JETLINES DENIES ALLEGATIONS IN INOVENT CAPITAL PRESS RELEASE

Jetlines said today that it considers the allegations made by Inovent Capital Inc. in its February 10, 2015 press release to be without merit and intends to vigorously defend itself. Jetlines believes that it acted with appropriate care, diligence and skill at all times.

“We are confident that the allegations are unfounded, that at all times, our conduct was appropriate and that Inovent received appropriate disclosure of all relevant events. We had hoped to extend our agreement with Inovent, however, the terms demanded by Inovent for an extension of our agreement were not in our view appropriate or in the best interest of Jetlines and its shareholders, and were not accepted by Jetlines. As a result, Jetlines exercised the termination prevision of the amalgamation agreement”’ said Jim Scott, Chief Executive Officer of Jetlines.