Volatus Aerospace Secures Major Funding to Bolster Defense Market Position

Canadian drone technology specialist Volatus Aerospace has announced a substantial capital infusion totaling over $24.6 million, marking a significant strategic push to expand its footprint within the growing defense sector. The company unveiled this comprehensive funding strategy alongside confirmation of a key technological acquisition.

The financing initiative comprises two distinct components working in tandem. A private placement of up to 7.77 million common shares priced at $0.60 each is projected to generate $4.66 million. This is complemented by a public offering that launched on November 4, which has already been oversubscribed and aims to raise $20.01 million.

Pending approval from the TSX Venture Exchange, the company expects to finalize both transactions on November 26. In Read more...