Jetlines Announces Business Combination with Global Crossing Airlines - Seite 3

Prior to the closing of the Transaction, GLOBALX may receive commitments for financing for up to $20,000,000, to be raised in a series of tranches.

Additional Information

Full details of the Transaction will be included in the Definitive Agreement and Management Information Circular to be filed with the regulatory authorities and mailed to Jetlines shareholders in accordance with applicable securities laws. The Transaction is being conducted entirely at arm’s length. The name of the Resulting Issuer will be “Global Crossing Airlines Group”

Additional information as required will be provided by way of a subsequent news release. Trading in the common shares of the Company on the Exchange will remain halted until such time as the requirements of the Exchange are met.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Transaction is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Jetlines should be considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

For more information, please contact:
Carlo Valente, Chief Financial Officer
Toll Free: 1-833-226-5387
Email: [e-mail]  

For more information on Jetlines, please visit our website at www.jetlines.com.

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, statements with respect to (i) Jetlines’ and GLOBALX’s business objectives, operational timelines, and investment requirements; (ii) removal of conditions relating to the completion of the Transaction; (iii) execution of the Transaction Documents; (iv) completion of any concurrent financing; (v) receipt of TSXV, regulatory and shareholder approvals of the Transaction; and (vi) waiver of the sponsorship requirements.