VANCOUVER, British Columbia, Dec. 22, 2017 — Canada Jetlines Ltd. (TSXV:JET) (OTCQB:JETMF) (the “Company” or “Jetlines”) at the request of IIROC Market Surveillance, on behalf of the TSX Venture Exchange, announces that the Company is not aware of any material undisclosed development at this time that would cause the recent upward movement in the Company's share price.
About Canada Jetlines Ltd.Canada Jetlines is set to become Canada’s first ultra-low cost carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. Jetlines is led by a board and management team with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests.Jetlines plans to operate modern Boeing 737-800NG aircraft in a 189 seat, all-coach configuration. Additional services for baggage, seat selection and onboard beverages will be available to customers for an additional charge. Jetlines is planning to begin ticket sales through its website www.jetlines.ca in Spring 2018 and targeting start of flight operations for Summer 2018, subject to government approval.For more information on Jetlines, please visit our website at www.jetlines.ca.ON BEHALF OF THE BOARD
“Mark J. Morabito”Executive ChairmanCanada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.For more information, please contact:
The Howard Group Inc.
Tel: (403) 221-0915
Toll Free: 1-888-221-0915
Jeff Walker: [email protected]
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 the airports that Jetlines intends to utilize, the routes that Jetlines intends to fly, Jetlines business plan, the timelines for ticket sales and the start of airline operations, Jetlines ability to offer ultra-low fares, and future airline operations of the Company.In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the accuracy, reliability and applicability of the Jetlines’ business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada, the United States, Mexico and other jurisdictions where Jetlines may operate; the timely commencement of operations by Jetlines and the success of such operations; the ability of Jetlines to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Jetlines will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ business strategy; the completion of financing for airline operations; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to acts of God, the impact of general economic conditions, changing domestic and international airline industry conditions, volatility of fuel prices, increases in operating costs, terrorism, pandemics, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund operations may not be obtained and the additional risks identified in the “Risk Factors” section of the Company's reports and filings with applicable Canadian securities regulators.Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
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