(JET: TSX-V)
VANCOUVER, June 28, 2018 /CNW/ - Canada Jetlines
Ltd. (JET: TSX-V) (the "Company" or "Jetlines")
reports that the nominees listed in the management information
circular for the 2018 Annual General and Special Meeting of
shareholders were elected as directors of Jetlines. Detailed
results of the vote for the election of directors held at the
Annual General and Special Meeting on June
27, 2018 in Vancouver,
B.C., are set out below:
|
% Votes
For
|
Votes
Withheld
|
% Votes
Withheld
|
Mark J.
Morabito
|
99.01%
|
78,458
|
0.99%
|
Deborah
Robinson
|
99.18%
|
65,134
|
0.82%
|
Réjean
Bourque
|
99.62%
|
30,074
|
0.38%
|
Jason
Grant
|
99.63%
|
29,234
|
0.37%
|
Saad
Hammad
|
99.02%
|
77,344
|
0.98%
|
Tony
Lefebvre
|
99.53%
|
37,458
|
0.47%
|
Shareholders at the Annual General and Special Meeting also
approved the appointment of Jetlines' auditors, the Amended Stock
Option Plan, Restricted Share Unit Plan, Performance Share Unit
Plan, the grant of certain stock options and Jetlines' Advanced
Notice By-Laws.
Subsequent to the Annual General and Special Meeting, Jetlines
appointed its new Chief Executive Officer, Mr. Lukas Johnson, as a director of the Company.
The Company also granted a total of 2,528,004 Restricted Share
Units ("RSUs") to directors and officers of the Company. The RSUs
vest over a three-year period from the date of grant, with
one-third vesting at the end of each year during the three-year
period.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada's first true 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.
For more information on Jetlines, please visit our website at
www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
Executive
Chairman
Canada 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.
Cautionary Note Regarding Forward-Looking
Information
This 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 business plan, the 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 receipt of financing to commence airline
operations, 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; 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, risks related to the
acceleration of payments under the agreement with Boeing to acquire
737-Max aircraft, 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.
SOURCE Canada Jetlines Ltd.