3 July 2014
David H. Brett, CEO, Inovent Capital Inc. (TSX Venture: IVQ.P) said the company has entered into a letter of intent with Canada Jetlines Ltd. in which the parties agree to negotiate the terms of a business combination transaction.
Inovent is a capital pool company in accordance with the policies of the TSX Venture Exchange. Jetlines is a start-up airline aiming to become Canada´s first ultra-low cost carrier. The proposed transaction will constitute Inovent´s qualifying transaction in accordance with the policies of the TSX Venture. Jetlines and Inovent are at arm´s length and the proposed transaction does not constitute a non-arm´s length qualifying transaction.
Canada Jetlines Ltd. is headquartered at YVR and will be the only scheduled jet airline operator based in Vancouver.
Inovent Capital Inc. is a CPC that completed an IPO December 18th, 2013 with the goal of identifying a QT in technology, life sciences or special situations. For further information visit www.inoventcapital.com