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.