M2i Global Inc (OTCMKTS: MTWO) and Volato Group Inc (NYSEAMERICAN: SOAR) (OTCMKTS: SOARW) just took a step forward at Nevada’s Hawthorne Army Depot. They have secured a tenant use agreement that allows them to develop and operate a critical mineral repository there.
This milestone agreement, revealed on May 5, advances plans the companies announced last year to establish a secure storage, processing and distribution hub for strategic minerals at the site. It will grant M2i Global and Volato the formal legal right to actually develop, operate, store, process and distribute strategic minerals on the site. This represents meaningful progress from the 2025 letter of support and conceptual roadmap.
M2i is a firm that focuses on creating supply chains for critical minerals and metals that the United States needs for defence equipment, electric vehicles and electronics. The company sources materials, handles recycling from scrap and batteries and pursues partnerships to meet these ends.
Volato started as a private jet company offering fractional ownership for aircraft, charters and on-demand flights (booked on short notice). It has since shifted focus toward its aviation software tools for managing flights, crews and operations, and now applies that tech expertise to other industries through the merger.
The companies first announced their business collaboration last year, a move that sent Volato shares up 20 per cent. On Apr. 28, M2i’s controlling shareholder approved the deal through its super-voting preferred shares, as highlighted in a press release. Volato shareholders will vote on the transaction soon, with the structure giving M2i holders majority ownership in the combined public company. The main incentive is to blend M2i’s minerals work with Volato’s technology and structure to build something bigger that can compete in a market dominated by foreign suppliers.
M2i Global, Volato Group Receive Tenant Use Agreement By Hawthorne Army Depot Over Development, Operation Of Critical Mineral Repository In Nevada$SOAR ➡️ $.2594 https://t.co/UJKCErWjNB
— SmallCapKing – aka “Bob” (@SmallCapBob2) May 5, 2026
Read more: NevGold raises up to CAD$25M to fast-track Limo Butte development
Army depot serves as strategic foundation for U.S. critical minerals efforts
The facility has long functioned as a key defence logistics centre. Planners are now using its secure setting and infrastructure to host the nation’s first private initiative resembling a strategic minerals reserve. This setup enables efficient handling of materials such as gallium, graphite and copper.
Nevada’s strong mining culture and favourable permitting environment make the depot an even more powerful asset for rebuilding domestic supply chains. The state has been seeing renewed interest in critical minerals, including antimony — a metal essential for military applications, flame retardants and solar panels. NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) is one state operator that is advancing antimony recovery at its Limousine Butte project by reworking historic gold leach pads, turning old waste into a modern resource.
Others in the region, including lithium developers and copper explorers, further strengthen Nevada’s contribution to domestic supply chains and help ease import vulnerabilities.
Battery recycling another key part of their domestic push
On Apr. 20, M2i and Volato announced partnering with Regenerate Technology Global to bring advanced hydrometallurgical recycling methods to the United States. These processes handle lithium-ion and other battery types while generating fewer emissions and recovering higher-quality materials than older smelting approaches.
The team is evaluating promising U.S. locations and drawing on Regenerate’s European track record plus patents linked to Cambridge University research.
This recycling work connects smoothly with the depot initiative. Both efforts help cut costs. Leaders are applying lessons from previous battery facility builds and government-supported projects to accelerate progress.
Read more: NevGold reports more positive drill results as gold-antimony resource estimate nears
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