• Establishing a Recurring Revenue Stream from the Remote Operations Center

VAUGHAN, ON, June 5, 2024 /CNW/ - Drone Delivery Canada Corp. ("Drone Delivery Canada" or "DDC") (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A3DP5Y) (Frankfurt: ABBA.F) and Volatus Aerospace Corp. ("Volatus") (TSXV: VOL) (OTCQB: VLTTF) are excited to announce the beginning of a collaboration to commercialize the Volatus Aerieport Drone Nesting Station in concert with DDC's Remote Operations Center. This follows the announcement of their planned merger, initially disclosed on May 21^st, and serves to illustrate the united strengths of both companies.

"This is just one of many key revenue generating initiatives we have underway with Volatus Aerospace," said Steve Magirias, CEO of Drone Delivery Canada. "We are mutually focused on capturing market share, bringing new technologies to the market, commercializing our solutions and bringing it all to numerous customers across various geographies and verticals."

To kickstart this initiative, the Aerieport will be immediately relocated to DDC's Remote Test Site for training of their Remote Operations Center team and integration into their state-of-the-art remote operating systems. This strategic move is crucial for demonstrating the Aerieport's versatility through ongoing reliability testing and customer demonstrations. This is expected to boost both equipment sales and introduce recurring service revenue from managed services from the Remote Operations Center.

Strategic Highlights of the Aerieport Integration:

• Fully Managed Service Offering: The Aerieport will be operated as a managed service from DDC's Remote Operations Center, ensuring a comprehensive drone operation service for clients.
• Advanced Operational Capabilities: The center will facilitate extensive drone operations tailored to meet the demands of clients worldwide.

Key Features of the Aerieport include:

• Drone-agnostic design allowing flexibility in drone operations.
• Option for solar power for sustainable and autonomous operations.
• Capable of operating in extreme temperatures.
• Fully weatherproof with an integrated optical detect and avoid system.
• Equipped with a robust 4-sim, 5G modem with satcom option for independent communications.

The relocation of the Aerieport not only underscores the technological and strategic synergies between Drone Delivery Canada and Volatus but also enhances the offering of managed services to a global customer base. This initiative is poised to significantly enhance the recurring revenue stream from DDC's Remote Operations Center, setting new standards in aerial intelligence and drone logistics technology.

Drone Delivery Canada, based in Vaughan, Ontario, is a leader in the drone logistics sector, recognized for its advanced operational capabilities and extensive experience in managing complex drone operations. Having completed more than remotely operated 7,000 flights, the company is expanding its offering to manage the operation of remotely piloted aircraft in both the cargo and drone service sectors globally.

Volatus Aerospace Corp. is a leading international provider of aerial intelligence solutions, using drones and commercial aircraft. 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. We are focused on 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.

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.