Vancouver, British Columbia--(Newsfile Corp. - May 20, 2020) - Canada Jetlines Ltd. (TSXV: JET) (the "Company" or "Jetlines") is pleased to announce that Global Crossing Airlines, Inc. ("GlobalX") and SmartLynx Airlines have entered into a comprehensive commercial agreement covering several areas for cooperation and for the exchange of aircraft on damp lease during each airline's peak periods. A copy of the press release can be found here - https://www.globalairlinesgroup.com/news.html.
Additional Information
As previously announced, the Company and GlobalX have entered into a business combination transaction pursuant to which the Company will acquire all of the issued and outstanding shares of GlobalX (the "Transaction"). 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:
Canada Jetlines Ltd.
Carlo Valente, Chief Financial Officer
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.com