Volato Group Inc. (NYSE American: SOAR) announced that shareholders approved its merger with M2i Global Inc. (OTCQB: MTWO), with 99% of shares present or represented by proxy voting in favor of the transaction.

The special meeting saw 15.1 million shares present or represented, accounting for approximately 40% of total shares entitled to vote. The merger is expected to close by the end of the second quarter of 2026, subject to remaining closing conditions.

Under the merger terms, M2i Global will merge with a Volato subsidiary, with M2i Global continuing as the surviving entity and wholly owned subsidiary of Volato. Upon completion, existing M2i Global shareholders are expected to own approximately 85% of the combined company, while Volato shareholders will own approximately 15% on a fully diluted basis, excluding warrant shares.

The transaction will mark Volato's entry into the critical minerals market, which the company states reached $400 billion in 2025. The combined entity plans to leverage M2i Global's mining, refining, and recycling capabilities alongside Volato's software and data systems expertise.

"We believe today's shareholder vote is a strong endorsement of the strategic rationale for combining Volato with M2i Global," said Mark Heinen, Volato's Chief Financial Officer.

Major General (Ret.) Alberto C. Rosende, CEO of M2i Global, stated that the critical minerals market "is foundational to U.S. industrial strength and national security" and the merger positions the combined company to pursue opportunities across the value chain.

Volato will file final voting results in a Form 8-K with the Securities and Exchange Commission within four business days, according to the company's statement.