Canada Jetlines Announces Special Meeting Results

TORONTO, ON / ACCESSWIRE / November 14, 2023 / Canada Jetlines Operations Ltd. (NEO:CJET) ("Canada Jetlines" or the "Company"), the dynamic, all-Canadian leisure airline, announces the results of the Special Meeting held on November 14, 2023 in Mississauga, Ontario. Shareholders at the Special Meeting voted in favour of (i) an ordinary resolution approving the second and third tranche of the private placement (the "Offering") with Jetstream Aviation Inc. (the "Investor"); and (ii) a special resolution approving an amendment to Articles of Incorporation of the Company to set a new minimum number of directors at five and maximum number of directors at fifteen.

Now that shareholder approval has been received, the second tranche of the Offering will result in the Investor purchasing 29,416,635 common shares ("Shares"), for an aggregate purchase price of $5,063,344 issued at $0.1721252 per Share. The second tranche of the Offering is expected to close on or before December 4, 2023.

The Company has also confirms that it has filed an amendment to its Articles of Incorporation to set the minimum number of directors at five and maximum number of directors at fifteen.

About Canada Jetlines

Canada Jetlines Operations Ltd. (NEO:CJET), trading as "Canada Jetlines," is a Canadian leisure airline committed to providing an exciting travel experience to its passengers. With a growing network of destinations, Canada Jetlines is dedicated to connecting Canadians with some of the world's most captivating and sought-after locations.

More information on Canada Jetlines including its growing list of destinations can be found on www.jetlines.com. You can follow Canada Jetlines on all social media platforms and follow #CanadaJetlines for the latest news and updates.

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Twitter: @ca_jetlines

Facebook: @CAJetlines

LinkedIn: www.linkedin.com/company/jetlines

Media Contact:

[e-mail]

Investor Relations Contact:

Percy Gyara
Chief Financial Officer
Canada Jetlines Operations Ltd
[e-mail]
+1 647.921.7205

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes but is not limited to the Company's intention to operate as a leisure airline, the number of aircraft it intends to operate, the destinations of intended flights, timelines to launch schedules and destinations, growth plans and business of Jetlines.