Mr. Abhinav Singhvi reports

VOLATUS ANNOUNCES CLOSING OF FULLY SUBSCRIBED LIFE OFFERING OF $10,000,000

Volatus Aerospace Inc. has closed its previously announced fully subscribed non-brokered listed issuer financing exemption (LIFE) private placement. The company issued 19,230,770 units of the company at a price of 52 cents per unit for gross proceeds of approximately $10-million. Each unit comprises one common voting share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 76 cents per warrant share for a period of 36 months following the date of issuance.

The company intends to use the net proceeds of the LIFE financing for the expansion into the defence business segment of the company, to increase the inventory of drone systems to fulfill increased demand in the United States, Canada and internationally, and for general working capital and corporate purposes.

In connection with the LIFE offering, the company paid an aggregate of $600,000 as finders' 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.

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, Prospectus Exemptions, 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 on SEDAR+ and on the company's website.

About Volatus Aerospace Inc.

Volatus is a leader in innovative global aerial solutions for intelligence and cargo. With over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems for a wide array of industries, including oil and gas, energy utilities, health care, public safety, and infrastructure. The company is committed to enhancing operational efficiency, safety and sustainability through cutting-edge aerial technologies.

We seek Safe Harbor.