TORONTO, Aug. 30, 2024 /CNW/ - Drone Delivery Canada Corp. ("Drone Delivery Canada" or the "Company") (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A3DP5Y) (Frankfurt: ABBA.F) and Volatus Aerospace Corp. ("Volatus") (TSXV: VOL) (OTCQB: VLTTF) are pleased to announce the successful completion of their merger of equals (the "Merger") announced on May 21, 2024, pursuant to which Drone Delivery Canada acquired all of the issued and outstanding common shares of Volatus (the "Volatus Shares") by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). 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.
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