Cargojet Announces Voting Results from Annual and Special Meeting of Shareholders

MISSISSAUGA, ON, March 30, 2020 /CNW/ - Cargojet Inc. (TSX: CJT) ("Cargojet" or the "Company") announced the voting results from its annual and special meeting of shareholders held today virtually via live audio webcast.

Shareholders elected each of the director nominees as follows:

Shareholders also voted in favour of all items of business, including the special resolution adopting the previously announced plan of arrangement effecting amendments to Cargojet's articles of amalgamation to increase the limits of foreign ownership and control of its voting shares to those permitted by amendments made to the Canada Transportation Act in 2018. The implementation of these amendments, which are described in Cargojet's February 26, 2020 news release, remains subject to final approval of the Ontario Superior Court of Justice (Commercial List) at a hearing scheduled for Wednesday, April 1, 2020.  

Final voting results on all matters voted on at the meeting will be filed on SEDAR at www.sedar.com.

Cargojet is Canada's leading provider of time sensitive premium overnight air cargo services and carries over 8,000,000 pounds of cargo weekly. Cargojet operates its network across North America each business night serving 15 major cities, and selected international destinations. Cargojet owns a fleet of 26 aircraft.

Notice on Forward Looking Statement

Certain statements contained herein constitute "forward-looking statements", including potential timing and benefits to amending the Company's articles in accordance with the Canada Transportation Act amendments. Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the Company's most recent Annual Information Form filed with the Canadian securities regulators, and its most recent Annual Consolidated Financial Statements and Notes thereto and related Management's Discussion and Analysis (MD&A), for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. In particular, failure to obtain the necessary court and any regulatory approvals, or the failure to otherwise satisfy the conditions to the implementation of the proposed plan of arrangement and the resulting amendments to Cargojet's articles, may result in the proposed plan of arrangement and amendments not being completed on the proposed terms, or at all. The forward-looking statements contained or incorporated by reference in this news release represent Cargojet's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Cargojet disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

SOURCE Cargojet Inc.