Canada Jetlines (JETMF), the new Canadian low-cost leisure airline, has closed its non-brokered private placement to raise a total of $3.35 million.
On April 26, 2022, the start-up airline announced that it had closed the private financing event and had sold more than 9.5 million units. Each unit consists of one common or variable voting share at a price of $0.35 per unit as well as one half of a warrant.
The warrant holders received the right to purchase additional shares at $0.50 per share for a period of 48 months following the offering closure and an advantage to obtain the additional amount of shares at $0.65 per unit in the third and fourth years after acquisition.
“The lead investors in the offering were Roosheila Group and institutional investor Broadway Capital Management,” Canada Jetlines (JETMF) said in a statement.
“As a result of the offering, Roosheila Group will own and control 7,142,857 shares of the company, representing approximately 11.90%…