Chorus Aviation Inc. Announces Filing of Circular for Special Meeting of Common Shareholders
DETAILS OF THE MEETING
The Meeting will take place on September 25, 2024 at 11:00 a.m. (Eastern time) in virtual only format. Shareholders of record as of the close of business on August 16, 2024 are entitled to receive notice of, to participate in and to vote their Common Shares at the Meeting. Details of the Meeting and how Shareholders or their duly appointed proxyholders can attend and participate in the Meeting are set out in the circular.
THE TRANSACTION
The Meeting is being held to seek Shareholders' approval of the sale of all of the assets in
Chorus' board of directors (the "Board") has unanimously determined that the Transaction is in the best interest of Chorus and unanimously recommends that Shareholders vote IN FAVOUR of the resolution relating to the Transaction by voting 'FOR'. A description of the factors considered by the Board is located under the heading "The Transaction – Reasons for the Recommendation" in the circular.
Each of
The Transaction is subject to the approval of at least two thirds (66 2/3%) of the votes cast by Shareholders at the Meeting.
Shareholders are encouraged to carefully review the circular, which is available on Chorus' website (www.chorusaviation.com) under "Investors – Reports" and under Chorus' profile on SEDAR+ at www.sedarplus.ca.
QUESTIONS
If you have any questions about the information contained in the circular in connection with the Meeting, please contact
Forward-Looking Information
This news release includes forward-looking information and statements within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct.
Examples of forward-looking information in this news release include statements and expectations regarding the Transaction, including the anticipated benefits that would result from the Transaction. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons, including: whether Shareholders approve the Transaction; whether all conditions precedent, including all necessary regulatory approvals, to the Transaction are satisfied; Chorus' ability to realize the anticipated benefits of the Transaction, including the implementation of any capital return program for Shareholders; the anticipated net proceeds from the Transaction; the anticipated use of proceeds from the Transaction; the potential impact of the announcement or completion of the Transaction on relationships, including with employees, suppliers, customers, investors and other providers of capital; changes in the aviation industry and general economic conditions; the emergence of disputes under the capacity purchase agreement between Chorus' subsidiary,
The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.
About
Chorus is a global aviation solutions provider and asset manager, focused on regional aviation. Our current principal subsidiaries are:
Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the
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