on Volatus Aerospace Corp. (isin : CA92865G1054)
Volatus Aerospace Secures $15 Million from Québec and EDC
Volatus Aerospace Inc. has announced the successful acquisition of $15 million in funding from Investissement Québec and Export Development Canada (EDC). Each institution is contributing $7.5 million, with Investissement Québec providing a secured convertible debenture and EDC a term loan.
This financing will support Volatus in expanding its operations in industries such as oil and gas, and energy utilities. The Debenture, due in 2029, offers conversion into shares at a price of $0.202. The Term Loan has a four-year term with a Prime+8% interest rate.
Volatus plans to relocate its head office to Québec, leveraging the region's industrial ecosystems. The funds will be used to repay existing debts and grow new initiatives like AI-based solutions. Rabaska Partners advised on this deal.
This strategic move marks a significant milestone, underlining Volatus' commitment to growth and technological advancement.
R. E.
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