Business
Jetlines and Global Crossing Airlines Execute Definitive Agreement
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2020) - Canada Jetlines Ltd. ( TSXV...
About this update from Global Crossing Airlines Group, Inc.
[{"type":"text","content":"Jetlines and Global Crossing Airlines Execute Definitive AgreementVancouver, British Columbia--(Newsfile Corp. - February 6, 2020) - Canada Jetlines Ltd. (TSXV: JET) (OTCQB: JETMF) (the \"Company\" or \"Jetlines\") is pleased to announce that further to the news release by the Company on December 13, 2019, the Company has now entered into a definitive agreement (the \"Definitive Agreement\") with Global Crossing Airlines, Inc. (\"GLOBALX\") with respect to a business combination of Jetlines and GLOBALX (the \"Transaction\"). The parties are now preparing the disclosure documents required by the TSX Venture Exchange (\"Exchange\") and the Company will call a shareholders meeting to approve certain elements of the Transaction once required approvals have been received.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.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 OfficerToll Free: 1-833-226-5387Email: [email protected] more information on Jetlines, please visit www.jetlines.com.Cautionary 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 with respect to (i) the calling of a shareholders meeting; a...