MIAMI, Feb. 3, 2022 (GLOBE NEWSWIRE) — Global Crossing Airlines Group, Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Company” or “GlobalX”) today announces that its resale registration statement on Form S-1 (the “Registration Statement”) filed under the US Securities Act of 1933, as amended (the “Securities Act”), was declared effective by the Securities and Exchange Commission (“SEC”) on February 3, 2022. GlobalX has filed the registration statement notifying the resale of common stock and common stock B without voting rights, including shares that may be issued upon the exercise of warrants, registered by the selling shareholders named in the registration statement, which securities acquired in previous private placements. GlobalX has become a reporting issuer under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and will file reports under the Exchange Act with the SEC, which will be available at www.sec.gov.
Ed Wegel, Chairman and CEO of GlobalX, commented: “We believe that becoming a fully reporting company subject to the SEC’s reporting requirements demonstrates our commitment to providing current public information not only to our shareholders, but also to the public in general. ”
Copies of the prospectus contained in the Registration Statement may be obtained from GlobalX upon request by email at or by visiting www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will any offer or sale of securities be made in any state or jurisdiction where the offer, solicitation or sale of securities would be unlawful . The securities offered have not been approved or disapproved of by the SEC or any Canadian securities commission, nor has any such regulatory body communicated the accuracy or adequacy of the Registration Statement.
About Global Crossing Airlines
GlobalX is a US 121 domestic flag and ancillary airline that flies the Airbus A320 family aircraft. GlobalX flies ACMI as a passenger and charter airline serving the US, Caribbean and Latin American markets. In 2022, GlobalX will enter ACMI freight service with the A321 freighter, subject to DOT and FAA approvals. For more information, visit www.globalxair.com.
For more information, please contact:
Ryan Goepel, Chief Financial Officer
Warning Regarding Forward-Looking Information
Certain information in this press release is “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and US securities laws (“forward-looking information”) with respect to anticipated developments and events that may occur in the future. Forward-looking information in this press release includes, but is not limited to, statements regarding the Company’s intention to operate as an ACMI and wet lease charter airline, the anticipated size of the Company’s aircraft fleet and delivery dates, details of future charter operations, and the destinations the Company intends to serve.
In certain instances, forward-looking information may be identified by words such as “plan”, “expect”, “budget”, “planned”, “estimate”, “forecast”, “plan”, “anticipate” or “or variations of such words and expressions or statements that “may”, “could”, “should”, “should” or “will be taken”, “avoid” or “achieved” certain actions, events or results that suggest future results , or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance Forward-looking information in this press release is based on certain factors and assumptions regarding, among other things, the receipt of financing to continue to operate the airline operations, the accuracy, reliability and success of GlobalX’s business model; the timely receipt of government approvals; the success of and GlobalX’s aviation activities; the legislative and regulatory environments of the jurisdictions where GlobalX will conduct business or operate; the impact of competition and the competitive response on GlobalX’s business strategy; and aircraft availability. While the company deems these assumptions reasonable based on the information currently available, they may prove incorrect.
Forward-looking information includes known and unknown risks, uncertainties and other factors that could cause the company’s actual results, performance or performance to differ materially from future results, performance or performance expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing on acceptable terms, the impact of general economic conditions, domestic and international conditions in the airline industry, the impact of the global uncertainty created by COVID-19, future shareholder relations, fuel price volatility, increases in operating costs, terrorism, pandemics, natural disasters, currency movements, interest rates, risks inherent in the aviation industry, management’s ability to implement GlobalX’s operational strategy, ability to employ qualified management and personnel draw, labor disputes, regulatory risks, including risks related to obtaining necessary licenses and permits; and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings made available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. While the company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that could cause results not to be as expected, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the company assumes no obligation to publicly update forward-looking information. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or assumes any responsibility for the suitability or accuracy of this release.
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