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Global Crossing Airlines Adds Senior Airline IT Executive Edgar Green

GlobalX will fully digitize to drive maximum efficiency and performance

August 5, 2020

(JET: TSX-V)
(OTC: JETMF)

MIAMI, FLORIDA, August 5, 2020 – Global Crossing Airlines Inc. (JET: TSX-V; JETMF: OTC) (the “Company” or “GlobalX”) is pleased to announce the appointment of Mr. Edgar Green as Head of Information Technology (IT).

Mr. Green comes to GlobalX with over fifteen years of direct low cost airline related IT experience with two major US LCC airlines. Mr. Green spent over seven years at Allegiant Airlines where he served as Director, Enterprise Program Management Office which allowed the senior management team to drive greatly improved decision making with its large scale/cross-functional enterprise-level solutions. He also modernized the electronic flight bag, maintenance mobile app and other data driven operations.

Prior to Allegiant, Mr. Green served for seven years as Senior Manager IT Quality Assurance at Spirit Airlines where he worked to implement new IT systems within the airline’s operations to drive higher levels of profitability.

Mr. Green will be instrumental in building GlobalX’s IT infrastructure to achieve a total digitization of the airline from charter flight planning, crew planning, maintenance control as well as on the ramp and in the cockpit. These efforts will lower GlobalX costs by allowing for reduced headcount, increased efficiencies, and support an overall best-in-class organization.

GlobalX CFO Ryan Goepel commented on the appointment, “As we move closer to FAA certification, we continue to add tenured, experienced aviation professionals to the GlobalX team and welcome Edgar Green as Head of IT. Together we are building the most cost efficient and performance-focused passenger airline for our charter customers and investors.”

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Tel: 914.646.5012

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company’s intention to fly as an ACMI and wet lease charter airline, its intention to use Atlantic City as a hub and destination, the development of programs for cruise lines and planned operations in the Bahamas.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Chairman, CEO & Founder Ed Wegel to Share Progress with Investors on FAA Certification process, Aircraft Procurement, Charter & Airline Relationships

July 24, 2020

Miami, Florida--(Newsfile Corp. - July 24, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (OTC Pink: JETMF) (the "Company" or "GlobalX") pleased to announce that its Chairman, CEO and Founder Ed Wegel will be sharing an update with Investors and channel partners on the meaningful milestones and progress the business has made to-date, as well as its steady and planned runway for take-off, growth and profitability.

  • Date: Tuesday July 28th 02:00 PM Eastern Time (US and Canada)

All Investors are invited to join the meeting for the presentation, to be followed by a question and answer session:

Topic: Global Crossing Airlines CEO Provides Update On Business Progress

Time: Jul 28, 2020 02:00 PM Eastern Time (US and Canada)

Join Zoom Meeting:
https://us02web.zoom.us/j/88998256683/

Meeting ID: 889 9825 6683

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About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Tel: 914.646.5012

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company's intention to fly as an ACMI and wet lease charter airline, its intention to use Atlantic City as a hub and destination, the development of programs for cruise lines and planned operations in the Bahamas.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX's business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Builds Marketing and Sales Team: Mark Salvador Joins the Airline Group as Vice President of Charter Marketing

July 23, 2020

Miami, Florida--(Newsfile Corp. - July 23, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (OTC Pink: JETMF) (the "Company" or "GlobalX") is pleased to announce the appointment of Mr. Mark Salvador as Vice President of Charter Marketing.

Mr. Salvador comes to GlobalX with over 17 years of experience in the travel industry with successful tenures at Carnival Cruise Lines, where he served as Global Head of Business Development for six cruise brands, The Palms Resort in Las Vegas, where he served as VP-Marketing, and Caesars Entertainment, where he was National Director of Marketing. In these positions, Mark has worked with and developed air charter programs for some of the world's leading travel brands.

Mr. Salvador will be instrumental in building GlobalX's Atlantic City operation, planned operations in the Bahamas, as well as developing charter programs for the world's major cruise lines.

Mr. Salvador commented on his appointment: "I'm honored to be joining the GlobalX team during this exciting time in the company's development. In particular I am excited to be working on our Atlantic City focus hub, and also in developing programs with all of the major cruise lines as they introduce safe travel options for their passengers."

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Tel: 914.646.5012

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company's intention to fly as an ACMI and wet lease charter airline, its intention to use Atlantic City as a hub and destination, the development of programs for cruise lines and planned operations in the Bahamas.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX's business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Signs with Leading Supplier for Aviation Fuel Credit Facility and Fuel Risk Management Services

July 16, 2020

(JET: TSX-V)

Miami, Florida--(Newsfile Corp. - July 17, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (the "Company" or "GlobalX") has signed a $1 million credit line facility (the "Facility") with AEG Fuels ("AEG"), a Miami based supplier of fuel management and pumping capabilities at over 3000 airports worldwide. AEG has been in fuel services business for over 30 years and works with over 2500 customers worldwide.

Ryan Goepel, CFO of GlobalX, stated, "We are very pleased to be working with AEG as we continue through our certification which will include fuel management for our proving run flights, and then as we commence scheduled charter services throughout North and South America."

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets. For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company's intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights, the completion of the certification process and the details of the fuel management arrangement.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX's business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Acquires First A320 Aircraft and Retains Market-Making Services

July 16, 2020

(JET: TSX-V)

Miami, Florida--(Newsfile Corp. - July 16, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (the "Company" or "GlobalX") announces that it has signed a letter of intent to acquire by purchase one A320-200 aircraft (the "Aircraft"). The specific aircraft data for the Aircraft has now been incorporated into the GlobalX manual set which has now been submitted to the FAA under Phase 2 of GlobalX's certification. Additional details regarding the Aircraft will be provided in the near term.

The Company also announces that, subject to regulatory approval, it has retained Venture Liquidity Providers Inc. ("VLP") to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common voting and variable voting shares of the Company.

The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the Company has agreed to pay VLP Cdn$5,000 per month for a period of 12 months. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX Venture Exchange listed issuers.

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets. For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company's intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights and the details of the letter of intent to acquire an aircraft.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX's business model; the timely receipt of governmental approvals; GlobalX concluding a definitive agreement for the Aircraft; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the failure of the Company to conclude a definitive agreement to acquire the Aircraft, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Signs Airport Use Agreement With Atlantic City International Airport

July 8, 2020

(JET: TSX-V)

MIAMI, FLORIDA, July 8, 2020 – Global Crossing Airlines Inc. (JET: TSX-V) (the “Company” or “GlobalX”) is pleased to announce the signing of an Airport and Terminal Use agreement with Atlantic City International Airport ("ACY") in Egg Harbor Township, New Jersey. GlobalX is also exploring with the South Jersey Transportation Authority, the owner and operator of ACY, the potential signing of a Land Lease agreement for the development of a new hangar and maintenance facility at ACY.

"We are thrilled GlobalX has chosen ACY for their northern charter base of operations," said South Jersey Transportation Authority Executive Director, Stephen F. Dougherty. "We look forward to working with GlobalX on developing a presence at the Airport, within Atlantic County, and throughout the South Jersey region."

ACY is ideally located as a northern charter base of operations for GlobalX, near the major metropolitan centers of the northeast US. GlobalX also intends to operate scheduled charters into ACY from Toronto and Montreal, as well as a number of US cities, to support the hotel and casino businesses in Atlantic City, beginning by the summer of 2021.

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets. For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations
Email: mark.tender@globalairlinesgroup.com

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company’s intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights and the development of a hangar and maintenance facility.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Names Dean of the University of Miami Business School to Airline’s Advisory Board

July 7, 2020

(JET: TSX-V)

MIAMI, FLORIDA, July 7, 2020 – Global Crossing Airlines Inc. (JET: TSX-V) (the “Company” or “GlobalX”) is pleased to announce the appointment of Mr. John Quelch to the GlobalX Advisory Board. He will be working with GlobalX’s board and management on current trends in corporate governance, leadership and executive and team training.

Mr. Quelch is a professor and dean of the University of Miami Herbert Business School. He has previously held leadership positions at Harvard Business School, London Business School, and the China Europe International Business School.

From 2002-2011, Dean Quelch was Chairman of the Board of the Massachusetts Port Authority, overseeing three airports and the seaport of Boston.

He has previously served on the boards of Reebok and Easyjet, PLC, one of the leading low cost airlines in Europe operating the Airbus A320 and as a consultant to American Airlines.

Dean Quelch was appointed Commander of the Order of the British Empire (CBE) in the 2011 Queen's Birthday Honours for services to the promotion of British business interests and prosperity. He was awarded the Ellis Island Medal of Honor in the US in 2020.

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations Email: mark.tender@globalairlinesgroup.com

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company’s intention to fly as an ACMI and wet lease charter airline.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines strengthens technical expertise with key management appointment

Christian Toro joins new airline group as Vice President of Technical Operations & Director of Maintenance

July 5, 2020

(JET: TSX-V)

MIAMI, FLORIDA, July 6, 2020 – Global Crossing Airlines Inc. (JET: TSX-V) (the “Company” or “GlobalX”) is pleased to announce the appointment of Mr. Christian Toro as Vice President of Technical Operations and Director of Maintenance.

Mr. Toro comes to Global X with 35 years of experience and following successful tenures at both Southwest Airlines, where he served as Chief Inspector and Allegiant Airlines, where he served as both Chief Inspector and later Vice President of maintenance and Engineering.

During his tenure at Allegiant, Toro was instrumental in working through the airline’s MD-80 reliability issues, and then successfully transitioning the airline to a modern fleet of Airbus A320s. At Allegiant he oversaw the induction of over 60 Airbus A320 aircraft.

Prior to Allegiant he was Director of Quality Control/ Chief Inspector at Southwest Airlines where he instituted an industry-leading quality culture to enhance and improve compliance, safety as well as fleet dispatch reliability.

Mr. Toro started his career in maintenance management positions at UPS Airlines. His excellent relationships across the industry and reputation with the FAA will be valuable assets to GlobalX as the A320 certification process continues.

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.For more information please visit https://www.globalairlinesgroup.com/

For more information, please contact:

Mark Tender, Head – Corp. Communications & Investor Relations Email: mark.tender@globalairlinesgroup.com

Or

Jeff Walker, Vice President – The Howard Group
Email: jeff@howardgroupinc.com
Tel: 403.221.0915
Toll Free: 1.888.221.0915

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 Company’s intention to fly as an ACMI and wet lease charter airline.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

Global Crossing Airlines Announces Closing of Business Combination Transaction

June 23, 2020

(JET: TSX-V)

Malta and Miami, Florida USA

MIAMI, FL, June 23, 2020 – Global Crossing Airlines Inc. (JET: TSX-V) (the “Company” or “GlobalX” formerly known as Canada Jetlines Ltd.) is pleased to announce that it has closed the business combination of Global Crossing Airlines, Inc. (“Global USA”) and the Company (the “Transaction”), including the completion of a US$1,543,600 million financing. Trading of the Company’s common shares will resume at the opening on June 25, 2020 under the ticker symbol “JET” on the TSX Venture Exchange.

Closing of Business Combination Transaction

The Company has closed the previously announced Transaction. On the closing of the Transaction, the Company changed its name to Global Crossing Airlines Inc. and consolidated its issued and outstanding common and variable voting shares (each a “Share”) on the basis of one post-consolidation Share for every ten pre-consolidation shares. Global USA is now a wholly-owned subsidiary of the Company. The common shares of the Company will commence trading on the TSX Venture Exchange as a Tier 2 industrial issuer under the symbol “JET” on June 25, 2020.

Prior to the closing of the Transaction, the Company issued 415,150 Shares (post-consolidation) to settle outstanding debt of approximately US$103,787.50 due to certain creditors through the issuance of approximately 415,150 Shares (post-Consolidation) at a deemed price of US$0.25 per Share and a further 48,809 Shares to settle Cdn$129,344.91 in debt at a deemed price of Cdn$2.65 per Share. The Company has also issued a total of 1,237,000 stock options and 342,000 restricted share units to directors, officers, employees and consultants, with the stock options exercisable at US$0.25 for a five-year period.

After giving effect to the Transaction and the Offering (defined below), there will be 27,306,200 Shares of the Company issued and outstanding (calculated on a non-diluted basis).

Closing of Financing

In connection with the Transaction, the Company completed a financing for gross proceeds of US$1,543,600 million financing (the “Offering”). The Offering consisted of 6,174,400 units issued at US$0.25 per unit (each a “Unit”). Each Unit consists of one Share and one warrant (each a “Warrant”). Each Warrant entitles the holder thereof to purchase an additional Share for US$0.50 for a period of 24 months after closing of the Offering. The Company increased the size of its maximum offering by US$43,600, with such additional proceeds being allocated to working capital.

In connection with the Offering, the Company paid finder’s fee consisting of US$16,037.50 in cash and issued 64,150 finder’s warrants exercisable to purchase a Share for US$0.25 for a period of 24 months after closing of the Offering.

All securities issued in the Offering are subject to a four month hold period that expires on October 24, 2020.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Additional Information

Additional information as required as required can be found in the Company’s Management Information Circular dated March 30, 2020 (available on SEDAR at www.sedar.com).

Investors are cautioned that, except as disclosed in the Management Information Circular, 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 GlobalX 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.

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

Miami based AVi8 Air Capital, LLC advised and structured the Transaction on behalf of Global USA.

For more information, please contact:

Global Crossing Airlines Inc.
Email: Ryan.goepel@globalairlinesgroup.com
Media Contact: mark.tender@globalairlinesgroup.com

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 and operations of the Company.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s 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; 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 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.

SmartLynx and Global Crossing Airlines Announce Comprehensive Commercial Agreement

May 20, 2020

Malta and Miami, Florida USA

SmartLynx Airlines (“SmartLynx”) and Global Crossing Airlines (“GlobalX”) today announced a comprehensive commercial agreement covering several areas for cooperation and for the exchange of aircraft on damp lease during each airline’s peak periods.

The areas of cooperation include the reduction of costs through shared services, pilot and cabin crew recruitment and training.

As part of the agreement, Zygimantas Surintas, CEO of SmartLynx, will join the board of directors of GlobalX.

“SmartLynx has more than 28 years of experience operating A320s in Europe, Asia and Latin America and their sharing of best practices will be invaluable to GlobalX as we launch and grow our fleet of A320s to become the leading narrow body charter operator in the US, Caribbean and Latin American markets.

We look forward to working closely with their teams and management as we continue our FAA and DOT certification and prepare for launch.” said Joseph DaGrosa, Chairman and Lead Investor of GlobalX.

“As the current worldwide situation in aviation is showing us now is a good moment for entering the US market and expanding our business reach even further, we are glad to have the opportunity to join GlobalX project.

We have been impressed with the GlobalX team and their plans for launching a new A320 charter airline in the US. The long-term benefits of our companies’ synergy are well recognized. A unique platform of SmartLynx business model and extensive experience are great benefits for GlobalX - sharing our knowledge in all functional airline departments including maintenance, flight operations, and the application of new technologies. We also look forward to seeing our aircraft and crews operating for GlobalX in the winter months, and to welcoming their aircraft and crews to Europe during our peak summer months in Europe.” said Zygimantas Surintas.

About SmartLynx Airlines

SmartLynx Airlines is one of the leading EU based ACMI and charter operators on Airbus A320 and A321 aircraft. The company’s market expansion plans are to be complemented by the expected FAA approval for the SmartLynx Malta subsidiary.

SmartLynx Airlines is a family member of Avia Solutions Group, the largest aerospace business group from Central & Eastern Europe in 2019, providing aviation services and solutions worldwide.

Avia Solutions Group provides state-of-the-art solutions to aviation industry and beyond.

For more information please visit www.smartlynx.aero

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

Media Contacts:

For Smartlynx
Snezana Tomic, Brand and Communications Manager
Snezana.tomic@smartlynx.aero

For Global Crossing Airlines (GlobalX)
Ryan Goepel, EVP & CFO
Ryan.goepel@globalairlinesgroup.com

Mark Tender, Head of Corp Communications/Investor Relations
mark.tender@globalairlinesgroup.com

Global Crossing Airlines and Canada Jetlines Ltd. (JET: TSX-V) Announce CAD100 Million Equity Investment Agreement with The Global Emerging Markets

May 6, 2020

(JET: TSX-V)

MIAMI, Fl, May 6, 2020 -- Global Crossing Airlines, Inc. (“GlobalX”) and Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) are pleased to announce that GlobalX has signed an agreement ("Agreement") with GEM Global Yield LLC SCS ("GEM"), the private alternative investment group to provide the GlobalX with up to CAD 100 million over a 36 month term following the previously announced business combination of GlobalX and Jetlines (the “Transaction”). Upon completion of the Transaction, Jetlines will have acquired GlobalX and the resulting issuer will be named Global Crossing Airlines Inc. (the “Resulting Issuer”). GlobalX will use the funds to strengthen its business by providing the financial resources to work to complete FAA and DOT certification requirements, develop its business segments and markets, and acquire new and used Airbus A320/321 aircraft to grow the company.

The initial CAD 100 Million will be in the form of a capital commitment that allows the Resulting Issuer to draw down funds during the 36-month term by issuing shares of the Resulting Issuer’s common shares to GEM (or such persons as it may direct) and subject to share lending arrangement(s) being in place.

The Resulting Issuer will control the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation. Concurrent with the closing of the Transaction, the Resulting Issuer will issue warrants to GEM to purchase up to six per cent (6%) of the outstanding common shares of the Resulting Issuer on a fully diluted basis.

Joseph DaGrosa, Chairman and lead investor of GlobalX, stated: “We are excited to be working with GEM as we grow GlobalX. They have been extremely supportive, understand our business, believe in our vision and remain committed during this challenging economic climate. The timing for GlobalX is excellent, as we are now seeing the availability of aircraft on very favorable lease terms as well as highly experienced pilots, and also significantly increased charter opportunities beginning later in 2020 as many airlines downsize and focus on their own core scheduled markets.”

About GEM

Global Emerging Markets (“GEM”) is a US$3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world and have completed 370+ transactions in 70 countries. GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Its family of funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. GEM’s funds include the CITIC-GEM Fund (matured in December 2015), Kinderhook Industries (GP and LP non-voting stakes), GEM Global Yield LLC SCS, GEM India and VC Bank/GEM Mena Fund (GEM exited both its GP and LP stakes in these funds in 2015 and 2010, respectively).

About Global Crossing Airlines

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.

For more information please visit https://www.globalairlinesgroup.com/

Miami based AVi8 Air Capital, LLC advised and structured the transaction on behalf of GlobalX.

Additional Information

The Resulting Issuer will control the timing and maximum amount of any draw down of the Facility (“Draw Down”), and has the right, not the obligation, to draw down on the Commitment Amount. The maximum amount of a Draw Down will be the lesser of (i) 1,000% of the average daily trading volume during the 15 trading days immediately preceding the date of a Draw Down; or (ii) the remaining portion of the Commitment Amount. The common shares issued under the Agreement will be subject to statutory resale restrictions, but GEM will receive freely transferable and unrestricted common shares through a share lending facility which will be provided by the Resulting Issuer’s shareholders.

As a condition of the Agreement, GEM will be issued a total of up to 2,038,362 warrants (subject to adjustment such that the number is equal to 6% of the outstanding common shares of the Resulting Issuer) entitling GEM to purchase common shares of the Resulting Issuer for a period of 3 years from the date issuance at an exercise price equal to equal to the greatest of (i) the closing price per common share on the first day of trading of the Resulting Issuer’s common shares, (ii) the pro-rata portion of the per share price of the common shares of the Resulting Issuer at a CAD 8 million valuation and (iii) the lowest price accepted by the Exchange. GlobalX has also agreed to pay in connection with the Agreement up to 2% of the Commitment Amount in fee to GEM.

The subscription price for the Common Shares issued under the Agreement will be equal to 90% of the average closing price of the 15 trading days immediately preceding the date of a Draw Down, which subscription price may not be lower than the floor price determined by the Resulting Issuer for such Draw Down and the Discounted Market Price (as such term is defined in the Corporate Finance Manual of the TSX Venture Exchange (“Exchange”)).

The Facility and the issuance of the warrants are subject to the approval of the TSX Venture Exchange.

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:

Global Crossing Airlines, Inc.
Ryan Goepel, Chief Financial Officer
Email: Ryan.goepel@globalairlinesgroup.com

Media Contact: mark.tender@globalairlinesgroup.comm

Canada Jetlines Ltd.
Carlo Valente, Chief Financial Officer
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.com

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 (i) the terms of the Facility and its drawdown by the Resulting Issuer; and (ii) receipt of TSXV, regulatory and shareholder approvals of the Transaction and Facility.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of the Jetlines’ and GlobalX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where the Jetlines and GlobalX will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ or GlobalX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ or GlobalX’s 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; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. There is no assurance that the closing of the Transaction will occur. 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 thepolicies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Jetlines and Global Crossing Airlines Execute Definitive Agreement

February 6, 2020

(JET: TSX-V; JETMF: OTCQB)

VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce that further to the news release by the Company on December 13, 2019, the Company has now entered into a definitive agreement (the “Definitive Agreement”) with Global Crossing Airlines, Inc. (“GLOBALX”) with respect to a business combination of Jetlines and GLOBALX (the “Transaction”). The parties are now preparing the disclosure documents required by the TSX Venture Exchange (“Exchange”) and the Company will call a shareholders meeting to approve certain elements of the Transaction once required approvals have been received.

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:
Carlo Valente, Chief Financial Officer
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.com

For more information on Jetlines, please visit www.jetlines.com.

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 (i) the calling of a shareholders meeting; and (ii) receipt of TSXV, regulatory and shareholder approvals of the Transaction.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of the Jetlines’ and GLOBALX’s business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and GLOBALX and the success of such operations; the legislative and regulatory environments of the jurisdictions where the Jetlines and GLOBALX will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ or GLOBALX’s 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ or GLOBALX’s 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; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. There is no assurance that the closing of the Transaction will occur. 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.

Other News Items

Form 8937