On March 1, 2017, Canada Jetlines Ltd. (TSXV: JET) (the “Company”, formerly known as Jet Metal Corp.), a start-up airline aiming to become Canada’s first ultra-low cost carrier, announced that its previously announced business combination transaction with Jet Metal Corp. had closed.
Pursuant to the transaction, the Company consolidated its outstanding common shares on a 1.5:1 basis, continued as a Federal corporation pursuant to the Canada Business Corporations Act, changed its name to “Canada Jetlines Ltd.” and Canada Jetlines Operations Ltd. (formerly Canada Jetlines Ltd.) became a wholly-owned subsidiary of the Company. The common and variable voting shares of the Company commenced trading on the Exchange as a Tier 2 industrial issuer on March 7, 2017.
Kevin Sorochan and Peter McArthur of Miller Thomson advised the Company in this transaction.
