Inovent Files Amended and Restated Preliminary Prospectus - Inovent and Jetlines Receive Shareholder Approval

VANCOUVER, Dec. 22, 2014 /CNW/ – Inovent Capital Inc. (TSX Venture – IVQ.P, “Inovent”) and Canada Jetlines Ltd. (“Jetlines”) announce the filing of an amended and restated preliminary long form prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia in connection with the previously announced public offering of common shares (the “Shares”) of Inovent (the “Offering”).

The completion of the Offering is subject to a minimum subscription for aggregate gross proceeds of $50,000,000. The Offering is being made in conjunction with an amalgamation of Inovent and Jetlines which, if completed, will constitute Inovent’s Qualifying Transaction (the “Transaction”) in accordance with the policies of the TSX Venture Exchange (“TSXV”). Inovent has received conditional approval of the TSXV for the Transaction.

The Offering is led by AltaCorp Capital Inc. and Euro Pacific Canada Inc. as co-lead agents and joint bookrunners of a syndicate of agents which also includes Laurentian Bank Securities Inc. Final pricing and determination of the number of Shares to be sold pursuant to the Offering and over-allotment option will occur immediately prior to the filing of the final long form prospectus in respect of the Offering.

The Offering is subject to certain conditions including, but not limited to, the execution of a definitive agency agreement with the agents, the concurrent closing of the Transaction, and the receipt of all necessary approvals, including the approval of the TSXV and the applicable securities regulatory authorities. The Transaction remains subject to the final approval of the TSXV.

Inovent and Jetlines are also pleased to announce that the Transaction has received approval by their respective shareholders. Shareholders also approved an incentive stock option plan for the amalgamated company following completion of the Transaction.

Inovent and Jetlines also announce that they have amended the definitive amalgamation agreement (the “Agreement”) in respect of the Transaction to extend the outside date for completion of the Transaction to January 31, 2015. The amendment to the Agreement will be posted on SEDAR at www.sedar.com under Inovent’s profile.