Volatus Aerospace Inc. Announces $5 Million Private Placement

Volatus Aerospace Inc. has entered into an agreement with Ventum Financial Corp. and Cormark Securities Inc. for a private placement valued at C$5 million. The offering involves the issuance of units consisting of common shares and warrants. The unit price is set at $0.14, with the possibility of additional sales pushing the total to $5.75 million.

The funds raised will be used for general corporate purposes, research and development and capital expenditures. The transaction is expected to close in November 2024, subject to regulatory approvals. The placement is part of the financing exemption Canadian, exempting units from detention period in Canada.

The agents involved will receive a 7% commission and broker warrants as part of the transaction.