Canada Jetlines announces equity financing – Natural Self Esteem

TORONTO–(BUSINESS WIRE)–Canada Jetlines Operations Ltd. (NEO: CJET) (“Canada jet lines“), the new all-Canadian leisure airline announced that it intends to complete a non-brokered private placement to raise $2,850,000 (the “offer“). The offer consists of units issued at $0.35 per unit (each a “Unit“). Each Unit consists of one common share (each a “Share”) and one half warrant (each whole Warrant a “warranty“). Each warrant entitles the holder to purchase one additional share for a period of 48 months from closing at a price of $0.50 per warrant share for the first two years from issuance; and $0.65 per warrant share for the third and fourth years from issuance.

The Company intends to use the net proceeds from the Offering to advance the Canadian airline licensing process and for general corporate and working capital purposes. Completion of the offering is subject to customary closing conditions, including receipt of Neo Exchange Inc.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States , unless there is US registration or an applicable exemption from US registration requirements.

About Canada Jetlines

Canada Jetlines is a well-capitalised, leisure-oriented airline operating a growing fleet of Airbus320 aircraft targeted for launch in summer 2022, subject to Transport Canada approval. The airline was formed to offer Canadian consumers more choice and travel options to fly to desirable sun and leisure destinations in the United States, the Caribbean and Mexico. With projected growth of 15 aircraft by 2025, Canada Jetlines aims to offer the industry’s best operating economics, customer convenience and fly-by-wire technology, delivering an elevated guest-centric experience from the first touchpoint. The efficient aircraft design, fused with the experience of the all-Canadian management team, enables accessible flight options without sacrificing quality or comfort. The airline will use a state-of-the-art web booking platform that will provide travel agents, tour operators and consumers with a turnkey solution with the ability to generate revenue from reservations and ancillary sales. Our goal is to provide more revenue opportunities to show our gratitude to current and future agent partners and all the work they do. We look forward to working with you to create memorable travel experiences for consumers. To find out more, please visit and follow all social media platforms for news and updates.

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Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” regarding anticipated developments and events that may occur in the future. Forward-looking information contained in this press release includes, but is not limited to, the Company’s intention to operate as a leisure airline, its intention to offer the lowest possible fare, the number of aircraft it intends to operate, the destinations of its intended flights , the completion of the CTA and Transport Canada approval process, growth plans, the proposed timeline for beginning service of destinations, Jetlines’ business and use of proceeds from the Offering.

In certain instances, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “planned”, “estimates”, “forecast”, “intends”, “anticipated” or deviations from such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “be taken”, “occur” or “be achieved”, which are indicative of future results, or other expectations, Beliefs, plans, goals, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions, including, but not limited to, obtaining financing to commence operations, the accuracy, reliability and success of Jetlines’ business model; the timely receipt of regulatory approvals, including from CTA and Transport Canada; Jetlines Completes Definitive Agreements for Aircraft to Begin Flights; the timely commencement of jetline operations and the success of such operations; the legal and regulatory environment of the jurisdictions in which Jetlines does business or has operations; the impact of competition and the response of competition to Jetlines’ business strategy; and aircraft availability. Although the Company believes these assumptions to be reasonable based on the information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information . These factors include risks related to the ability to obtain financing on acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the Company’s failure to enter into definitive agreements to acquire aircraft, and supply chain disruptions causing anticipated delays, schedules, the impact of global uncertainty caused by COVID-19, future shareholder relationships, fuel price volatility, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of the Managements, implementing Jetlines’ operational strategy, the ability to attract qualified management and personnel, labor disputes, regulatory risks, including risks related to obtaining the necessary licenses and G approvals from Transport Canada, the Canadian Transportation Agency and other regulatory authorities, and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with relevant Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended stand out. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information.

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