Canada Jetlines has entered a non-brokered private placement with its new Chair, Brigitte Goersch, to raise an offering of $150,000. The Offering consists of units issued at $0.255 per unit. Each Unit consists of one variable voting share and one-half of one warrant. Each Warrant entitles the holder thereof to purchase an additional Share for a period of 24 months after closing at a price of $0.40 per Warrant Share.
Canada Jetliners will also enter a loan agreement for $1,000,000 from the Roosheila Group at an interest of 7% per annum and a maturity date of 48 months from closing. The principal and interest amounts are to be paid in EMIs for 18 months. The Roosheila Group will be issued 25,000 common shares, 12 months from the closing date and an additional 25,000 common shares 24 months from the closing date along with the Board nomination right.
The principal acquired from the offering and the loan will be used for aircraft acquisition, general corporate, and working capital purposes.