Global Crossing Airlines closes US$6.0M secured debenture financing at 15% interest, issues warrants

Global Crossing Airlines Group Inc.

Gross proceeds of US$6.0M from non-convertible debentures maturing in 24 months, bearing 15% annual interest payable quarterly.
Each US$1.24 principal amount includes one warrant; total 4,838,707 warrants exercisable at US$1.24 per share for 24 months.
Net proceeds to fund three additional A320 passenger aircraft for charter by Q2 2022 and deposits for first four A321F cargo aircraft by Q4 2022.
Lead investor Alterna Capital Partners; related party transaction: director's affiliate purchased US$200,000 of debentures.
Finder's fees of US$41,175 paid; debentures secured by tangible fixed assets.

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