Volatus Aerospace Streamlines Capital Structure and Issues Long-Term Incentives
Volatus Aerospace Streamlines Capital Structure and Issues Long-Term Incentives
Volatus Aerospace Inc. (TSXV:FLT)(OTCQX:TAKOF)(Frankfurt:A3DP5Y/ABBA.F) ("Volatus" or the "Company") has, in line with TSX Venture Exchange (TSXV) guidelines and Volatus Aerospace's commitment to long-term growth, successfully converted $145,545 in preferred shares into common shares. This move, part of the original terms for the acquisition of UAViation Aerial Solutions Ltd in 2020, simplifies the Company's capital structure and enhances shareholder value. A total of 666,667 common shares were issued at a price of $0.12 per share, effectively creating value of $80,000. This results in an adjusted issue price of $0.22 per share, generating a profit of $65,545. This move reflects the Company's commitment to creating shareholder value and ensuring a robust financial foundation for future growth.
Additionally, in support of its commitment to aligning employee incentives with long-term shareholder value, Volatus Aerospace has issued a total of 7,609,000 stock options and Restricted Share Units (RSUs) to 109 employees under its approved stock option and RSU plans, with grants vesting over a period of up to 4 years. Reflecting the Company's prioritization of cost savings, CEO Glen Lynch has voluntarily chosen to forgo participation in the incentive program, allowing the benefits to extend across the organization. He continues to demonstrate his confidence in the Company's long-term success as a significant equity holder.
"These initiatives reflect our unwavering commitment to our employees, who bring extensive expertise in aviation, business, and engineering to drive our success," said Glen Lynch, CEO of Volatus Aerospace. "By aligning employee incentives with our strategic objectives, we ensure the continued delivery of innovative aerial solutions while fostering long-term shareholder value. We remain disciplined in our financial approach and focused on executing our growth strategy to benefit all stakeholders."
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 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.
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TSXV:FLT
Media Contact
Danielle Gagne
Head of Marketing and Communications, Volatus Aerospace
+1 833-865-2887
[email protected]
SOURCE: Volatus Aerospace Corp.
H.Bastin--RTC
