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S-1 Resale Registration filed
Global Crossing Airlines Announces Public Filing of S-1 Resale Registration Statement
8:00 AM ET 11/23/21 | GlobeNewswire
Global Crossing Airlines Announces Public Filing of S-1 Resale Registration Statement
MIAMI, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the "Company" or "GlobalX") announces that it has filed a resale registration statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") to register the resale of shares of Common Stock and shares of Class B Non-Voting Common Stock issued and issuable upon the exercise of warrants (the "Securities"), issued in the Company's private placement transactions, which closed in June, 2020, January 2021 and April 2021. The Registration Statement, once effective, will subject the Company to SEC reporting requirements under the Securities Exchange Act of 1934, which the Company believes will provide it with better access to the U.S. capital markets.
The Registration Statement relating to these Securities has been filed with the SEC, but has not yet been declared effective. These Securities may not be sold nor may offers to buy be accepted until the Registration Statement becomes effective. The Registration Statement is subject to amendment and completion. Copies of the Registration Statement (and the preliminary prospectus contained therein) may be obtained from the Company by request at Global Crossing Airlines Group Inc., Bldg. 5A, Miami Int'l Airport, 4th floor, 4200 NW 36th Street, Miami, FL 33146 or by visiting the SEC's website at https://www.sec.gov/Archives/edgar/data/1846084/000119312521337083/0001193125-21-337083-index.htm.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of any securities, in any state or jurisdiction in which the offer, solicitation, or sale of securities would be unlawful. The securities being offered have not been approved or disapproved by the SEC or any Canadian securities commission, nor has any such regulatory authority passed upon the accuracy or adequacy of the Registration Statement.
About Global Crossing Airlines
GlobalX is a US 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. GlobalX flies as an ACMI and charter airline serving the US, Caribbean, and Latin American markets. For more information, please visit www.globalxair.com.
For more information, please contact:
Mark Salvador, Chief Marketing Officer
Email: mark.salvador@globalxair.com
Tel: 786.751.8510
Or
Ryan Goepel, Chief Financial Officer
Email: ryan.goepel@globalxair.com
Tel: 786.751.8503
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the effectiveness of the Registration Statement, the Company's intention to fly as an ACMI and wet lease charter airline, the Company's aircraft fleet size, and the destinations that the Company intends to service.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to continue airline operations, the accuracy, reliability and success of GlobalX's business model; the timely receipt of governmental approvals, including approval of the SEC for the Registration Statement; the success of airline operations of GlobalX; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the Company has or will have sufficient aircraft to provide the service; the impact of competition and the competitive response to GlobalX's business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, risks related to supply chain disruptions, failure to retain or obtain sufficient aircraft, domestic and international airline industry conditions, passenger demand being less than anticipated, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; the failure to receive SEC approval for the Registration Statement; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
> Dow Jones Newswires
November 23, 2021 08:00 ET (13:00 GMT)
Filings are posted. 3.1 million in revenues for third quarter.
What's it going to take to move JETMF again? I think filings are due now, but I don't see anything filed on OTCmarkets....not even a late filing notice. Hopefully soon and we see nice revenues reported. Got to be some decent revenues. Their planes are up and flying from what I've seen online flight tracking sites. And they helped in Afghanistan as well as moving migrants from the southern border.
Update on the BCSC allegations...hearing scheduled for next July.
https://www.bcsc.bc.ca/hearings/details/S7S7S6S4S7S1S7S6
here is the original notice of hearing
https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Decision-and-Orders/Notices-of-Hearing-and-Temporary-Orders/2021/2021-BCSECCOM-397.pdf
Nice news again today...I wonder if the investors will keep selling shares here or let it run back over $2/share?
| $JET.V | $JET.B | $JETMF | $CJET.NE | Global Crossing Airlines and Canada Jetlines Partner on Scheduled Charter Service Between Toronto and Florida
https://howardgroupinc.com/2021/11/global-crossing-airlines-and-canada-jetlines-partner-on-scheduled-charter-service-between-toronto-and-florida/
Are you aware our CEO and his team created a SPAC? IPO closed this week.
https://finance.yahoo.com/quote/TOACU?p=TOACU&.tsrc=fin-srch
Their planes are flying...according to flightaware website. Just look up the numbers below in their search bar. Got to be revenues coming in now. I wonder if they will meet their estimates. Looks like a few investors are selling shares. Might be good time to pick up some cheaper shares before it heads back over $2/share???? Filings are due next week I believe.
https://flightaware.com/live/flight/N276GX
N276GX
N277GX
N279GX
N278GX-no flights for this plane
| $JET.V | $JET.B | $JETMF | Global Crossing Airlines Inducts First A321 for Cargo Conversion and Outlines Near Term Fleet and Growth Plans
https://howardgroupinc.com/2021/11/global-crossing-airlines-inducts-first-a321-for-cargo-conversion-and-outlines-near-term-fleet-and-growth-plans/
#globalcrossing #globalx #airplanes #airline #aviation #flight #travel #growthplans #A321
HG Interview with David Ross, Director at Global Crossing Airlines
Mr. Jeff Howard, I presume. Any public comment from the company regarding this news? Fortunately this is not current management's fault but the company still has to be present for the hearing.
https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Decision-and-Orders/Notices-of-Hearing-and-Temporary-Orders/2021/2021-BCSECCOM-397.pdf
https://www.bcsc.bc.ca/about/media-room/news-releases/2021/70-bcsc-alleges-failure-to-disclose-material-information-and-insider-trading-connected-to-canada-jetlines-ltd
News Release
BCSC alleges failure to disclose material information and insider trading connected to Canada Jetlines Ltd.
Date:
2021-10-08
Number:
2021/70
Vancouver – The British Columbia Securities Commission (BCSC) alleges that an ultra-low-cost airline failed to disclose material information and that its director committed insider trading.
Mark Morabito of North Vancouver was the director and chairman of Canada Jetlines Ltd., which at the time of the alleged misconduct was a reporting issuer in British Columbia with shares trading on the TSX Venture Exchange. It is now known as Global Crossing Airlines Inc.
In September 2017, Canada Jetlines issued a news release announcing that it had entered into a letter of intent (LOI) to lease two aircraft, with delivery in April 2018. The airline also publicized that it would start flight operations in June 2018. However, the LOI was terminated in December 2017 after Canada Jetlines tried unsuccessfully to extend the payment terms.
This termination of the LOI, and the fact that it led to a delay to the start of flight operations, were material changes and material facts. However, this information was not made public until three months later, when Canada Jetlines issued a news release after the market closed on March 13, 2018.
Following the news release, Canada Jetlines’ share price decreased 38 per cent over two days, and its daily trading volume increased 126 per cent in one day.
In addition, a month before the news release, Morabito transferred 352,945 shares in the company to his spouse, with the knowledge that his spouse would sell the shares.
The BCSC alleges that Canada Jetlines and Morabito, in delaying the announcement of the terminated LOI and its impact on the start of flight operations, failed to disclose material information as required by B.C.’s Securities Act and National Instrument 51-102 Continuous Disclosure Obligations. The BCSC also alleges that Morabito’s transfer of shares to his spouse contravened securities laws regarding insider trading.
The BCSC’s allegations have not been proven. The commission will schedule a hearing date in November 2021.
This thing doesn't have much action to begin with so if someone feels like selling, it tends to walk down bit by bit. I have not kept an eye on specific selling blocks day to day but that is generally what I have seen. Average daily volume is very low.
There is a lot of action from the business with commitments to lease more planes and as of today, the listing of the Canada Jetlines shares on the neo stock exchange. I am waiting this out to see what this aggressive action yields. Still quiet on the message boards so very little attention is on the stock. If more eyes land on this, it could see a nice bump up.
Global Crossing Airlines Granted Flight Allocations for Cuba Flights to be Flown in Partnership with HavanaAir
https://howardgroupinc.com/global-crossing-airlines/
#globalcrossing #globalx #flight #flights #travel #havanaair #Cuba #destination #a320
Global Crossing Airlines Announces Lease of One A321 Freighter Aircraft
https://howardgroupinc.com/2021/10/global-crossing-airlines-announces-lease-of-one-a321-freighter-aircraft/
Any thoughts on the stock price movement? Recent sell off. Think someone who bought those initial fundraising shares sold? There was not much volume to take it back to $1.70. Any thoughts?
| $JET.V | $JET.B | $JETMF | Global Crossing Airlines Announces Agreement for A321 Freighters with Greenwich Highland Aviation
https://howardgroupinc.com/2021/10/global-crossing-airlines-announces-agreement-for-a321-freighters-with-greenwich-highland-aviation/
| $JET.V | $JET.B | $JETMF | October 2021 Investor Deck
https://www.slideshare.net/the-howard-group/global-crossing-october-2021-company-presentation
Global Crossing Airlines Announces LOIs for Three A320 aircraft
https://howardgroupinc.com/2021/10/global-crossing-airlines-announces-lois-for-three-a320-aircraft/
Looks like Global cx airlines is assisting the US govt with moving many of the Haitians who were under the bridge in Texas back to Haiti. The flights for their A320 show flights from Laredo to Port a prince...back and forth for the past week.
This has to be awesome revenue considering the government always overpays for everything...LOL. Nice work JETMF!
https://flightaware.com/live/flight/N276GX
Global Crossing Corporate & Investor Highlights
https://www.slideshare.net/the-howard-group/global-crossing-corporate-investor-highlights
Global Crossing Airlines Partners with Honor Flight South Florida
https://howardgroupinc.com/2021/09/global-crossing-airlines-partners-with-honor-flight-south-florida/
$JET.V $JETMF
Global Crossing Airlines to Participate in Cowen’s 14th Annual Global Transportation and Sustainable Mobility Conference
https://howardgroupinc.com/2021/09/global-crossing-airlines-to-participate-in-cowens-14th-annual-global-transportation-and-sustainable-mobility-conference/
I see yesterday's PR...NASDAQ imminent. LOL. Well maybe I was wrong, but we shall see. I don't see how they will meet requirements to maintain NASDAQ so quickly with just 2 planes. Not near enough revenue IMO. I like the optimism :)
$JET.V $JETMF Revenues Ramp as Global Crossing Airlines Takes Flight – NASDAQ Application Imminent
https://howardgroupinc.com/2021/09/revenues-ramp-as-global-crossing-airlines-takes-flight-nasdaq-application-imminent/
I don't think JETMF is even close to meeting the requirements for NASDAQ at this time. They certainly don't meet the market cap minimum or have the assets let alone have the needed earnings or cash flow with market cap. NASDAQ is realistically a couple years away here IMO. It will take time for them to acquire more planes and increase revs.
I like that they were able to use their second plane in Afganistan even though it's not on their certificate yet. Might help them get gov't contracts in the coming months.
So far, working with one plane they will not be bringing in massive revs. A good start and congrats to all. I think it will continue to be a slow start. Maybe this time next year we will have the cargo planes they keep talking about. All of this will take cash flow...so expect more fund raising...just hope it doesn't dilute the crap out of the stock.
Besides the financials and new contracts, the next biggest thing to help this stock will be up listing to the nasdaq, which they said would take 8-12 weeks from the date they apply. I do not think they gave a date for when they would apply but I also may have missed that detail.
Nothing too exciting. They keep making progress on a few fronts. I believe they said they expect the Canada Jetlines listing on the Tsx to be completed in October. They provided updated numbers on the revenue so far and expected revenue for the upcoming quarters. They keep looking to add planes and expect to have a one based out of Las Vegas soon.
This account has a pretty good summary.
$jet.v GlobalX's revenue for August 2021: $1.4m
— Jetlines News (@jetlinestracker) September 1, 2021
New GlobalX customers: pic.twitter.com/VQqWmHlScc
I missed the zoom update. Anything new and exciting?
Very good to see! Thanks Global X!
Nice coverage of their work in Afghanistan.
Thank you to @aeroTELEGRAPHen for covering GlobalX’s Kabul evacuation missions on behalf of the US Government. As the only non-military aircraft performing these missions, we are honored to provide help to those who most desperately needed it. https://t.co/FE4eZS4qWb
— Global Crossing Airlines (@globalxairlines) August 25, 2021
See the flights since August 7th. Got to be some revs coming in now. Looking forward to seeing the other plane flying daily.
https://flightaware.com/live/flight/N276GX
They have been hard at work securing contracts to fly these airplanes and we are starting to see some of the clients revealed. It will be interesting to see the revenue numbers once they share their earnings.
Welcoming @PSG_Feminines and @FCBayernUS to SDF for @thewomenscup! pic.twitter.com/hIo39oUdzK
— FlyLouisville (SDF) (@FlyLouisville) August 15, 2021
Congrats guys, JETMF now producing some revs!
Now that they are up and running, it will be interesting to see how fast they are able to truly get more planes off the ground. I see some good potential here, glad my old Canada Jetlines shares are showing a profit, not to mention the new shares of Canada jetlines given to us.
Found this article about their fall plans to fly the Temple and Monmouth football teams to and from games.
https://pressofatlanticcity.com/news/local/new-charter-airline-globalx-to-start-flying-college-football-teams-out-of-acy/article_4f1340d8-f3b2-11eb-87d5-b3aeb484cbeb.html
Supposedly today is the day they get their FAA paperwork. Just waiting on the official press release. They have the Webinar tomorrow with updates about revenue operations so we should know then when the first flight takes off. Exciting. Times.
#GlobalX is pleased to announce it will be presented its Air Operating Certificate by the FAA next Tuesday August 3. GlobalX will be a US 121 flag carrier and authorized to conduct both scheduled and supplemental charter operations subject to final DOT approvals. pic.twitter.com/0O9Zr16KTa
— Global Crossing Airlines (@globalxairlines) July 30, 2021
I got an email from global cx with a news release only for folks in Canada. They are doing a 5 mil private placement capital raise. This is all part of the plan to get the new shares trading. Came faster than I anticipated. Guess I watch from the sidelines as Americans are not able to buy any of those.
Thinking we get a PR in next 2 weeks that says we got our FAA certificate. Then first revs start coming in. Idk...wait and see. Hoping for a miracle here...maybe uplist in 2022?
Also they will need to do a capital raise in order for that process to be completed
Same here. Ed wegel or someone on the conference call stated they need the shares to get listed on the tsx for it to show up as actual shares.
I see the new shares in my account. Just a cusip number for now
Does anyone know if the dividend stocks from the spinoff automatically go into my Brokerage account? Also, what is the stock symbol?
It's a little early to talk Nasdaq here IMO...2 planes..not enough assets. But overall, it's a start....looking forward to the 17 mil in revs they have lined up for this year. Lots of quoted revs yet to be finalized. It appears as though they will actually fly. Congrats to shareholders!
I am listening to the call as well. Good update. Looking forward to revenues and see if they can actually make a profit. Holding my original Jetlines shares plus some I bought since the split. Good luck to all of us
Proving runs are done tomorrow and revenue flights start in mid july. They have passed everything thus far and at this point it is just a matter of time until they get the official paperwork. Great update so far.
Must be very close to FAA certification. JETMF looks bullish! I guess we find out at 2pm today.
Jetlines shares should be in accounts by the end of the week. 1 share of Jetlines for every 2 shares of global x. Update on the approval for global x is coming at 2 pm eastern.
Webcast update next week about the proving runs. According to their last update they would have lasted two weeks so they should be done and awaiting the paperwork. They had a tweet yesterday about a proving run flight out of punta cana. I have been averaging down since it looks like the announcement is imminent now.
After hours news. Spin out of jetlines is all but certain now. We should have shares by July 2nd :)
Someone running the price up on JETMF this month.
Frequent updates flowing in from JETMF. I like where this is heading. Looking forward to that first flight. Maybe my investment in Jetlines from awhile back will actually turn a profit...LOL.
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