Volatus to close convertible debenture offering following entry into US pipeline surveillance market
Last Friday’s announcement that Volatus Aerospace is about to enter the US oil & gas pipeline surveillance market is a key milestone for the Company.
Here’s a quote in the release from CEO Glen Lynch that summarizes this huge opportunity following the signing of a first contract with a large US energy company:
“Our experience and expertise put us in a strong position to capture a market opportunity that is expected to grow to US$1.1B by 2033," said Glen Lynch, CEO of Volatus Aerospace, noting that Volatus expects to grow to an annualized revenue of up to CAD $4 million in 2024 with EBITDA (Earning Before Interest, Tax, Depreciation, and Amortization) margin of 10%, in line with our past performance from this services segment in Canada.”
Volatus is enjoying strong revenue growth and growing margins, as we saw in its Q2 financials. Friday’s news release shows that this trend is firmly in place as the Company enters this highly promising US market.
Here is a very positive research note update from Echelon Partners issued earlier this morning.
To facilitate purchase of inventory and procuring additional services required to meet the demands of this US pipeline contract and others expected to follow, the Company is planning to close its non-brokered convertible debenture private placement announced in April, under the same terms and conditions as mentioned here. Please contact Danielle Gagne (danielle.gagne@volatusaerospace.com) for subscription documents.
If you’d like us to arrange a call directly with CEO Glen Lynch for more information on the US contract or an update on the convertible debenture offering, please let us know.
Thanks for your continued interest and support.
Rick Peterson (He/him)
Chair
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