Volatus Aerospace Closes $2.7 Million Financing

Volatus Aerospace Inc. announced the successful closure of its private placement, totaling approximately 19.77 million units at $0.14 per unit. This initiative raised a substantial $2.77 million. Each unit comprises one common share and one warrant, allowing holders to purchase an additional share for $0.20 within 24 months.

The funds will primarily support research, development, and general corporate purposes. The offering was led by Ventum Financial and Cormark Securities, alongside Desjardins Securities and Raymond James. A cash commission of $193,706.80 was paid to the agents, along with non-transferable compensation options.

Issued under the Listed Issuer Financing Exemption, these units bypass resale restrictions in Canada. However, securities not under this exemption remain subject to a Canadian statutory hold period, expiring March 2025.