Jet Metal Announces Filing of Preliminary Prospectus and Provides Canada Jetlines Transaction Update - Seite 2

Each Unit will consist of, depending on the residency of the purchaser, one common share or one variable voting share of the Company after the completion of the Transaction (each, a "Unit Share") and one half of one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase, depending on the residency of the purchaser, one common share or one variable voting share of the Company (each, a "Warrant Share") at a price of $0.50 at any time up to 5:00 p.m. (Vancouver time) on the date which is 24 months from the date of the Release Notice.

The Company has granted to the Agents an option (the "Agent's Option") to offer for sale up to an additional 5,000,000 Subscription Receipts in the case of the Maximum Offering (the "Agents' Option Subscription Receipts") at the Offering Price. The Agent's Option is exercisable in whole or in part in the sole discretion of the Agents at any time up to 48 hours from the closing date of the Offering ("Closing Date") and may be exercisable by the Agents to acquire Agent's Option Subscription Receipts at the Offering Price. For certainty, the number of Agents' Option Subscription Receipts issued in connection with the exercise of the Agent's Option shall not exceed 15% of the number of Subscription Receipts issued pursuant to the Offering.

The Company has agreed to: (i) pay the Agents a cash commission equal to 6.0% of the gross proceeds of the Offering, (ii) issue to the Agents such number of share purchase warrants (each, an "Agents' Warrant") as is equal to 6.0% of the number of Subscription Receipts sold under the Offering, with each Agents' Warrant entitling the holder to acquire one Unit at the Offering Price until the date that is 24 months from the date of the Release Notice, (iii) pay the Agents a work fee in the amount of $25,000 plus HST, (iv) reimburse the Agents for their reasonable expenses in connection with the Offering, and (v) pay the Agents an advisory fee consisting of an additional cash commission equal to 1.5% of the gross proceeds of the Offering and issue to the Agents such number of Agents' Warrants as is equal to 1.5% of the number of Subscription Receipts sold under the Offering, with each Agents' Warrant entitling the holder to acquire one Unit at the Offering Price until the date that is 24 months from the date of the Release Notice.