Business
Global Crossing Airlines Announces Board Appointment and Capital Market Communications Programs
Miami, Florida--(Newsfile Corp. - June 29, 2020) -  Global Crossing Airlines Inc. ( TSXV:...
About this update from Global Crossing Airlines Group, Inc.
[{"type":"text","content":"Global Crossing Airlines Announces Board Appointment and Capital Market Communications ProgramsMiami, Florida--(Newsfile Corp. - June 29, 2020) -  Global Crossing Airlines Inc. (TSXV: JET) (the \"Company\" or \"GlobalX\") is pleased to announce the appointment of Mr. Zygimantas Surintas, CEO of SmartLynx Airlines (\"SmartLynx\"), to the Company's board of directors. His appointment follows the previously announced comprehensive commercial agreement covering several areas for cooperation and for the exchange of aircraft on damp lease during each airline's peak periods. The areas of cooperation include the reduction of costs through shared services, pilot and cabin crew recruitment and training.Mr. Surintas has significant executive experience with commercial businesses in North America and Europe combined. Since June 2016, he has held the position of CEO and Director of SmartLynx. SmartLynx is one of the leading EU based ACMI and charter operators on Airbus A320 and A321 aircraft. SmartLynx is a family member of Avia Solutions Group, the largest aerospace business group from Central & Eastern Europe in 2019, providing aviation services and solutions worldwide. The Company also announces that it has engaged The Howard Group as its capital markets communications advisor to direct both traditional and online initiatives targeting the investment, institutional, retail investors and investing groups. The agreement with The Howard Group (the \"Agreement\") is for one-year effective July 1, 2020. The remuneration payable to The Howard Group will be $7,500 per month plus GST. In addition, The Howard Group will be granted 150,000 options, vested over twelve months with a three-year term and an exercise price equal to $0.60 per share.Since 1988, The Howard Group has provided comprehensive investor outreach and capital markets programs, financing assistance, business development solutions and strategic planning to public companies. The Howard Group and members of The Howard Group collectively own 46,000 variable voting shares of GlobalX on a post consolidated basis. The Company will pay the monthly fee from its cash on hand. The Agreement and grant of options are subject to TSX Venture Exchange approval.In addition, The Howard Group Inc. will be providing an ongoing commentary on GlobalX's activities through its \"Insight blog. Int...