Global Crossing Airlines Announces Closing of Issuance of Additional Notes

MIAMI, Dec. 22, 2023 (GLOBE NEWSWIRE) — Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce the closing of the placement of an additional US$5 million of Senior Secured Notes due 2029 (the “Financing”) with a fund managed by Axar Capital Management LP and its affiliates (the “Investor”), a value-oriented alternative investment firm with over US$2.3 billion in assets under management. These notes are the same series as the US$35 million of Senior Secured Notes due 2029 (the “August 2023 Notes”) that were issued on August 2, 2023.

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