HALIFAX,
NS, Sept. 25, 2024 /CNW/ - Chorus Aviation
Inc. (TSX: CHR) ("Chorus" or the "Company") announced today
that Chorus' shareholders have voted to approve the previously
announced sale of the Company's assets comprising the Regional
Aircraft Leasing segment (the "Transaction"). The Transaction was
approved by approximately 98.1% of votes cast by Chorus
shareholders at a special meeting held today to consider the
Transaction. To be effective, the resolution to approve the
Transaction required the affirmative vote of at least two-thirds of
the votes cast by Chorus shareholders. The report on voting results
will be filed under the Company's profile on SEDAR+
(www.sedarplus.ca).
Chorus also announced the satisfaction of two regulatory
conditions to completion of the Transaction: (i) the expiration of
the waiting period under the U.S. Hart-Scott-Rodino Antitrust
Improvements Act of 1976; and (ii) the receipt of approval from
Ireland's Competition and Consumer
Protection Commission. Further, it was confirmed that the
Transaction does not require a notification or filing under the
Competition Act (Canada) or Part
IV of the Investment Canada Act (Canada). The Transaction remains subject to
the other regulatory approvals and customary conditions to closing
described in the Management Proxy Circular dated August 19, 2024 (the "Circular") and set out in
the Sale and Purchase Agreement in respect of the Transaction dated
July 30, 2024, both of which are
available under the Company's profile on SEDAR+ at
www.sedarplus.ca.
Forward-Looking Information
This news release contains forward-looking information and
statements within the meaning of applicable securities laws
(collectively, "forward-looking information"). Forward-looking
information involves significant risks and uncertainties that could
cause actual results to differ materially from those anticipated,
including, but not limited to, the risk that a condition to the
closing of the Transaction may not be satisfied or that the closing
of the Transaction might be delayed or not occur at all. Actual
results could differ materially from those described in
forward-looking information due to known or unknown risks,
including, but not limited to, the risk factors described in the
Circular and in Chorus' public disclosure record, in each case
available under the Company's profile on SEDAR+ at
www.sedarplus.ca.
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 Aviation Inc.
Chorus is a global aviation solutions provider and asset
manager, focused on regional aviation. Our current principal
subsidiaries are: Falko Regional Aircraft, the leading pure play
regional aircraft asset manager and lessor, managing investments on
behalf of third-party fund investors; Jazz Aviation, the largest
regional operator in Canada and
provider of regional air services under the Air Canada Express
brand; Voyageur Aviation, a leading provider of specialty charter,
aircraft modifications, parts provisioning and in-service support
services; and Cygnet Aviation Academy, an industry leading
accredited training academy preparing pilots for direct entry into
airlines. Together, Chorus' subsidiaries provide services that
encompass every stage of a regional aircraft's lifecycle,
including: aircraft acquisition and leasing; aircraft
refurbishment, engineering, modification, repurposing and
transition; contract flying; aircraft and component maintenance,
disassembly, and parts provisioning; and pilot training.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior
Unsecured Debentures due June 30,
2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange
under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C'
respectively. For further information on Chorus, please visit
www.chorusaviation.com.
SOURCE Chorus Aviation Inc.