TORONTO, ONTARIO, July 16, 2021 – Canada Jetlines Operations Ltd. (the “Company” or “Jetlines”) announces that it intends to undertake a non-brokered private placement to raise up to $5.0 million (the “Offering”). The Offering consists of units issued at $0.40 per unit (each a “Unit”). Each Unit consists of one common share (each a “Share”) and one half of one warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder thereof to purchase an additional Share for $0.70 for a period of 24 months after closing.

The Company may pay finder’s fees in connection with certain subscriptions. The Company intends to use the net proceeds of the Offering to advance the Canadian airline licensing process and for general corporate and working capital purposes.

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 United 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.

About Canada Jetlines

Canada Jetlines is a Canadian Low Cost Carrier that intends to begin operations, pending CTA approval, as a Tour Operator with flights into popular sun destinations in the USA and Mexico. Canada Jetlines intends to operate a very efficient fleet of Airbus A320 aircraft providing safe, reliable, friendly, and consistent service to Canadians.

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For more information, please contact:

Eddy Doyle
Chief Executive Officer
Canada Jetlines Operations Ltd.