Drone Delivery Canada Corp. and Volatus Aerospace Corp. Complete Previously Announced Merger of Equals Page 1

TORONTO, ON / ACCESSWIRE / August 30, 2024 / 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 means of a regulation plan under the Corporate Corporations Act (Ontario) (the “Regulation“). The arrangement will result in Volatus becoming a wholly owned subsidiary of the Company. The completion of the merger marks a new era for the companies, combining the strength of Volatus’ commercialization expertise with Drone Delivery Canada’s proven remote operations and logistics technology. The merger received the required approval from shareholders of both companies, with Drone Delivery Canada holding its meeting on August 26^and and Volatus on August 23^rdThe settlement was approved by the Ontario Superior Court of Justice (Commercial List) on August 27.^and.

In connection with the Merger, the Company will change its name to “Volatus Aerospace Inc.”, leveraging the strength of the Volatus brand and retaining the Drone Delivery Canada brand for cargo operations. The Company’s shares will continue to trade under the ticker symbols TSXV:FLT, OTCQX:TAKOF, Frankfurt:A3DP5Y and Frankfurt:ABBA.F. The Company’s shares are expected to trade on the TSX Venture Exchange (the “TSXV“) under the new name “Volatus Aerospace Inc.” on or about September 5, 2024.

Under the terms of the arrangement, each former Volatus shareholder is now entitled to 1,785 (the “Exchange rate“) ordinary voting shares of the Company for each Volatus Share held immediately prior to the Agreement becoming effective (the “ConsiderationThe Merger was structured as a 50/50 merger of equals, whereby the shareholders of both companies would own approximately 50% of the Company upon completion of the Agreement.

In order to receive the consideration, registered shareholders of Volatus Shares must deposit their share certificate(s) representing Volatus Shares, together with the duly completed letter of transmittal, with Computershare Investor Services Inc., the depositary under the Scheme. Shareholders whose Volatus Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee in relation to receipt of the consideration.