Expected 2024 Revenue of C$2M with 9% EBITDA

TORONTO, ON / ACCESSWIRE / December 7, 2023 / Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company"), a leader in innovating aerial intelligence, announced today that it signed an arm's length definitive agreement on November 30^th, 2023 to acquire two UK-based companies, Aerial Motion Pictures Ltd., dba UAVHub and Open Sky Consulting International Ltd., dba The Drone Mentor, providing world leading online video-based drone training and certification.

Founded in 2014, UAVHub is the highest rated drone training and certification company in the UK. UAVHub currently service the regulated drone pilot space by delivering UK Civil Aviation Authority approved online training, and have developed proprietary tools that help simplify regulatory compliance in this ever-evolving sector. The Drone Mentor specialises in non-regulatory based training and support for the uncrewed sector, facilitating the advancement of personal, professional, and business development-the ‘second stage' of the ‘drone journey' which is often not considered when pilots first start out; ensuring individual success and ultimately, the longevity of the industry as a whole.

"As our customers become more sophisticated about aerial intelligence solutions, the skills required to meet their needs are expanding. Drone training is no longer just about getting a license-it is about demonstrating and proving competencies through standardized, regulated, and professional training," said Glen Lynch, CEO of Volatus Aerospace Corp. "The addition of UAVHub and The Drone Mentor is a significant opportunity to not only standardize Volatus drone training across its geographies but make training accessible to all current and potential drone pilots, thereby strengthening our offerings, increasing gross margins and adding strategic long-term revenue."

"This acquisition by Volatus Aerospace marks the start of an exciting new chapter for UAVHub," began Matt Williams, CEO and Founder of UAVHub. "We've always been passionate about pushing the boundaries in drone training and certification, and joining forces with Volatus will allow us to take this mission to the next level. Our shared vision for innovation and excellence in aviation training is a perfect match. I can't wait to see how our combined expertise will drive the industry forward, creating new opportunities for our students and the wider aviation community. This partnership is not just a milestone for UAVHub but a leap forward for drone education and flight safety, globally."

Under the terms of the agreement, the total purchase price is £150,000. The Company assumes a long-term debt of £28,339. The Purchase Price shall be paid to the Shareholders in the form of new treasury shares in Volatus Aerospace Corp. ("VOL Shares"). The number of VOL Shares to be issued shall be calculated based on the 30-day volume weighted average price (VWAP) of the VOL Shares on the TSXV exchange prior to the Closing or the price on the day prior to closing, whichever is higher. The maximum cash value of the issued shares at Closing shall be CA$252,000 (£150,000.00 at an exchange rate of 1.68 dollars per Pound Sterling).

This announcement is in line with the Company's objectives to continue expansion in drone training and provide bundled solutions to our client base to increase customer stickiness and long-term relationships.

The acquisition of UAVHub and The Drone Mentor is anticipated to close on January 2^nd, 2024 or such other agreed date conditional on satisfactory completion of due diligence, approval of the respective Board of Directors, key clients, and regulatory approval of the TSX Venture Exchange.

About Volatus Aerospace:

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.

Forward-Looking Statement

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 business plans and expectations of the Company; 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 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 commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

TSXV:VOL.V

OTCQB:VLTTF

CONTACT DETAILS
Abhinav Singhvi

Chief Financial officer
+1 833-865-2887
abhinav.singhvi@volatusaerospace.com

COMPANY WEBSITE
https://volatusaerospace.com

SOURCE: Volatus Aerospace Corp.