Canada Jetlines Confirms Shareholder Approval of Transaction and Provides Details of GlobalX Online Presentation

About this update from Global Crossing Airlines Group, Inc.

[{"type":"text","content":"Canada Jetlines Confirms Shareholder Approval of Transaction and Provides Details of GlobalX Online PresentationVancouver, British Columbia--(Newsfile Corp. - June 2, 2020) - Canada Jetlines Ltd. (JET: TSX-V) (the \"Company\" or \"Jetlines\") is pleased to announce that its shareholders have overwhelmingly approved the business combination transaction (the \"Transaction\") of Global Crossing Airlines, Inc. (\"GlobalX\") and Jetlines. At Jetlines' Special Meeting of shareholders, 95.89% of the common and variable voting shares were voted in favour of the Transaction. With shareholder approval of the Transaction completed, GlobalX and Jetlines are working to satisfy the final closing conditions. The parties are anticipating that all closing conditions will be satisfied or waived in June 2020, such that the closing of the Transaction can occur during the current month.The Company also announces that GlobalX's Chairman and CFO will be providing an online presentation on Thursday, June 4, 2020 at 11:00 a.m. (PDT) / 2:00 p.m. (EDT). In this presentation, GlobalX presentation will be providing an overview of the market opportunity provided by GlobalX as a Miami based charter airline servicing airlines, tour operators and leasing companies on a global basis. They will also be answering questions from investors. Any one who is interested in joining the online presentation can register through the link below:Online Presentation: https://us02web.zoom.us/webinar/register/WN_fhjfXOAkQuytwbpJROpAtg About Global Crossing AirlinesGlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.For more information please visit https://www.globalairlinesgroup.com/ Miami based AVi8 Air Capital, LLC advised and structured the transaction on behalf of GlobalX.Additional Information The Company also announces that in connection with the Transaction it intends to settle approximately Cdn$145,000 of debt due to certain creditors through the issuance of approximately 418,000 common shares (post-Consolidation) at a deemed price of US$0.25 per share (the \"Shares for Debt Settlement\"). The board and management of the Company believe that the proposed Shares for Debt Settlem...

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