Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the "Company" or "GlobalX") announces that it intends to undertake a non-brokered private placement to raise up to a maximum of US$5.0 million (the "Offering"). The Offering consists of units issued at US$0.62 (approx. Cdn$0.80) per unit (each a "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 is non-brokered, but the Company may pay finder's fees on certain subscription in an amount equal to 7% cash and 7% finder's warrants exercisable for Shares. The Offering is subject to the approval of the TSX Venture Exchange.