- Global Crossing Airlines Group ( OTCQB:JETMF ) has announced it has secured an up to $5M loan with a key long-term investor to provide working capital and additional liquidity to support GlobalX’s rapidly growing operations.
- The Loan is a six-month facility that will be funded in two tranches of $2.5M each.
- The Loan is unsecured, is not convertible, no warrants and will bear interest at the rate of 20% per annum, accruing monthly and payable upon maturity.
- The net proceeds of the Loan will be used to further the business objectives of the Company and to secure additional passenger and freighter Aircraft for charter operations that are expected to be delivered in Q1 2023.
For further details see:
Global Crossing Airlines announces $5M financing