Friday, May 30, 2025

Latest

Canada Jetlines Upsizes Financing After Inaugural Flight

Following its inaugural flight occurring just yesterday, Canada Jetlines (NEO: CJET) is looking to raise additional funds under a previously announced financing. The firm this morning revealed it is looking to raise additional capital to support its balance sheet as well as for aircraft acquisitions.

Under the terms of the financing, the company is now looking to raise $2.0 million, up from the prior $1.5 million, in an offering consisting of units of the company. Each unit, priced at $0.255, contains one common or variable voting share, as well as one half warrant. Warrants are valid for a period of two years after closing and contain an exercise price of $0.40.

In a bid to encourage internal ownership, the company is also offering an incentive exclusive to its employees, whereby they will receive one additional unit for every six units purchased under the offering.

The upsized financing follows the firm yesterday completing its inaugural flight, which flew from the Toronto Pearson International Airport to the Calgary International Airport. The carrier is currently conducting two flights a week between the two centers, with the frequency set to increase to three times per week later this year. The first flights were originally scheduled late last month.

Canada Jetlines last traded at $0.30 on the Neo.


Information for this briefing was found via Sedar and the companies mentioned. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Canada Jetlines Sees Sudden Exodus Of Board Members, CEO

Canada Jetlines Operations (CBOE: CJET) appears to have just imploded, with a number of the...

Tuesday, August 13, 2024, 09:42:39 AM

Canada Jetlines Sees CEO Resign, Board Chair To Assume Role On Temporary Basis

Canada Jetlines (CBOE: CJET) has seen its chief executive officer hand in his resignation notice....

Friday, May 31, 2024, 08:42:20 AM

Canada Jetlines Shuts Down After Struggles to Stay Afloat 

Canada Jetlines Operations Ltd. (Cboe CA: CJET), a Mississauga-based airline that launched operations in 2022,...

Thursday, September 12, 2024, 02:34:00 PM

Canada Jetlines To Begin Trading On The Neo Tomorrow

Canada Jetlines, whom was previously a subsidiary of Global Crossing (TSXV: JET), this morning announced...

Tuesday, October 12, 2021, 09:08:24 AM

Canada Jetlines Makes Filing Under Bankruptcy And Insolvency Act

Just days after ordering a halt to its operations, Canada Jetlines (CBOE: CJET) has announced...

Wednesday, August 21, 2024, 08:27:57 AM