Canada Jetlines Announces 2024 Annual General Meeting Voting Results

TORONTO, ON / ACCESSWIRE / June 28, 2024 / Canada Jetlines Operations Ltd. (Cboe CA:CJET) ("Canada Jetlines" or the "Company"), a leisure carrier which also offers charter and Aircraft Crew Maintenance Insurance (ACMI) services, announced today the results of the 2024 Annual General Meeting of shareholders. Detailed results of the vote for the election of directors held at the Annual General and Special Meeting on June 27, 2024 in Mississauga, Ontario, are set out below:

As a result, Brigitte Goersch, Ryan Goepel, Beth Horowitz, Shawn Klerer, Regenold Christian, Gurdev Singh and Gurinderpal Singh were elected as directors of the Company. Reid Rossi and Paul-Jozef Wilk were not elected as directors of the Company. Additionally, David Kruschell and Ravinder Minhas did not stand for re-election. The Chair of the Board, Brigitte Goersch, sincerely thanks them for their many valuable contributions. Consequently, the board will now stand at seven members instead of nine.

Shareholders at the Annual General Meeting also voted in favour of appointing MNP LLP as auditors.

"We extend our appreciation to shareholders for their continued participation and support," said President and CEO Eddy Doyle. "It has been a privilege to serve as CEO of Canada Jetlines during this transformative phase."

About Canada Jetlines

Canada Jetlines Operations Ltd. (Cboe CA: CJET), trading as "Canada Jetlines," is a Canadian leisure airline, which also offers charter and ACMI services, committed to providing an exciting travel experience to its passengers. With a growing network of destinations, Canada Jetlines is dedicated to connecting Canadians with some of the world's most captivating and sought-after locations.

Media Contact:
Erica Dymond
[email protected]
416-587-6183

Investor Contact:
Susan Xu
778-323-0959
[email protected]

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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 the Company's intention to operate as a leisure airline, the number of aircraft it intends to operate, the destinations of intended flights, its growth and the frequency of flights.

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 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 continue airline operations, the accuracy, reliability and success of Jetlines' business model; the continued compliance with the terms of governmental approvals; Jetlines concluding definitive agreements for additional aircraft; the success of operations by Jetlines the legislative and regulatory environments of the jurisdictions where Jetlines will carry on business or have operations; the impact of competition and the competitive response to 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, 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 definitive agreements to acquire additional aircraft, supply chain disruptions causing delays in expected timelines, 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' operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of (or compliance with) the necessary licenses from regulatory agencies, 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.

SOURCE: Canada Jetlines Ltd