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Quona Capital announces $332M fintech venture fund to accelerate financial inclusion investments in emerging markets

Quona Capital

Emerging markets venture capital firm Quona Capital today announced the final close of its Fund III at $332 million, significantly exceeding its $250 million target. This is the third fund from Quona Capital since its inception, bringing the firm’s aggregate committed capital to over $745 million. Quona focuses its investments on innovative technology companies that are expanding access to financial services for underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and MENA. Quona’s Fund III investors include an array of leading global asset managers, insurance companies, investment and commercial banks, university endowments, foundations, family offices and development finance institutions. The majority of Fund III investors returned from prior Quona funds, joined by more than 20 new relationships. Quona Capital was established as an independent venture capital firm in 2015 by co-founding managing partners Monica Brand Engel, Jonathan Whittle, and Ganesh Rengaswamy. Today the firm’s global team —which includes investment professionals and other staff hailing from more than 10 countries and speaking 20 languages—brings a unique combination of deep experience as investors and operators in financial services and technology together with a passion for making investments for lasting impact. “Since our earliest days, Quona has been dedicated to expanding the frontiers of financial inclusion—investing with conviction in markets and technology-enabled models improving access and quality of financial services for the masses,” said Monica Brand Engel, who leads Quona’s investments in Africa and MENA. “Our prior fund performance, robust pipeline of inclusive fintechs, and growing LP interest in our offerings are ringing endorsements of our view on the prospects of impact-oriented venture investing in emerging markets.” “Financial services in emerging markets are being transformed by the power of technology, and Quona’s portfolio companies have been at the front lines of that transformation,” added Jonathan Whittle, who leads Quona’s investments in Latin America. “The pace of innovation in Latin America is accelerating due to a combination of regulatory reform, a maturing venture capital ecosystem, and a wave of founders who cut their teeth with the first generation of successful technology companies in the region.” Ganesh Rengaswamy leads the firm’s investments in India and Southeast Asia. “With 35% of the global population and over 150 million small businesses, the Asia region hosts a very large proportion of the world’s marginalised consumers and small businesses,” he said. “The rapid digitisation of these markets—combined with the innovative solutions developed by the companies Quona is investing in—are bringing these consumers and small businesses into mainstream economic and financial systems. Quona is proud to be a catalyst in enabling these entrepreneurs and their teams.” A history of impact measurement From the onset, Quona has systematically measured the impact of the companies in which it invests, and it has played a substantial leadership role in the impact industry as a result. Before its formal launch in 2015, Quona collaborated with industry leaders to pioneer an impact framework built for financial inclusion measurement. From being an early adopter of the GIIN's Impact Reporting and Investment Standards (IRIS), to shaping the Impact Management Project's “5 Dimensions of Impact,” to becoming an early signatory to the Impact Principles, Quona has continued to play a critical role in the evolution of the impact investing industry, and has been recognized as part of the Impact Assets 50 for three years in a row. Recent statistics from Quona’s latest Impact Report reveal that the firm’s portfolio companies: Served 8.8 million SMEs (with 80% previously underserved) Served 30.2 million retail customers (with 77% previously underserved) Touched 166 million lives (with 74% previously underserved) Generated $836 million in revenue Financed $2.4 billion in loans Enabled $12.3 billion in payment transactions Employed 23.2K people, 35% of which are women Raised $3.99 billion in cumulative capital Quona Capital funds have made more than 65 investments since the firm’s inception. About Quona Quona Capital is a venture firm focused on fintech that can expand access for underserved customers and small businesses in emerging markets including Latin America, India, Southeast Asia, Africa and MENA. Quona’s global partners are experienced investors and operators in both emerging and developed markets, and invest in entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion for both consumers and SMEs. More at https://quona.com Contact Details Shannon Austin +1 703-338-8813 shannon@quona.com Company Website https://quona.com/

November 08, 2022 08:00 AM Eastern Standard Time

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FiscalNote Holdings (NYSE: NOTE) Still Relying On Twitter To Get Your Political News? This Company With Insight From Over 75 Years Of Reliable Experience Could Give You A Better Edge

Benzinga

If you’re still relying on Twitter for political news, you could be falling behind. There are just too many bills and legislative changes for the social network to track. Since World War II, Congress has typically enacted 4 million to 6 million words of new law in each two-year congress, according to GovTrack. The topics of these acts range from genocide prevention and nuclear power use to abortion rights and corporate taxes. You could argue that keeping tabs on the highest profile cases — like the overturning of the Roe v. Wade Act of 1973 — is a possibility, but that effectively also gives the reigns to social media outlets to decide what is worthy of public attention. And certain legislative changes that have no bearing on the majority of the population may still be significant to others. As the midterm elections approach, it’s more important than ever that Americans keep tabs on the political landscape. Catering to the needs of the people, FiscalNote Holdings Inc. (NYSE: NOTE) is an agency specialized in collecting and analyzing data on the regulatory processes in the U.S. and abroad. Here’s how it could help you stay ahead of the political curve. Could FiscalNote Change The Game? According to FiscalNote, over 5,000 organizations trust the company’s regulatory data operations, including Walgreens Boots Alliance Inc. (NASDAQ: WBA) and the Executive Office of the President of the United States. Unlike other data-centric companies like Workiva Inc. (NYSE: WK) and Splunk Inc. (NASDAQ: SPLK), FiscalNote’s emphasis is to help customers like Tesla Inc. (NASDAQ: TSLA) and Chevron Corp. (NYSE: CVX) stay ahead of rapidly evolving political, corporate and regulatory environments. Two of the company’s products stand out in this category. First is CQ Federal, a software platform aimed at ensuring individuals never miss an update on legislation and regulations. Armed with a user-optimized application, CQ Federal provides investors immediate access to updates on the issues that matter across bills, transcripts, reports, votes and more. The U.S. government produces thousands of documents and updates, and CQ Federal allows you to sift through them via advanced tools and dig deep into those that impact you the most. Second is VoterVoice, a comprehensive digital advocacy solution that helps campaigns mobilize their supporters, amplify their message and take legislative action. VoterVoice connects campaign organizers’ advocates via best-in-class address-matching capabilities, ensuring the campaign message is heard by those with the power to enforce change. Additionally, VoterVoice functions as a virtual hub, allowing campaigners to reach out to their supporters via e-mail and notifications and keep them engaged and informed via newsletters, polls and updates. Think of it like ZoomInfo Technologies Inc. (NASDAQ: ZI) of politics. With tools tailored to optimizing the curation of important political information, why depend on unspecialized alternatives? Reacting quickly and properly to emerging information is a key quality of competent management teams. FiscalNote, which has over 75 years of unbiased experience, allows individuals to do so with ease. Ready to level up in the political playing field? Head to FiscalNote to get started. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 08, 2022 08:00 AM Eastern Standard Time

News Release

Arcwide Expands Global IFS Cloud Services Offering With Opening Of Chicago Office

Arcwide

Arcwide, the joint venture of BearingPoint and IFS dedicated to the deployment of IFS Cloud services, today announces the opening of an office in Chicago. The latest opening is Arcwide’s 12th in twelve different countries, a step towards its goal of 20 by 2025, and marks the company’s expansion into North America. Arcwide is a joint venture with a truly unique business transformation proposition: uniting technology innovation and professional services to help companies accelerate the realisation of value. It provides an unrivalled combination of professional services and IFS cloud ERP experience to deliver people-centred business transformation. Working collaboratively, Arcwide offers a single, unified service to implement and manage IFS Cloud. This means that companies can realise business value faster, with lower risk. Philippe Chaniot, Arcwide’s CEO, says of the office opening: “Our ambition is to become the worldwide leader in the IFS services marketplace, solving complex challenges and helping our clients to envision and realise their business goals. “Expanding into North America is a significant part of our aggressive growth plans for 2023 and will allow our increasingly wide global resource pool to deliver projects to businesses on both sides of the Atlantic.” The announcement comes as Arcwide is named Growth Partner of the Year in the 2022 IFS Partner of the Year Awards, which recognise the achievements of IFS's partner ecosystem across all industries, countries, and market segments. The award celebrates Arcwide’s accelerated growth and rapid implementation over the past 12 months. Andy Green, Arcwide COO, comments: “We are delighted to receive this award, Arcwide is only just getting started with highly ambitious plans for growth in the near future so it’s great to receive such recognition so early on in our journey. We are committed to delivering business growth for our clients, and we look forward to expanding our reach as we move into America.” About Arcwide Arcwide is a joint venture with a truly unique business transformation proposition: uniting technology innovation and professional services to help companies accelerate value realization. Combining the world-class business technology consultancy of BearingPoint with the best-in-class cloud technology and innovation of IFS, Arcwide expands the successful and well-established partnership between the two companies, which have been working in lockstep since 2017 to create significant value for their mutual clients around the world. For more information, please visit arcwide.com, or follow Arcwide on Twitter and LinkedIn. Contact Details Arcwide Hannah Syers +44 7566 226202 hannah@fox.agency Company Website https://www.arcwide.com/en/

November 08, 2022 08:00 AM Eastern Standard Time

Assembly Elevates Joel Coppersmith to Global Director of Measurement and Effectiveness

Assembly

Global omnichannel media agency Assembly has named Joel Coppersmith to a new role as Global Director of Measurement & Effectiveness. Throughout his more than 3-year tenure at Assembly, Joel has worked alongside stakeholders across the agency to define and evolve our approach to measurement, and key to this new remit will be standardizing measurement and effectiveness strategy globally while staying agile to the change in the media and measurement landscape. There is more pressure than ever on CMOs and marketing leaders to drive performance, which has in turn increased the accountability of Marketing to deliver change and growth across businesses effectively. But with disparate media platforms, emerging media formats both on and offline, and changing privacy regulations, it’s a complex challenge – one Assembly is well positioned to solve. “We can offer clients answers to questions around the efficacy of their investment and the role their media budget is playing in delivering their brand and business objectives. Our focus is on equipping clients with strong, compelling arguments that they can use internally to explain the role that Marketing is playing and the value it's driving,” said Joel Coppersmith, Global Director of Measurement & Effectiveness. Assembly has dedicated time and investment towards bringing our measurement strategy to life across the agency, with Joel leading a significant effort to upskill and transform talent’s knowledge of the measurement landscape to have more informed, solution-oriented conversations with clients. And given the current economic climate, measurement is of even greater importance for marketers. Joel added, “With the challenging economic reality, paired with the disruptions to the online tracking environment via legislation and consumer pressure, there is a lot of uncertainty for businesses – this makes the need to prove the value of delivery even more crucial, making its way to the top of brands’ priority lists.” “The ‘Effectiveness’ part of the role is the crux of what we’re about. It’s about understanding why and how Performance and Brand media impacts consumer behavior, and how that drives growth for a business,” said Coppersmith. Assembly Managing Director of Europe, Kate O’Mahony, added, “Joel represents the very best of Assembly: embracing change, and driving progressive growth, which is how we think about our measurement and effectiveness strategy for clients. With Joel dedicated to this charge, we can help our clients and teams break through the complexities and ensure their marketing programs are adding the value to their businesses that they should be.” About Assembly: Assembly is the modern global omnichannel media agency, bringing data, talent, and technology together to find the change that fuels growth for the best brands on the planet. Our approach connects big, bold brand stories with integrated, global media capabilities that deliver performance and drive large-scale business growth. Our work is powered by our proprietary, in-house technology solution, STAGE, and led by our global talent base of over 1,600 people around the world. We’re purpose-driven at our core and pioneers in social and environmental impact in the agency world. Assembly is a proud member of Stagwell, the challenger network built to transform marketing. Visit www.assemblyglobal.com for more information. Contact Details Sara Pollack, VP of Marketing +1 917-438-4922 sara.pollack@assemblyglobal.com Company Website https://www.assemblyglobal.com/

November 08, 2022 04:00 AM Eastern Standard Time

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KLEVV Launches New 5600MT/s DDR5 Standard Desktop/Laptop Memory

KLEVV

HONG KONG SAR - Media OutReach - 8 November 2022 - KLEVV, an emerging memory brand introduced by Essencore, unveils its latest DDR5 standard U-DIMM and SO-DIMM memory running at 5600MT/s. Designed to support both AMD’s latest RYZEN 7000 series processors and AM5 platform as well as Intel’s 13th Gen Raptor Lake processors and Z790 motherboards (note*), featuring blisteringly fast speed with a highly efficient power to performance ratio. UNPARALLELED PERFORMANCE & OUTSTANDING COMPATIBILITY To cater the growing demand for high-speed computing with a highly versatile product selection, KLEVV introduces a brand-new 5600MT/s version to its DDR5 standard desktop and laptop memory lineup. Fully compliant with JEDEC standards, the new 5600MT/s DDR5 memory is the latest addition to KLEVV's DDR5 U-DIMM and SO-DIMM lineup with the pre-existing 4800 MT/s memory. Available in 16GB per module with single (16GBx1) and dual (16GBx2) pack options, the new KLEVV DDR5 standard memory is QVL tested and approved by top motherboard brands including ASUS, ASROCK, GIGABYTE and MSI across corresponding motherboards, utilized in a diverse range of active sectors, including business, learning, or entertainment on desktop and laptop computers. STEP INTO THE FUTURE WITH DDR5 TECHNOLOGY The new KLEVV DDR5 standard memory boasts the best-in-class memory chips with jaw-dropping data transfer bandwidth rates of up to 44.8 GB/s with flawless multi-tasking capability. Operating at a low 1.1V voltage, the all-new KLEVV DDR5 memory deliver twice the performance of DDR4 with extraordinary efficiency. Cutting-edge DDR5 technology, like On-DIMM Power Management Integrated Circuit (PMIC) and On-Die Error Correcting Code (ODECC) technology, allows the memory to utilize improved power efficiency and better stability. Sleek, robust, and highly reliable, KLEVV showcases outstanding product quality and superior technical prowess with the new 5600MT/s memory. PRODUCT AVAILABILITY AND WHERE TO BUY The 5600MT/s version of KLEVV DDR5 standard desktop/laptop memory will be available from Q4 2022, KLEVV products are distributed by Integral Memory plc in the United Kingdom/ France/ Spain/ Germany. Consumers may visit Amazon sites for online purchase. FURTHER INFORMATION Product page of KLEVV DDR5 memory: https://www.klevv.com/ken/products_details/memory/Klevv_U_DIMM.php https://www.klevv.com/ken/products_details/memory/Klevv_SO_DIMM.php Note*: as of the PR release date, Intel and AMD platforms support 5600MT/s desktop memory only, not laptop memory. ABOUT ESSENCORE Established in 2014, Essencore Limited aims to become the world's top vendor of DRAM modules and NAND flash application products. The company started with one goal: to “Change the world and be a leader in semiconductor distribution”. The business strategies of Essencore is to adopt the newest technologies to differentiate themselves from competitors, deliver dedicated Memory products, and offer various product portfolios for customer’s competition readiness. For more information, please visit www.essencore.com. ABOUT KLEVV KLEVV, is a premium brand of Essencore, the major Module and NAND Flash application product vendor. The KLEVV range focused on superior gaming memory modules and solid state drives. KLEVV is committed to delivering world-class products with first-rate quality, and all products are engineered for enthusiasts who are pursuing the best things in life. KLEVV memory/SSD have been recognized by Germany's Red Dot Design Award for its innovative product design in 2015, 2019, 2021, and 2022. For more information, please visit www.klevv.com. Contact Details Yunly International Marketing Emily Lin emily@yunlymedia.com

November 07, 2022 10:05 PM Eastern Standard Time

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Clean Room Primer Group Announces Speakers for Third Roadshow Event in San Francisco

Clean Room Primer

The Clean Room Primer Group today announces its selection of headline speakers for its upcoming event in San Francisco, California on Thursday, November 10, 2022. The mission of the group is to demystify data clean rooms and help marketing and advertising professionals adapt and use them in a privacy-safe marketing environment. The San Francisco event marks the third in a series of events for the Clean Room Primer, all geared to expand on use cases and offer real-world examples on usage of data clean rooms. The headline speakers attending the San Francisco event include: Frederick Stanichev, Head of Sales, Habu Christine Grammier, Head of Solutions, LiveRamp Dave Chambers, Director, Partner Solutions, Claravine Chase Engstrom, Director, Strategic Solutions, InfoSum “We are excited to bring our Roadshow to the west coast with our third event in San Francisco. This technology is unique in that it requires deep collaboration from all sides of the industry - including brands, publishers, agencies and platforms. Our events are meant to bring some of this collaborative thinking to the forefront and help the industry better understand data clean rooms,” said Adam Gelles, co-founder of the Clean Room Primer group and CEO, The B2B Marketing Company. “ As we look forward, a more privacy-centric approach to advertising and marketing is critical as new regulations, platform changes and the third-party cookie demise become more prevalent.” The group has co-authored an initial piece of educational material – The Clean Room Primer – a white paper covering clean room taxonomy and definitions; use cases; and a look at the future. The white paper was released during the group’s inaugural event at Advertising Week in New York City in October. Following this event, The Clean Room Primer will wrap up its inaugural roadshow with a final event on December 6th in Los Angeles. Leading practitioners will share real-world insights on why and how to use data clean rooms for marketing and advertising. For more information and to register for the upcoming events, click here. About The Clean Room Primer Group The Clean Room Primer is an ad-hoc consortium of advertising industry executives with a shared mission of providing marketers, agencies, and publishers with a reliable and expert source on data clean rooms, their use and implementation best practices. Helping the industry prepare for a new privacy landscape. Inaugural participating companies include Habu, LiveRamp, InfoSum, Claravine, Kite Hill Public Relations, Marcato Solutions, The B2B Marketing Company, Neustar and Merkle. For more information, visit CleanRoomPrimer.com and follow on LinkedIn and Twitter. About The B2B Marketing Company We are a leading provider of business marketing and revenue generating programs for high growth, mid-market and enterprise companies. Our clients have included Microsoft, GumGum, Integral Ad Science, Spectrum Reach, Adobe and many others across technology, media and entertainment, transportation and financial services companies. We provide clients marketing, evangelism, content and excellence programs using our proven methodologies and processes that have generated over hundreds of millions of dollars for B2B brands. Learn more at www.theb2bmarketing.co. Contact Details Kite Hill PR Michael Kocher cleandata@kitehillpr.com

November 07, 2022 01:00 PM Eastern Standard Time

READY FOR BUSINESS FUND IS DISTRIBUTING MORE THAN $200,000 IN CASH GRANTS TO 76 SMALL BUSINESSES IN WASHINGTON

Comcast Washington

SEATTLE, November 7, 2022 – The Ready for Business Fund – a relief program launched by GSBA, Washington State’s LGBTQ and allied chamber of commerce, and Comcast – is distributing $2,500 and $4,000 cash grants to 76 small businesses throughout Washington state. The Ready for Business Fund was founded in the summer of 2020 with an initial $100,000 investment from Comcast and designation of GSBA as the fund manager. To date, the fund has supported more than 200 small businesses in Washington with nearly $1 million in financial support and wraparound services. The Ready for Business Fund was renewed this year with an additional $75,000 in funding from Comcast and GSBA, reprising its role as the program and fund manager. Grants from the Ready for Business Fund will be made possible by more than $150,000 in additional donations from Pepsi, T-Mobile, US Bank, Meta, and Verity Credit Union and a $100,000 grant from King County. These funds will now support small business owners across all industries, including local restaurants, bookstores, bistros, shops and stores, which are an important part of the social fabric in our communities. “GSBA recognizes the importance of investing in the small businesses that are critical to a thriving community and economy,” said Ilona Lohrey, GSBA president and CEO. “We are proud to once again partner with Comcast to grow our Ready for Business Fund to support a diverse group of business owners who need our help now more than ever.” The Ready for Business Fund was created to support small businesses in Washington, especially those owned by LGBTQ people, Black, Indigenous and People of Color (BIPOC), and women, who are at greater risk in today’s uncertain economy. Grant recipients also include small businesses located in rural areas of Washington that lack proximity to resources. “We're grateful for our continued partnership with the GSBA to recognize so many resilient small businesses through the Ready for Business Fund,” said Diem Ly, Community Impact director, Comcast Washington. “We at Comcast believe and act on our shared value that ensuring equitable access to resources for BIPOC and LGBTQ-owned businesses means all of our communities and neighborhoods benefit in the long-run.” Feel free to adjust as you see fit! “Between recovery from the COVID-19 pandemic and concerns over inflation, our small businesses have faced some of the most difficult struggles over the last few years, and it is up to our community to step up and support them. That’s why partnerships like the one between King County, GSBA and Comcast are so imperative right now,” shared King County Councilmember Joe McDermott. GSBA assembled a selection committee consisting of diverse community and business leaders to evaluate the applications received. Notifications to grant applicants about the status of their application have begun and awards will be delivered beginning this week. All grant recipients will also receive wrap-around services, including GSBA membership and consulting. Ready for Business Fund grant recipients include: More information is available at theGSBA.org/ready-for-business. About GSBA Established in 1981, GSBA is Washington State's LGBTQ and allied chamber of commerce and is the largest of its kind in North America. The chamber represents over 1,400 small business, corporate, and nonprofit members who share the values of promoting diversity, equity, equality, and inclusion in the workplace. GSBA proudly serves as a connector across the region, bringing communities together through business while advocating for civil rights and small business. GSBA also promotes LGBTQ tourism through Travel Out Seattle, advocates for small businesses in Seattle’s Capitol Hill Neighborhood through the Capitol Hill Business Alliance (CHBA) and invests in the next generation of LGBTQ and allied leaders through the GSBA Scholarship & Education Fund. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 56 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. Contact Details Andy Colley Andy_Colley@Comcast.com Company Website https://www.thegsba.org/business-resources/ready-for-business

November 07, 2022 08:56 AM Pacific Standard Time

Catalis Names Scott Roza as Chief Executive Officer

Catalis

Catalis, a trusted technology partner for thousands of U.S. and Canadian government entities, announced today the appointment of Scott Roza as Chief Executive Officer. Roza succeeds John Kristel, who is moving from his role at Catalis to serve as a Senior Advisor to PSG. Roza joins Catalis with more than 20 years of experience leading and operating software businesses. He most recently served as the President and Global Head of Customer Operations at TIBCO, a leader in enterprise data, where he was responsible for the company’s global sales, alliances, professional services, and customer excellence functions. He brings distinct expertise in SaaS and the fintech sector, having served in senior roles at Clearwater Analytics and Guidewire Software, and as the CEO of Skytap. Roza is a distinguished marine engineering graduate of the U.S. Naval Academy and spent five years as a submarine officer in the U.S. Navy. Roza has been a Senior Advisor to TPG since 2019. “Catalis is enabling more than 7,000 government organizations across the country to meet the expectations of today’s consumer,” said Roza. “I’m excited to join the company at such a pivotal time in its history as we look to expand our solutions and impact as one of the only platforms of scale that delivers and optimizes government operations through one, integrated suite. I look forward to working with the talented Catalis team and our partners at PSG and TPG to implement a strategy of accelerated growth.” “The team at Catalis has successfully built a leading solution and platform that’s enabling the government sector to operate more effectively and efficiently for the benefit of constituents,” said Tullio Purtill, Principal at PSG. “Now, as the company looks to scale its platform, we believe Scott brings the right domain expertise and operating experience to take the company to the next level. We are grateful for John’s vision, leadership, and unwavering dedication over the past four years and know he will continue to be a great resource to the company going forward.” Formerly Government Brands, Catalis rebranded in August of 2022 as a tribute to the company’s mission to serve as a catalyst for creating a modern, digital government. The rebrand follows the company’s 2021 recapitalization by PSG and TPG and represents Catalis’ continued growth and evolution as a premier software and digital payments provider purpose-built for the space. “It’s been a privilege to lead Catalis since its early days and partner with the team on our journey to build the leading provider of advanced software solutions for governments across North America,” said Kristel. “Catalis has the potential to transform the way we engage with the public sector, and I look forward to supporting the company’s next chapter under Scott’s leadership.” About Catalis Catalis is the transformational SaaS and integrated payments partner powering all levels and sizes of government – municipal, county, state, and federal. With deep expertise, a proven track record, and innovative digital solutions, Catalis has empowered public servants across the U.S. and Canada to modernize government and engage citizens. For more information, visit www.catalisgov.com. Contact Details Catalis Eric Johnson, EVP Government & Legal Affairs +1 612-309-7111 eric.johnson@catalisgov.com Company Website https://catalisgov.com/

November 07, 2022 11:30 AM Eastern Standard Time

Volatus Aerospace Corp. Announces Record Third Quarter 2022 Revenue of $11.12MM

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company"), a global leader in the drone industry, is pleased to announce its financial results for the quarter ending September 30, 2022 ("Q3 2022"). The Company generated revenue of $22,558,010 in the first nine months of 2022. Revenue for Q3 2022 was $11,120,589 an increase of 68% over the previous quarter and a 238% increase over the same quarter in the prior year. The revenue increase in Q3 2022 was driven by organic growth, scale in drone services activities, and increased aviation revenue. Gross profit for Q3 2022 was $3,329,444 an increase of $2,597,024 over the same period in 2021. The increase in gross profit was due to the scale of drone services and aviation revenue. The Company has experienced a gross margin of 30%, representing an increase of 127 basis points over the second quarter of 2022. Volatus recorded a comprehensive loss of ($352,206). This was due to increased investment in human resources in the defense and integrated solutions segments, expansion in the UK, increased share-based payments, and increased advertisement and marketing expenses. The cash on hand as of Sept 30, 2022, was $6,021,163. In a subsequent event, the Company raised additional cash of $4,226,772 from the oversubscribed prospectus and private placement offering that closed on Oct 6, 2022. Notable Operational Accomplishments During the Quarter: Continued delivery of ISR (Intelligence, Surveillance, and Reconnaissance) Drones to Ukraine Introduced a subsidized Customer Financing Program for rapid drone adoption in the commercial segment in partnership with Mitsubishi HC Capital Canada. Secured remote BVLOS (Beyond Visual Line of Sight) approval to operate a drone, using an optical technology for detection and avoidance of aircraft without a visual observer, inside the airspace of an active airport. Demonstrated remote flight operation of two drones located in Las Vegas by a pilot located in the company’s remote operations center more than 3,000 km away in Canada. Entered into a strategic partnership with a radar company - Accipiter Radar Technologies Inc. - to scale BVLOS operations. Continued delivery on our “Profit with Purpose” initiative by completing RPAS technical skills training program with Moose Cree First Nation. Launched our Environment Social and Governance (ESG) initiative to assist various industries achieve their ESG goals by reducing Scope 3 emissions. “Q3 was an important quarter for Volatus as we continued to scale our investment in the defense sector and higher margin Engineered Solutions,” said Glen Lynch, CEO of Volatus. “The quarter also marked the beginning of a transition for our Aviation division as we moved away from passenger activities towards cargo and long linear inspections where drones and eVTOLS’s (electric vertical takeoff and landing vehicles) have a much larger role to play.” Webinar In conjunction with this release, Volatus investor relations will host a webinar on Monday, November 7 th at 4:30 PM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review the quarterly results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here. https://us06web.zoom.us/webinar/register/WN_uAeXAvY2SySzMEJf8FIi5g Audio Replay Options An audio replay of the event will be archived on the Investor Relations page of the company's website here. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Information This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward- looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 514-447-7986 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

November 07, 2022 06:32 AM Eastern Standard Time

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