Partner Jet Corp. Announces Change of Control and Management
09 June 2010 - 2:02AM
Marketwired
Partner Jet Corp. (TSX VENTURE: PJT) (the "Company") is pleased to
announce that FSS Financial Services Inc., has acquired an
aggregate of 4,123,760 common shares (the "Common Shares") of the
Company, representing approximately 45% of the issued and
outstanding voting shares of the Company, by way of private
agreement, of which the Company is not a party to. In connection
with the change of control of the Company, Lee Heitman and Robert
Fenn have resigned as officers and directors of the Company and
Bruce Reilly has resigned as a director but will continue in his
role as Chief Financial Officer of the Company. In addition, Lee
Heitman will continue his existing employment with the Company in a
non-executive capacity. Kevin Heitman remains the Chief Executive
Officer and a director of the Company. Richard Gage, Richard
Cooper, Ian McDougall and Tom Johnson have been appointed as
directors of the Company to replace the exiting directors. The new
board of directors expects to appoint additional officers of the
Company in the near future.
Brief biographies of the new directors are as follows:
Richard Gage - Mr. Gage has been involved in the aviation
industry for over forty years. He is the former senior operating
officer of Execaire Inc., past Chairman and later Chief Executive
Officer of the Canadian Business Aircraft Association, current
member of the board of directors of NAV Canada and the Canadian Air
& Space Museum. Rich is a multi-rated pilot.
Richard Cooper - Mr. Cooper is the President & Chief
Executive Officer of ICCI, Director & Chief Designer of Global
Sensor Systems, Director & CEO of Northrup Development
Corporation & Chairman of the Board of Cardinal Couriers, Ltd.
He is the former President & Director of the Toronto
International Air Show, a member of the board of directors of the
Canadian Air & Space Museum. Richard is a multi-rated fixed
wing and helicopter pilot and Warbirds collector.
Tom Johnson - Professor Johnson is the director of the Osgoode
Schulich J.D./MBA Program at York University and member of the
full-time faculty of Osgoode Hall Law School specializing in
business law and project finance. Professor Johnson is a member of
the Law Society of Upper Canada and has extensive business
experience throughout the world, including central Asia, Europe,
Australasia and the Caribbean.
Ian McDougall - Mr. McDougall has over twenty five years
experience in the aviation industry. He is the Chairman of Flight
Solutions & Services (FSS) Inc. and a multi-rated fixed wing
and helicopter pilot. Mr. McDougall is the former Chief Executive
Officer of Learjet Canada Inc. and a member of the Law Society of
Upper Canada.
The Common Shares were acquired by FSS Financial Services Inc.,
which may increase or decrease its ownership position in the
future. FSS Financial Services Inc. is an Alberta company
controlled by Rimgate Holdings Ltd., a corporation governed by the
laws of Canada, which is controlled by Ian McDougall.
The appointment of the new board appointees is subject to
acceptance by the TSXV. The shareholders of the Company will
confirm the incoming directors at the next annual meeting of
shareholders of the Company.
About Partner Jet Corp.
Partner Jet Corp. has specialized in executive private travel
for more than a decade and it has earned a reputation for reliable
service, excellent customer service and satisfaction as well as
being known as a professional domestic and international commercial
air carrier. Partner Jet's fleet of five jet aircraft has the
versatility to meet a wide variety of public and corporate needs,
offering security, convenience, and timely travel in and throughout
North America, the Caribbean and Europe.
Partner Jet Corp., through its wholly-owned subsidiary, PJet
Maintenance Ltd. ("PJet") is an Approved Maintenance Organization
(AMO) under Transport Canada regulations. Partner Jet's AMO
facility at the Lester B. Pearson International Airport is
operational 24 hours a day and it provides AMO services to a wide
variety of jet and turbo prop aircraft.
Shares Outstanding: 9,078,774
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Partner Jet Corp. Kevin Heitman Chief Executive
Officer (905) 676-0092 905-676-0192 (FAX) info@partnerjet.com
www.partnerjet.com
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