Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") is pleased to announce that the Company has been issued a Canadian Transportation Agency (CTA) License for domestic service, all-cargo aircraft. This license builds on the existing capabilities authorized by CTA licenses held by Volatus subsidiaries Partner Jet Inc. (Volatus Aviation) and Synergy Aviation.
The addition of this license allows the Company to build its drone cargo capability under the Volatus brand in preparation for the anticipated Transport Canada/FAA regulatory changes.
“Positioning Volatus with this license is an important step toward our long-term vision of drone cargo operations, when we are scheduled to take delivery of the first 3.8 tonne Natilus Kona uncrewed regional feeder aircraft (announced in a press release on January 25, 2022),” says Glen Lynch, CEO of Volatus Aerospace Corp. “It is still early days for large, commercial drone cargo and our primary revenues for the next few years will continue to come from data, analytics, intelligence and equipment sales.”
“Today, our cargo business is limited to smaller drones, which are practical for inter-island, remote areas, industrial sites, medical and offshore applications. These current use cases continue to build our experience and reputation as an operator of cargo drones,” added Michael Hill, Regional Director for Volatus.
About Volatus Aerospace:
Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are 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.
About Natilus:
Natilus was founded in 2016 to commoditize the air cargo transport industry by designing and manufacturing one of the world’s first autonomous aircraft for efficient and sustainable freight transport. This new fleet of blended wing body (BWB) autonomous freight aircraft will increase volume by 60% and lower costs by 60%, while reducing carbon emissions by 50%. Natilus aircraft use existing ground infrastructure and standard air cargo containers to produce an innovative turnkey solution for customers. The first in a family of aircraft, the Natilus Kona, is expected to carry up to 4.3 metric tonnes of freight, fly as far as 900 nautical miles, and cruise at 220 knots. To date, Natilus has an order book of $6B for 460+ aircraft. Volatus has the rights to the first aircraft production slot.
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 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 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.
Source: Volatus Aerospace Corp.
TSXV: VOL
Contact Details
Abhinav Singhvi
+1 514-447-7986
abhinav.singhvi@volatusaerospace.com
