Mr. Percy Gyara reports

CANADA JETLINES PROVIDES AIRCRAFT UPDATE

Canada Jetlines Operations Ltd. has provided an update on the previously announced letter of intent for its third Airbus A320 aircraft. Canada Jetlines has determined that certain conditions were not or will not be satisfied and has elected to terminate the letter of intent. Canada Jetlines has instead entered into a letter of intent for a newer Airbus A320 aircraft that was previously operated by a leading North American air carrier.

The third aircraft for Canada Jetlines will be an Airbus A320-200 equipped with two CFM56-5B4/3 engines. The airline will install the Flymingo Box system, which offers an enhanced passenger experience through its wireless in-flight entertainment. It is expected to be delivered in July, 2023.

The delivery of the aircraft remains subject to customary conditions, including the execution of a definitive aircraft lease agreement and satisfactory inspection of the aircraft by the company.

We seek Safe Harbor.