heavier, longer-range drones capable of carrying larger payloads or extended sensors and we can commercialize our Operations Control Centre (OCC) offering a managed service for enterprise clients and partners—offering real-time drone oversight, mission management, and data collection including large scale deployment of drone-in-a-box solutions, nationwide with regulatory compliance.' Building on a Growing Portfolio of Regulatory Approvals These new authorizations build on the national nighttime BVLOS authority announced in March 2025, which permits drone operations beyond visual line-of-sight during legal night in uncontrolled airspace. In addition, Volatus holds a suite of existing and renewed Special Flight Operations Certificates (SFOCs) that collectively enable: Fixed-Corridor BVLOS for Medical Drone Deliveries approving operations beyond visual line-of-sight flights between hospitals, enabling medical cargo deliveries over an urban-adjacent environment with regulatory oversight and OCC-managed safety protocols, with ground-based radar serving as the detect-and-avoid (DAA) mitigation. High-payload operations with certain drones that exceed 25kg, supporting missions such as cargo transport, wildfire response, and infrastructure inspection. Operations in restricted wildfire airspace for forest fire support missions, including BVLOS flights above 400 feet AGL under agreements with provincial fire authorities. Altitude waivers for flights above standard ceiling limits in support of long-range and terrain-following missions. Use of Foreign Operators and Pilots, recognition of foreign operator and pilot credentials allows Volatus to deploy its multinational pilot workforce seamlessly across operations. With certified pilots based in Canada, the United States, and the United Kingdom, this flexibility enables rapid mobilization, efficient cross-border coordination, and global service delivery under a unified operational framework. Together, these approvals represent one of the most robust regulatory frameworks granted to any drone operator in Canada, positioning Volatus at the forefront of scalable, compliant, and high-impact drone services. 'These regulatory approvals don't just reflect our technical readiness, they position us at the forefront of Canada's evolving drone economy,' said Glen Lynch, CEO of Volatus. 'With the ability to fly further, higher, heavier—at any time and in many location scenarios—we're opening up a new scale of possibility for aerial intelligence and logistics.' Positioned for Leadership Volatus is among a select group of operators in Canada authorized to fly missions that meet Transport Canada's highest accepted safety assurance level for complex drone operations – SAIL 4. 'This means we've demonstrated that our technology, procedures, and risk mitigation strategies meet stringent safety standards required for higher-risk environments, including beyond visual line-of-sight flights in urban-adjacent areas. Operating at this level enables us to serve critical sectors, such as healthcare, infrastructure, and public safety—with safe, reliable, and compliant drone services at scale,' remarked Greg Colacitti, Chief Operating Officer for Volatus. 'These authorizations build upon one another to create an ecosystem where we can operate with flexibility, scale, and commercial viability,' Colacitti added. 'They give us a distinct operational advantage and make us the partner of choice for organizations seeking scalable, safe, and high-performance drone operations in Canada and beyond. About Volatus Aerospace: Volatus Aerospace 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 about the Shares-for-Debt Transaction, including information regarding the receipt of regulatory approvals, the conversion of the Debentures, the timing and anticipated benefits thereof, and 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 of the conversion of the Debentures; TSXV approval of the Shares-for-Debt Transaction; and including, but not limited to, those factors set forth in the Company's annual and quarterly management's discussion and analysis filed on 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. Contact Information:Rob Walker,
Globe and Mail
14-04-2025
- Business
- Globe and Mail
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 MEDIA CONTACT Danielle Gagne Head of Communications +1 833-865-2887
Associated Press
14-04-2025
- Business
- Associated Press
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 MEDIA CONTACT Danielle Gagne Head of Communications +1 833-865-2887 [email protected]
