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Volatus Announces Closing of Previously Announced Upsized and Fully Subscribed LIFE Offering of $5,000,000
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About this update from Volatus Aerospace Inc.
[{"type":"text","content":"Volatus Announces Closing of Previously Announced Upsized and Fully Subscribed LIFE Offering of $5,000,000\n\n\n\n\n Not for distribution to United States newswire services or for dissemination in the United States.\n \n\n\n TORONTO, June 27, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV:FLT) (OTCQX:TAKOF) (Frankfurt: ABB) (“\n \n Volatus\n \n ” or the “\n \n Company\n \n ”) is pleased to announce that it has closed its previously announced upsized and fully subscribed non-brokered listed issuer financing exemption (LIFE) private placement (the \"\n \n LIFE Offering\n \n \"). The Company issued 25,000,000 units of the Company (\"\n \n Units\n \n \") at a price of $0.20 per Unit for gross proceeds of $5,000,000. Each Unit is comprised of one common voting share in the capital of the Company (“\n \n Common Share\n \n ”) and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder thereof to purchase one Common Share (each, a “\n \n Warrant Share\n \n ”) at an exercise price of $0.30 per Warrant Share for a period of 36 months following the date of issuance.\n \n\n The Company intends to use the net proceeds of the LIFE Financing for expansion into global markets, investment into Arctic and remote operations infrastructure, inventory, and general corporate and working capital purposes.\n \n\n In connection with the LIFE Offering, the Company paid an aggregate of $300,000 as finder’s fees to certain persons who assisted the Company with the LIFE Offering. The LIFE Offering is subject to final approval of the TSX Venture Exchange (“\n \n TSXV\n \n ”).\n \n\n The Units issued under the LIFE Offering were offered to purchasers pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106\n \n Prospectus Exemptions\n \n and therefore the securities issued to such purchasers are not subject to a hold period pursuant to applicable Canadian securities laws. There is an Offering Document related to the LIFE Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.volatusaerospace.com.\n \n\n This press release shall not constitute an offer to sell or th...