HALIFAX,
NS, Jan. 3, 2025 /CNW/ - Chorus Aviation Inc.
(TSX: CHR) ("Chorus") today announced that it has filed
its management proxy circular (the "circular") in connection
with its upcoming special meeting (the "Meeting") of holders
of Class A Variable Voting Shares and Class B Voting Shares (the
"Shares", and the holders thereof "Shareholders").
The circular is available under Chorus' profile on the System for
Electronic Data Analysis and Retrieval + (SEDAR+)
at www.sedarplus.com.
The Meeting will take place on February 4,
2025 at 11:00 a.m. (Eastern time) in virtual only
format and is being held to seek Shareholder approval of a special
resolution for a proposed consolidation of the Shares (the
"Consolidation"). If approved and implemented, the
Consolidation would be carried out on the basis of a ratio within a
range of one (1) post-consolidation Share for every five (5) to ten
(10) pre-consolidation Shares, with the exact ratio to be
determined by Chorus' board of directors (the "Board").
Shareholders of record as of the close of business
on December 23, 2024 are entitled to receive notice of,
to participate in and to vote their Shares at the Meeting. To be
approved, the special resolution must be passed by at least two
thirds (66 2/3%) of the votes cast by Shareholders at the Meeting.
If the special resolution is approved, the Board will have
discretion, for a period of one year following the Meeting, to
determine the exact consolidation ratio and timing of the
Consolidation, including to not proceed with the Consolidation. The
Consolidation is also subject to the approval of the Toronto Stock
Exchange.
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. 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.
Shareholders who have any questions or require more information
with regard to the procedures for voting may contact Shorecrest
Group Ltd., Chorus' proxy solicitation agent, toll free in
North America at 1-888-637-5789 or
collect call from outside North
America at 1-647-931-7454, or by email at
contact@shorecrestgroup.com.
Forward-Looking Information
This news release may contain forward-looking information or
statements within the meaning of applicable securities laws
(collectively, "forward-looking information").
Forward-looking information may be identified by the use of terms
such as "believes", "expects", "anticipates", "assumes", "outlook",
"plans", "targets", "could", "intend", "may", "project" or other
similar terms and phrases, including negative versions thereof,
although not all forward-looking information contains these
identifying words. Forward-looking information in this news release
includes, but is not limited to, statements and expectations
regarding, but not limited to, whether shareholders will approve
the special resolution authorizing the Consolidation, whether the
Board will proceed with implementing the Consolidation following
the receipt of shareholder approval, and the consolidation ratio
that will be selected by the Board if it determines to proceed with
the Consolidation. Actual results could differ materially from
those described in the forward-looking information due to known or
unknown risks, including, but not limited to, the risk factors
described in Chorus' public disclosure record available under
Chorus' profile on SEDAR+ at www.sedarplus.ca.
Forward-looking information, by its nature, is based on
assumptions, is subject to important risks and uncertainties and
cannot be relied upon due to, among other things, changing external
events and general uncertainties of the business. Actual results,
performance or achievements may differ materially from those
indicated in forward-looking information due to a number of
factors, including the risk factors identified in Chorus' public
disclosure record available under its profile on SEDAR+ at
www.sedarplus.ca.
Forward-looking information in this news release reflects
information as of the date of this news release (or as of the date
it is stated to be provided) and is subject to change after such
date. Chorus disclaims any intention or obligation to update or
revise any forward-looking information, whether because of new
information, future events or otherwise, except as required under
applicable securities laws.
About Chorus Aviation Inc.
Chorus is a Canadian company focused on aviation services
businesses. Our operating subsidiaries are: 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 an
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 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.B', and 'CHR.DB.C', respectively. For further
information on Chorus, please visit www.chorusaviation.com.
SOURCE Chorus Aviation Inc.
