Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce a US$6.0 million offering of non-convertible debentures (the “Offering”). The lead investor in the Offering is Alterna Capital Partners LLC (“Alterna”), through an affiliate of Alterna Core Capital Assets Fund II, L.P., with a US$2.5 million commitment. Alterna is a real asset investor with a specific focus on transportation assets. The investment represents Alterna’s commitment to support GlobalX with its growth strategy and is made in conjunction with various leasing partnerships. Alterna was founded in 2007 and currently manages over US$600 million across two private equity funds, one credit fund and co-investments.
The Offering will consist of non-convertible debentures (each, a “Debenture”) and one warrant (each, a “Warrant”) for every US$1.24 of principal of the Debentures for gross proceeds of up to US$6,000,000. Each Warrant is exercisable into one share of common stock (each, a “Warrant Share”) at an exercise price of US$1.24 per Warrant Share for a period of 24 months from the date of closing.