MVTs Acquisition by Volatus to Help the Company Accelerate its Growth

Volatus' Drone Services Offering will benefit from MVT's experience in LiDAR, bespoke cameras, sensors, and new surveying and geomatic approaches

Fremont, CA: "Volatus has long seen MVT as the leader in geomatics and drone services in the Quebec market. Adding their capabilities and regional market presence is an important step for Volatus and consistent with our mission to lead consolidation in the markets we serve," states Glen Lynch, CEO of Volatus. MVT Geo-Solutions Inc., a Quebec-Canada based leader in geomatics technologies, has entered into a final agreement to be acquired by Volatus Aerospace Corp.

MVT's team of geomatics scientists, engineers, and other experts combine the tools and knowledge needed to acquire and handle numerous forms of data used to understand Earth, its phenomena, and its resources. Civil engineering, transportation, hydrography, natural resource management, forestry, and public safety are among the businesses that benefit from data gathering, processing, and analysis. In 2021, MVT generated unaudited revenues of C$1.4 million from geomatics services, equipment sales, and training, with a net profit margin of 12 percent.

"Since its beginning in 2016, MVT has built strong relationships by delivering innovative geomatics services throughout Quebec and Eastern Canada," comments Maude Pelletier. "Joining Volatus provides the resources, scale and market presence to help accelerate MVTs growth and contribute to the overall capabilities of Volatus ."The total consideration payable in connection with the acquisition of 100 percent of MVT shares is $1,200,000 CAD, consisting of (i) $850,000 CAD in cash; and (ii) the balance in Volatus common shares with a value of $350,000 CAD, calculated based on the Volatus common shares' last closing price on the TSX Venture Exchange prior to the acquisition's closing.

MVT plans to use Volatus' sales and marketing resources, as well as the North American pilot network and Volatus' competencies in agricultural, facade inspections, and cargo solutions, to speed growth. MVT's geomatics expertise and technical competencies, notably in relation to LiDAR, will be leveraged by Volatus across its current operations.