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Volatus Aerospace Corp
Symbol VOL
Shares Issued 113,943,079
Close 2022-11-01 C$ 0.37
Market Cap C$ 42,158,939
Recent Sedar Documents

Volatus Aerospace acquisition of Synergy Aviation

2022-11-01 20:41 ET - Acquisition

The TSX Venture Exchange has accepted for filing documentation relating to a share purchase agreement and a subsequent amending agreement dated Oct. 12, 2022, and Oct. 28, 2022, respectively, between Volatus Aerospace Corp. and several arm's-length parties. Pursuant to the agreements, the company shall acquire 51 per cent of the outstanding shares of Synergy Aviation Ltd., an Alberta-based company.

Consideration:

  • Over the course of 10 months from closing, $2.29-million in cash;
  • Option to sell the remaining 49 per cent of outstanding Synergy shares to the company, expiring in December, 2024, maximum of 3,392,308 common shares, with a minimum floor price of 65 cents, for a total maximum cash value of the shares of $2,205,000.

For further details, please refer to the company's news releases dated Oct. 13, 2022, and Oct. 31, 2022.

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