Miami, Florida (October 28, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (the "Company" or "GlobalX") announces that it has filed a management information circular pursuant to which the Company proposes to change its jurisdiction of incorporation from the Province of British Columbia, Canada to the State of Delaware (the "U.S. Domestication") pursuant to a "continuance" effected in accordance with Section 308 of the Business Corporations Act (British Columbia) and a concurrent "domestication" effected in accordance with Section 388 of the General Corporation Law of the State of Delaware.
The U.S. Domestication is required for the Company to complete its charter licensing process and it will also better reflect the Company's U.S.-focused business and operations.
The Company has scheduled a Special Meeting of shareholders (the "Meeting") to approve the U.S. Domestication. The Meeting is scheduled for December 1, 2020 at 10:00 a.m. (PST). Additional details are set out in the notice of Meeting, management information circular and proxy statements provided in connection with the Meeting (the "Meeting Materials") which are available on SEDAR at www.sedar.com.
It is the intention of the Company to hold the Meeting at the location stated in this Notice of Meeting. However, due restrictions and recommendations regarding public meetings and social distancing measures as a result of COVID‐19, shareholders and other guests are strongly encouraged not to attend in person at the Meeting. Given concerns regarding COVID‐19 and to mitigate risks to the health and safety of our communities, the Company encourages shareholders to vote in advance of the Meeting and reminds them that proxy voting instructions are included in the Meeting Materials. Anyone who wishes to attend the Meeting in person must follow the instructions set out in the Meeting Materials.
The Company has also issued a total of 560,000 restricted share units ("RSUs") to directors, officers, employees and consultants. 50% of the RSUs vest on the date that is two years from the date of grant and the remaining 50% vest on the date that is three years from the date of grant.