Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) (the “Company” or “Volatus”) is providing a supplementary update in respect of its brokered private placement of units announced by way of press release on August 29, 2022 (the “Brokered Private Placement”). The Brokered Private Placement is intended to accommodate investors in the Province of Quebec as the Prospectus Offering (as defined below) is not applicable in the Province of Quebec. The offerings are made on similar terms as announced previously. The Brokered Private Placement for gross proceeds of up to $500,000 will be conducted in addition to, and on similar terms with, the Company’s proposed marketed public offering of units for gross proceeds of $4,000,032, subject to an over-allotment option (the “Prospectus Offering”), and the Company’s proposed non-brokered private placement of units for gross proceeds of up to $500,000 (the “Non-Brokered Private Placement”), each as previously announced by way of press release on July 25, 2022.

The Company received a receipt for the preliminary short form prospectus on July 25, 2022 and expects to receive a receipt for the final short form prospectus in due course.

The offerings are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities. All securities issued in connection with the Brokered Private Placement and the Non-Brokered Private Placement will be subject to a four-month and one day hold period in Canada. In correction of the August 29, 2022 press release, the Company advises that there is no president's list applicable to the Brokered Private Placement.

About Volatus Aerospace:

Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, Latin America and most recently in Europe. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft.

Forward-Looking Statement

This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information 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 business plans and expectations of the Corporation; and (ii) 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 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 Corporation 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 Corporation, 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 reflects the Corporation’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 impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation 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 Corporation 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 TSX Venture Exchange (“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 release.

TSXV: VOL

Contact Details

Abhinav Singhvi

+1 833-865-2887

This email address is being protected from spambots. You need JavaScript enabled to view it.

Company Website

https://volatusaerospace.com