09:00:25 EDT Fri 29 Mar 2024
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Volatus Aerospace Corp
Symbol VOL
Shares Issued 113,943,079
Close 2023-05-31 C$ 0.29
Market Cap C$ 33,043,493
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Volatus approved to help fight wildfires in Alberta

2023-06-01 10:29 ET - News Release

Mr. Walter Weselowski reports

VOLATUS AEROSPACE PILOTS APPROVED TO SUPPORT WILDFIRE SUPPRESSION IN ALBERTA WITH DRONES

Volatus Aerospace Corp. has passed Alberta Wildfire Services' Hinton GRID Testing evaluation process to become a qualified vendor providing infrared imaging services from drones for wildfire suppression. Hinton GRID Testing establishes whether vendors can meet criteria on target sensitivity, accuracy and data delivery based on the needs of fire operations and is a requirement to provide infrared services in Alberta. This standard is recognized by other provincial fire services.

"Volatus is now on an approved vendor call list of infrared drone imaging service providers in the province of Alberta to help Alberta Wildfire Services," explained Walter Weselowski, team lead, special flight operations, Volatus Aerospace, who initially qualified on the GRID in 2011 for rotary IR operations and has 15 years of wildfire infrared hotspot mapping experience across Canada on some of the largest priority fires in several provinces. "Although many drone pilots are wanting to help with wildfire suppression, safely flying a drone in complex wildfire environments while collecting accurate and reliable hotspot data is a skill requiring specific knowledge, qualifications and experience."

Wildfires have become an increasing threat to life and property, especially in Alberta, which is already experiencing a challenging fire season. The information infrared imaging provides is essential to firefighters on the ground for actioning critical areas, detecting hotspots, and ensuring that fires are fully extinguished and pose no threat of reigniting.

This approval follows shortly after Volatus's approval on May 3, 2023, to fly beyond visual line of sight and above 400 feet in support of fire suppression agencies across Canada, and marks the next milestone in the company's ability to support public safety agencies in Canada.

Corporate update

Volatus has received an extension from the TSX Venture Exchange for its proposed non-brokered private placement arranged on April 13, 2023, of up to 250 convertible debenture units of the corporation at a price of $1,000 per debenture unit for aggregate gross proceeds of up to $250,000. The extended final date for acceptance of the offering is June 30, 2023.

All terms of the offering remain unchanged, and the company intends to use the net proceeds of the offering for research and development, and for general working capital purposes. The company may pay a finder's fee on the offering within the amount permitted by the policies of the TSX-V. All securities issued in connection with the offering, including any securities issuable upon conversion or exercise thereof, will be subject to a statutory hold period of four months and one day from the date of issuance of the debenture units. The offering is subject to final approval by the TSX-V.

The debenture units will be offered and sold by private placement in Canada, pursuant to exemptions from the prospectus requirements under National Instrument 45-106 -- Prospectus Exemptions, and in certain other jurisdictions on a basis that does not require the qualification or registration of the securities offered, or any underlying securities.

About Volatus Aerospace Corp.

Volatus Aerospace is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety and defence markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D (research and development), design and manufacturing. Through its subsidiary, Volatus Aviation, the company is 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.

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