Volatus Aerospace Suspends Strategic Investment in Delta Drone SA
Following due diligence and current economic conditions, Volatus announces it will not pursue its planned investment.
Toronto, Ontario –News Direct– Volatus Aerospace Corp.
Volatus Aerospace Corp. (TSXV:VOL) (OTCQB:VLTTF) (“Volatus” or “the Company”) announced today that it has suspended the plan to make a strategic investment in Delta Drone SA that was previously announced on March 3rd, 2022.
Commenting on the decision, Glen Lynch, CEO of Volatus said “As the due diligence activity was being carried out it was apparent that some aspects of the transaction were not positioning well for the planned Volatus activity. Coupled with the unprecedented turmoil caused by the Russian invasion of Ukraine and resulting volatility in European markets, timing for pursuit of such an investment no longer made sense for Volatus”.
The two companies have agreed to continue exploring opportunities to work together for each other’s mutual benefit.
About Volatus Aerospace:
Volatus Aerospace Corp. is…