News Release
Volatus Aerospace Obtains Industry First Special Flight Operations Certificate
for Beyond Visual Line of Sight Operations without a Visual Observer
Volatus Aerospace Corp.
Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") is pleased to announce that it is the first company in Canada to receive a Beyond Visual Line Of Sight ("BVLOS") Special Flight Operations Certificate (SFOC) from Transport Canada to operate a remotely piloted aircraft (RPAS, drone) without a visual observer, using a ground-based optical detect and avoid system. This is a key milestone in the commercialization of the AERIEPORT nesting station and a necessary and important step toward commercializing drone technologies at scale in Canada. Volatus is experienced in BVLOS operations and currently holds authorization to conduct BVLOS training at several locations across Canada. This new SFOC will enable Volatus Aerospace to remotely pilot a Volatus M300 drone integrated with FlightOps’ remote operations software and a CASIA G Optical Detect and Avoid system from IRIS Automation at the Lake Simcoe Regional Airport. “An SFOC is an authorization, usually on a one-time, single location, or risk level basis given by Transport Canada to operate above and beyond current regulations,” explained Richard Podolski, VP of Flight Operations for Volatus Aerospace. “It’s a very well regulated and safety-oriented method for developing new functionality in an industry or accomplishing what nobody thought to write rules for.” “For drone technology to be successful long-term, it needs to improve upon current methods and applications, be affordable, and scalable,” stated Glen Lynch, CEO of Volatus Aerospace. “Today’s achievement has broken through a major barrier and opened the door to commercial opportunities that have only been dreamed about but until today have been just out of reach. Remote operations beyond visual line of sight are now a reality for Volatus. Commercialization begins now.” 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. 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. 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. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com
August 10, 2022 12:29 PM Eastern Daylight Time
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