Canada Jetlines inks $14 mln financing deal with Korean fund
Canada Jetlines Ltd (JET: TSX-V), a Vancouver-based ultra-low-cost carrier airline, has entered into a letter of intent to receive financing of up to $14 million. The financing, consisting of convertible debentures, is being provided by a fund managed by InHarv Partners, a South Korean venture capital and private equity firm. Once closed, the deal entitles the fund to appoint two board members. Mark Morabito, executive chairman of Canada Jetlines, said the funds raised will support the launch of the company's airline operations in Canada.
28 March 2019•6 mins read
