Drone Delivery Canada Corp. and Volatus Aerospace Corp. have announce the successful completion of their merger of equals announced on May 21, 2024, pursuant to which Drone Delivery Canada acquired all of the issued and outstanding common shares of Volatus by way of a plan of arrangement under the Business Corporations Act (Ontario).
The Arrangement results in Volatus becoming a wholly-owned subsidiary of the Company. The completion of the Merger marks a new era for the companies, combining the power of Volatus’ commercialization expertise with Drone Delivery Canada’s proven remote operations and logistics technology. The Merger obtained requisite approval by the shareholders of both companies, with Drone Delivery Canada holding its meeting on August 26th and Volatus on August 23rd. The Arrangement was approved by the Ontario Superior Court of Justice (Commercial List) on August 27th.
In connection with the Merger, the Company will change its name to “Volatus Aerospace Inc.”, leveraging the strength of the Volatus brand while maintaining Drone Delivery Canada’s brand for cargo operations.
Management and Board Composition
The management team of the Company is led by Glen Lynch as CEO and Steve Magirias as COO. Ian McDougall, the current chairman of Volatus, has assumed the role of chairman of the Company’s board. The other directors of the Company are Kevin Sherkin, Larry Taylor, Glen Lynch and Andrew Leslie.
“Our transformative merger of Drone Delivery Canada and Volatus marks the next major milestone for the Company,” said Glen Lynch, CEO of the Company. “Back when Volatus transitioned from a private company to a public company in 2021, we reimagined our mission to be an integrator and consolidator of a fragmented industry—to build a streamlined and agile ecosystem for our customers. Volatus is taking the next evolutionary step with Drone Delivery Canada, combining its significant technological expertise together with our commercial experience to provide tested and proven remote operational capabilities and logistics technology to our customers.”
About Volatus Aerospace Inc.
Volatus Aerospace Inc., born from the merger of Volatus and Drone Delivery Canada, is a consolidator and integrator of aerial intelligence and logistics solutions. With deep technological and subject matter expertise and over 100 years’ worth of combined institutional knowledge in aviation, the Company’s mission has been to build a complete aerial intelligence and logistics ecosystem that provides agile and streamlined solutions for end users across various industries. The Company has achieved this through strategic partnerships and acquisitions that augment its operational, geographical, and technological capabilities, enabling best-in-class services, technologies, and training globally.
Source: Drone Delivery Canada