Canada Jetlines has signed a non-convertible term loan agreement with Roosheila Group to borrow $1.5 million for aircraft acquisition as well as “general corporate and working capital purposes”. The lender is a holding company for Reg Christian, a director of the airline. Christian can nominate an independent director to the board for the term of the loan, which has been secured with a “subordinate security interest” against Jetlines’ credit card processor holdback funds.

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