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Drone Delivery Canada ( (TSE:FLT) ) has issued an update.
Volatus Aerospace Inc. has successfully closed its upsized and fully subscribed non-brokered LIFE private placement, raising $5 million by issuing 25 million units at $0.20 per unit. The proceeds will be used for global market expansion, investment in Arctic and remote operations infrastructure, and general corporate purposes, subject to final approval from the TSX Venture Exchange.
Spark’s Take on TSE:FLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:FLT is a Neutral.
Drone Delivery Canada’s stock is driven by strong technical indicators and positive corporate events, suggesting growth potential. However, financial performance issues and unattractive valuation metrics limit the score. Operational improvements from the earnings call contribute positively, balancing the financial challenges.
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. The company provides comprehensive solutions using both piloted and remotely piloted aircraft systems for industries such as 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: 871,488
Technical Sentiment Signal: Buy
Current Market Cap: C$127.9M
For an in-depth examination of FLT stock, go to TipRanks’ Overview page.