(NewsDirect)
Volatus AerospaceCorp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "theCompany") is pleased to announce that its subsidiary, Canadian AirNational Inc., has signed a 3-year master service agreement with aleading pipeline operator to provide pipeline right-of-way asset andenvironmental monitoring throughout Ontario. The agreement, signed onMarch 2nd, is estimated to generate revenues of up to $5M over thenext three years with margins within historical norms for jobs of thisnature.
Volatus Aerospace provides data gathering and analysis servicesto the oil and gas sector through its subsidiaries Canadian AirNational and Synergy Aviation. In total, the Company provides pipelineright-of-way surveillance services across Canada from Kitimat, BritishColumbia to Ottawa, Ontario. Combined with weekly patrols on an annualbasis, the Volatus Group patrols over 1,600,000 kilometers ofpipeline.
“Lightaircraft and helicopters remain the most common solution for pipelinemonitoring, but drones are the future,” says Glen Lynch CEO ofVolatus. “We are enhancing our competitive advantage by introducingdrones and eVTOL (electric vertical take-off and landing) aircraft inthe months and years ahead to supplement and replace conventionalaircraft. This will save our clients money, make processes safer, andreduce green-house gas emissions.”
“Our oil and gas clients need reliable data,” added BenRuszkowski, Vice President of Business Development at Volatus'subsidiary Synergy Aviation. “We provide them with cost effective,environmentally friendly, and high-quality data solutions to protecttheir right-of-way assets and the environment using our proprietarytechnology.”
According to theCanadian Association of Petroleum Producers (CAPP), 840,000 kilometresof pipelines safely transport liquids, such as natural gas, and crudeoil, across Canada. The requirements for maintaining pipelines areheavily regulated by Provincial and Federal authorities. Regularaerial surveillance is a key method of compliance and protection usedto anticipate, prevent, and mitigate environmental hazards andpotentially dangerous conditions such as pipeline leaks and erosion,encroachment by vegetation, or third-party activities likeconstruction, digging, and plowing.
About VolatusAerospace:
Volatus Aerospace Corp. is a leading provider ofintegrated drone solutions throughout North America and growing intoLatin America and globally. Volatus serves civil, public safety, anddefense markets with imaging and inspection, security andsurveillance, equipment sales and support, training, as well asR&D, design, and manufacturing. Through our subsidiary, VolatusAviation, we are introducing green and innovative drone solutions tosupplement and replace traditional aircraft and helicopters forlong-linear inspections such as pipeline, energy, rail, and cargoservices. Volatus is committed to carbon neutrality; the fostering ofa safe, equitable and inclusive workplace; and responsible governance.
Forward-Looking Information
This news releasecontains statements that constitute “forward-looking information”and “forward-looking statements” within the meaning of applicablesecurities laws, including statements regarding the plans, intentions,beliefs, and current expectations of the Company with respect tofuture business activities and operating performance. Often, but notalways, forward-looking information and forward-looking statements canbe 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 andphrases, or statements formed in the future tense or indicating thatcertain actions, events or results “may”, “could”,“would”, “might” or “will” (or other variations of theforegoing) be taken, occur, be achieved, or come to pass.Forward-looking information includes information regarding: (i) theanticipated benefits of, and estimated revenue to be generated by, themaster service agreement; (ii) the business plans and expectations ofthe Company; and (iii) expectations for other economic, business,and/or competitive factors. Forward-looking information is based oncurrently available competitive, financial, and economic data andoperating plans, strategies, or beliefs of management as of the dateof this news release, but involve known and unknown risks,uncertainties, assumptions and other factors that may cause the actualresults, performance or achievements of the Company to be materiallydifferent from any future results, performance or achievementsexpressed or implied by the forward-looking information. Such factorsmay be based on information currently available to the Company,including information obtained from third-party industry analysts andother third-party sources, and are based on management’s currentexpectations or beliefs. Any and all forward-looking informationcontained in this news release is expressly qualified by thiscautionary statement. Investors are cautioned that forward-lookinginformation is not based on historical facts but instead reflectsexpectations, estimates or projections concerning future results orevents based on the opinions, assumptions and estimates of managementconsidered reasonable at the date the statements are made.Forward-looking information and forward-looking statements reflect theCompany’s current beliefs and is based on information currentlyavailable to it and on assumptions it believes to be not unreasonablein light of all of the circumstances. In some instances, materialfactors or assumptions are discussed in this news release inconnection 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 agreementto the Company; the commercialization of drone flights beyond visualline of sight and potential benefits to the Company; meeting thecontinued listing requirements of the TSXV; and including, but notlimited to, those factors set forth in the Company’s AnnualInformation Form under the section “Risk Factors”. Although theCompany has attempted to identify important factors that could causeactual actions, events or results to differ materially from thosedescribed in forward-looking information, there may be other factorsthat cause actions, events or results to differ from thoseanticipated, estimated or intended. The forward-looking informationcontained herein is made as of the date of this news release and,other than as required by law, the Company disclaims any obligation toupdate any forward-looking information, whether as a result of newinformation, future events or results or otherwise. There can be noassurance that forward-looking information will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking information.
Neither theTSXV nor its Regulation Services Provider (as that term is defined inthe policies of the TSXV) accepts responsibility for the adequacy oraccuracy of this news release
Source: Volatus AerospaceCorp.
TSXV: VOL
Contact Details
RobWalker
+1 204-955-2647
rob.walker@volatusaerospace.com
CompanyWebsite
Copyright (c) 2023 TheNewswire - All rights reserved.