Robinson Aircraft Ltd., a hybrid electric Vertical TakeOff and Landing aircraft developer, has announced a strategic investment in the form of a convertible note purchased by certain accounts of Canso Investment Counsel Ltd. and affiliated companies for an aggregate $6.7 million CAD.
Brandon Robinson, Chief Executive Officer and Co-Founder of Horizon Aircraft commented, “Canso has a strong history of supporting the growth of numerous businesses across Canada since its inception.
“We are proud and humbled to have Canso as a strategic partner. Canso is an experienced investor in aviation and space technology and is a champion of Canadian aerospace companies in particular.
“This investment is a landmark moment for our organization and will play a major part in Horizon Aircraft’s vision of building a better future and providing long-term value for our shareholders.”
Nic Desjardins, Portfolio Manager at Canso Investment Counsel Ltd., stated, “Horizon Aircraft’s management team give us the confidence to be able to support an innovative Canadian aerospace company that is making considerable progress with their project.
“We made this investment because we believe in their leadership, the value proposition of their unique technology and approach to developing it. We hope that the Cavorite program will have a resounding, positive impact on Canada’s communities and our citizens.”