Volatus Expands SEAR Program into the U.S.

Science Experiential Aerial Research Program Kickstarts in Florida

TORONTO, ON / ACCESSWIRE / July 27, 2023 / Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company") announced today that it has expanded into the U.S. with the kick off of its newest version of the Science Experiential Aerial Research (SEAR) Program-The Litter Project.

High school students in Florida began the course this week and will be learning the basics of machine learning, aerial intelligence collection with drones and other essential science disciplines that will help prepare them for future work in aviation, technology, and science.

The curriculum focuses on a community-defined issue, in this case litter, to meet national- and state-defined science and math learning outcome requirements.

"We've run the SEAR Program now in British Columbia, Alberta, Saskatchewan, and of course, Manitoba, where we received a $500K grant," explained Matt Johnson, Director of Education for Volatus Aerospace. "In addition to meeting essential curricular outcomes for science, these courses are designed to provide students with hands-on experience with the technology and science so that they can learn what opportunities are out there. Our hope is that it will inspire them to pursue these types of careers as they look to college and beyond."

"Demand for aerial intelligence is not only growing in leaps and bounds but so are the technologies," began Glen Lynch, CEO of Volatus Aerospace. "Tools like Remotely piloted aircraft, machine learning and AI are essential to help us quickly, safely, and cost efficiently collect, process, analyze, and action terabytes of data. We are going to need to encourage students to pursue these careers to be able to scale and keep up with the demand. The SEAR Program gives students a taste of what is out there today and what could be their future-we are excited to expand this program into the United States."

The program is available across North America and can be tailor made to fit state/provincial curricular requirements in science as well as specific community concerns. To learn more, contact Matt Johnson at matthew.johnson@volatusaerospace.com.

Corporate Update: Volatus is pleased to announce that it has received an extension from the TSX Venture Exchange ("TSXV") to its proposed non-brokered private placement announced on April 13, 2023 of up to 250 convertible debenture units of the Corporation (the "Debenture Units") at a price of $1,000 per Debenture Unit for aggregate gross proceeds of up to $250,000 (the "Offering"). The extended final date for acceptance of the Offering is August 31, 2023.

All terms of the Offering remain unchanged, and the Company intends to use the net proceeds of the Offering for research and development and for general working capital purposes. The Company may pay a finder's fee on the Offering within the amount permitted by the policies of the TSXV. All securities issued in connection with the Offering, including any securities issuable upon conversion or exercise thereof, will be subject to a statutory hold period of four months and one day from the date of issuance of the Debenture Units. The Offering is subject to final approval by the TSXV.

The Debenture Units will be offered and sold by private placement in Canada pursuant to exemptions from the prospectus requirements under National Instrument 45-106 - Prospectus Exemptions, and in certain other jurisdictions on a basis which does not require the qualification or registration of the securities offered, or any underlying securities.

About Volatus Aerospace:

Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. 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. Through our subsidiary, Volatus Aviation, we are 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 Information

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.

TSXV: VOL

Contact Details

Danielle Gagne
Head of Marketing and Communications
+1-579-977-5066, ext. 92006
Danielle.Gagne@volatusaerospace.com

Company Website

https://volatusaerospace.com

SOURCE: Volatus Aerospace Corp.