Inovent Files Preliminary Prospectus

VANCOUVER , Nov. 26, 2014 /CNW/ – Inovent Capital Inc. (TSX Venture – IVQ.P, “Inovent”) and Canada Jetlines Ltd. (“Jetlines”) announce the joint filing of a 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 a 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 , subject to an over-allotment option.

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”).

The Offering will be led by AltaCorp Capital Inc. and Euro Pacific Canada Inc. as co-lead agents and joint bookrunners. 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.

Jetlines is a private aviation company with an overall business plan to commence domestic scheduled point-to-point air service in mid-2015 from a base at the Vancouver International Airport. Jetlines will apply an ultra-low cost operating model that focuses on generating new passenger demand from what management believes is currently an unserved market of price sensitive customers in Canada . Jetlines intends to select routes which avoid direct competition with currently operating airlines (where possible) and focus on cost discipline in order to keep operating costs low.

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, the approval of the shareholders of each of Inovent and Jetlines, and the receipt of all necessary approvals, including the approval of the TSXV and the applicable securities regulatory authorities.

On behalf of the board of Inovent:

INOVENT CAPITAL INC.
Per: “David Brett”

David H. Brett , MBA
Chief Executive Officer & Director