Business
Global Crossing Airlines Announces Financing to Complete Certification
Miami, Florida--(Newsfile Corp. - January 15, 2021) - Global Crossing Airlines Group Inc. (TS...
About this update from Global Crossing Airlines Group, Inc.
[{"type":"text","content":"Global Crossing Airlines Announces Financing to Complete CertificationMiami, Florida--(Newsfile Corp. - January 15, 2021) - Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the \"Company\" or \"GlobalX\") announces that it intends to undertake a non-brokered private placement to raise up to a maximum of US$5.0 million (the \"Offering\"). The Offering consists of units issued at US$0.62 (approx. Cdn$0.80) per unit (each a \"Unit\"). Each Unit consists of one share of common stock (each a \"Share\") and one warrant (each a \"Warrant\"). Each Warrant entitles the holder thereof to purchase an additional Share for US$1.00 (approx. Cdn$1.27) for a period of 27 months after closing.The Company intends to use the net proceeds of the Offering to substantially complete the FAA certification process, substantially meet the US DOT economic fitness test, make aircraft deposit or lease payments, and for general corporate and working capital.The Offering is non-brokered, but the Company may pay finder's fees on certain subscription in an amount equal to 7% cash and 7% finder's warrants exercisable for Shares. The Offering is subject to the approval of the TSX Venture Exchange.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.About Global Crossing Airlines GroupGlobalX 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 www.globalxair.com.For more information, please contact:Jeff WalkerVice PresidentThe Howard Group Inc.Email: [email protected]: 403.221-0915Toll Free: 1-888-221-0915Cautionary Note Regarding Forward-Looking InformationThis 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...