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Canada Jetlines has revealed that it has reached an agreement with its new Chair, Brigitte Goersch, for $150,000 in new financing, representing variable voting shares and the ability to purchase additional shares for 24 months.
The new leisure airline has also announced that it intends to enter into an agreement for a $1,000,000 loan from Roosheila Group Inc., a holding company for Reg Christian, a director of the Company and travel industry veteran. The terms of the loan include 7 per cent interest, 25,000 common shares 12 months from the closing date and an additional 25,000 common shares 24 months from the closing date, and a Board nomination right for the term of the Loan.
The Company intends to use the net proceeds of the new financing for aircraft acquisition, general corporate and working capital purposes.
Visit Jetlines.com for more information about the airline.
