Miami, Florida-- (Newsfile Corp.- June 30, 2021 - Global Crossing Airlines Group Inc. [TSXV: Jet] (OTCQB : JETMF] (the "Company") is pleased to update shareholders on the "Share Capital Reorganization" previously announced on May 21, 2021 (and June 11, 2021). At a special meeting held June 23, 2021, the Share Capital Reorganization was approved by shareholders.To complete the Share Capital Reformation, shareholders of the Company will need to declare whether or not they are citizens of the United States. Beneficial shareholders will need to complete the declaration process through their broker or bank, as well as any other intermediary in the Canadian Depository for Securities in Canada. The declaration process will take place from July 5 through July 9, 2021. A shareholder who fails to complete a declaration will be considered not to be a citizen of the United States. The Company's shareholders will receive shares as follows after the completion of this declaration process:For every share of common stock (Old Common Stock) that a shareholder is currently holding, a United States citizen will receive one share ("New Common Share") of common stock. The New Common Share will be identical to the Old Common Stock except that it will have an updated ISIN (US37960G4010).Shareholders who do not reside in the United States will be entitled to one share of Class A Non-Voting Common stock ("Class B NonVoting Share") per Old Common Share. The Class B Nonvoting Share will be identical to the Old Common Share in all respects, except that it will have a new ISIN (US37960G3020) and be non-voting.Register shareholders do not need to declare. Based on their address at the Share Capital Reorganization's effective date, registered shareholders will be eligible for new common shares or class B non-voting shares.The Share Capital Reorganization's effective date will be July 12, 2021. The New Common Shares will continue to trade on OTCQB and the TSX Venture Exchange (Ticker : JETMF). The TSX Venture Exchange will also allow Class B Non-Voting shares to trade. A subsequent news release will provide additional details about trading.You can find additional details in the Notice of Meeting Information Circular, Proxy, and Voting Instruction forms (collectively the "Meeting Materials") on the Company's SEDAR profile, www.sedar.com.Global Crossing Airlines Group
