Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) is providing an update on its financing progress. The Company has made significant advancements towards launching commercial airline operations which have been detailed in prior news releases. Commercial agreements have been concluded with airports, suppliers, service providers and other key stakeholders. Jetlines has also made progress in the licensing process through the submission of operations manuals and licensing documents to Transport Canada and the Canadian Transportation Agency. However, the completion of the financing required to launch airline operations remains critical to Jetlines continued advancement and launch.

With regards to financing efforts, Jetlines is currently discussing the opportunity with a number of institutions whose investments would be sufficient to launch operations. At this time, Jetlines’ partners at SmartLynx Airlines SIA and InHarv ULCC Growth Fund (“InHarv”) remain committed to seeing Jetlines through the financing process. Jetlines intent is to convert investor interest into financing commitments, but it cannot provide any assurances that this will occur. Jetlines will provide further updates to the market with respect to its financing efforts through future news releases.