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Drone Delivery Canada ( (TSE:FLT) ) has shared an update.
Volatus Aerospace Inc. has successfully closed a fully subscribed non-brokered LIFE private placement, raising approximately $10 million through the issuance of 19,230,770 units. The funds will be used to expand into the defense sector, increase drone system inventory to meet growing demand in the U.S., Canada, and internationally, and for general working capital. This strategic move positions Volatus to strengthen its market presence and operational capabilities in the aerial solutions industry.
Spark’s Take on TSE:FLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:FLT is a Neutral.
The overall stock score of 56 reflects significant financial challenges and valuation concerns, balanced by positive technical momentum and strategic corporate events. While operational improvements and strategic initiatives are promising, financial instability remains a major risk.
To see Spark’s full report on TSE:FLT stock, click here.
More about Drone Delivery Canada
Volatus Aerospace Inc. is a leader in innovative global aerial solutions for intelligence and cargo, offering comprehensive solutions using both piloted and remotely piloted aircraft systems. The company serves various industries, including oil and gas, energy utilities, healthcare, public safety, and infrastructure, focusing on enhancing operational efficiency, safety, and sustainability through cutting-edge aerial technologies.
Average Trading Volume: 2,841,022
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$445.6M
For an in-depth examination of FLT stock, go to TipRanks’ Overview page.