08:56 AM EDT, 06/12/2025 (MT Newswires) -- Volato ( SOAR ) said Thursday it has signed a non-binding term sheet to acquire mining and extraction firm M2i Global.

Upon completion of the proposed acquisition, M2i Global will own around 90% of the total issued and outstanding stock of Volato ( SOAR ), the company said in a statement.

The combined company will aim to be listed on the NYSE American and is expected to integrate key business lines, according to the statement.

After the closing of the transaction, M2i CEO Alberto Rosende will assume the same role in the combined company, while Volato ( SOAR ) CEO Matt Liotta will continue to serve on the board of the combined company and become its president, heading the aviation and software operating unit. Volato CFO Mark Heinen will retain his role in the combined company, Volato ( SOAR ) said.

Volato ( SOAR ) shares were up nearly 60% in recent premarket activity on Thursday.