TORONTO, ON / ACCESSWIRE / November 7, 2024 / Today, Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQX:TAKOF)(Frankfurt:A3DP5Y/ABBA.F) ("Volatus" or the "Company") provides a corporate update outlining recent developments aimed at strengthening leadership, accelerating commercialization, and positioning for growth in aerial solutions.

New Board Appointment

The Company is pleased to announce the appointment of Omar Mourad, CFA, Director, Private Equity - Manufacturing & Diversified Product with Investissement Québec, to the Board of Directors. Omar brings extensive expertise in private equity and strategic investment, aligning with Volatus' vision for expansion and industry leadership.

Leadership Changes: Appointment of New Chief Operating Officer

Volatus is pleased to announce that Greg Colacitti has been promoted to the position of Chief Operating Officer, replacing Steve Magirias, who is no longer with the Company. Greg, who has been with Drone Delivery Canada since 2014, most recently served as Director of Operations and is a co-inventor on all Drone Delivery Canada patents. His leadership approach and alignment with Volatus' post-merger objectives make him well-suited to support the Company's continued growth.

As previously announced, Rob Walker, will continue as Chief Commercial Officer.

Progress on Integration and Commercialization Efforts

Volatus is also pleased to report that phase one of the post-merger integration of Volatus Aerospace Corp and Drone Delivery Canada is complete ahead of schedule. This progress supports the Company's aggressive efforts to commercialize its proprietary technologies and remote operations capabilities, enabling Volatus to deliver an increasingly comprehensive range of aerial solutions to clients worldwide.

The Company remains committed to driving technological advancement in the industry and delivering long-term value to shareholders.

About Volatus Aerospace Inc.

Volatus is a leader in innovative global aerial solutions for intelligence and cargo. With over 100 years of combined institutional knowledge in aviation, Volatus provides solutions for a wide array of industries, including oil and gas, energy utilities, public safety, and infrastructure. The Company is committed to enhancing operational efficiency, safety, and sustainability through cutting-edge aerial technologies. For more information, visit www.volatusaerospace.com.

MEDIA CONTACT

Danielle Gagne
Head of Marketing and Communications
danielle.gagne@volatusaerospace.com
+1-579-977-5066

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 anticipated benefits of, and estimated revenue to be generated by, the master service agreement; (ii) the business plans and expectations of the Company; and (iii) 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 of management 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 anticipated benefits and revenues of the master service agreement to the Company; the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; meeting the continued listing requirements of the TSXV; and including, but not limited to, those factors set forth in the Company's Annual Information Form under the section "Risk Factors". 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.

TSXV: FLT.V

SOURCE: Volatus Aerospace Inc.