Oxbridge Announces Filing of SPAC Business Combination Agreement

GRAND CAYMAN, Cayman Islands, Feb. 28, 2023 (GLOBE NEWSWIRE) — Oxbridge Re (NASDAQ: OXBR)(the “Company”) today announced that Oxbridge Acquisition Corp. (NASDAQ: OXAC), a Cayman Islands special purpose acquisition company, issued a press release and filed a Current Report on Form 8-K with the Securities and Exchange Commission (“SEC”) in connection with a Oxbridge Acquisition business combination with Jet Token Inc. (“Jet”), a Delaware based company. Upon the closing of the transaction, the combined company will be named Jet.AI Inc. Jet offers fractional aircraft ownership, jet card, aircraft brokerage and charter service through its fleet of private aircraft and those of Jet’s Argus Platinum operating partner. Jet’s charter app enables travelers to look, book and fly. The funding and capital markets access from this transaction is expected to enable Jet to continue its growth strategy of AI software development and fleet expansion. The business combination is expected to be completed late in the second quarter of 2023.

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