MIAMI, FL., January 27, 2021 – Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the "Company" or "GlobalX") is pleased to announce that it has closed its previously announced non-brokered private placement ("Offering"). Due to significant investor demand, the Company raised the full US$5.0 million in gross proceeds through the issuance of 8,064,517 units (each a "Unit") at a price of US$0.62 (approx. Cdn$0.80) per Unit. Each Unit consists of one share of common stock (each a "Share") and one warrant (each a "Warrant"). Each Warrant entitles the holder thereof to purchase an additional Share for US$1.00 (approx. Cdn$1.27) for a period of 27 months after closing.

The Company intends to use the net proceeds of the Offering to substantially complete the FAA certification process, substantially meet the US DOT economic fitness test, make aircraft deposit or lease payments, and for general corporate and working capital.

The Offering WAS non-brokered, but the Company paid US$217,000.13 in finder's fees and issued 350,000 finder's warrants (each a "Finder's Warrant"). Each Finder's Warrant entitles the holder thereof to purchase a Share for US$0.62 (approx. Cdn$0.80) for a period of 27 months after closing. In addition to applicable restrictions under United States securities laws, the securities issued in the Offering are subject to a Canadian statutory four-month hold period that expires on May 27, 2021.