Volatus Aerospace Inc. Announces Shares-for-Debt Settlement of Unsecured Convertible Debentures to Strengthen Balance Sheet

Core Viewpoint - Volatus Aerospace Inc. is proposing a shares-for-debt settlement to enhance shareholder value and strengthen its balance sheet, subject to TSX Venture Exchange approval [1][4]. Group 1: Transaction Details - The company issued $2,646,000 in principal amount of debentures on May 11, 2023, and has reached an agreement with debenture holders for a shares-for-debt transaction [2][5]. - The company expects to issue a total of 20,157,908 common shares and 17,639,995 warrants, depending on the maturity date selected [3][5]. - The conversion price for both the principal and accrued interest is set at$0.15 per share, with an additional 10% of the principal amount issued as supplemental shares [5]. Group 2: Financial Restructuring - The financial restructuring is aimed at optimizing the capital structure and providing financial flexibility for sustainable growth [4]. - The securities issued will be subject to a hold period of four months and one day following issuance, in accordance with applicable laws [4]. Group 3: Maturity and Warrant Details - The maturity date for the debentures will not exceed May 11, 2025, with a five-day notice provided to debenture holders [5]. - Each warrant will be exercisable at a price of $0.20 per share for three years, with provisions for acceleration if share prices exceed$0.35 for ten consecutive trading days [5]. Group 4: Company Overview - Volatus Aerospace specializes in innovative global aerial solutions, serving industries such as oil and gas, utilities, healthcare, and public safety [7]. - The company aims to enhance operational efficiency, safety, and sustainability through advanced aerial technologies [7].