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BRIEF-Cargojet Announces Strategic Agreement With Amazon To Provide Air-Transportation Services

Published 2019-08-23, 07:28 a/m
© Reuters.  BRIEF-Cargojet Announces Strategic Agreement With Amazon To Provide Air-Transportation Services
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Cargojet Inc CJT.TO :

* CARGOJET ANNOUNCES STRATEGIC AGREEMENT WITH AMAZON TO PROVIDE AIR-TRANSPORTATION SERVICES

* CARGOJET INC - EXPECTS AGREEMENT TO GENERATE ADDITIONAL REVENUE GROWTH AND BE MEANINGFULLY ACCRETIVE TO CARGOJET'S EARNINGS AND CASH FLOWS OVER TIME

* CARGOJET INC - CARGOJET WILL ISSUE WARRANTS TO AMAZON IN TWO TRANCHES

* CARGOJET INC - FIRST TRANCHE OF WARRANTS WILL VEST OVER A PERIOD OF SIX AND A HALF YEARS

* CARGOJET - FIRST TRANCHE OF WARRANTS ALLOWS AMAZON TO BUY UP TO 9.9% OF CARGOJET'S VARIABLE VOTING SHARES AT AN EXERCISE PRICE OF $91.78 PER SHARE

* CARGOJET INC - AMAZON WILL ALSO RECEIVE ADDITIONAL WARRANTS TO ACQUIRE UP TO AN ADDITIONAL 5 PERCENT OF CARGOJET'S VARIABLE VOTING SHARES

* CARGOJET INC - FIRST TRANCHE OF WARRANTS WILL VEST OVER A PERIOD OF SIX AND A HALF YEARS

* CARGOJET - VESTING OF FIRST TRANCHE TIED TO DELIVERY BY AMAZON OF UP TO C$400 MILLION IN BUSINESS VOLUMES DURING SIX AND A HALF YEARS

* CARGOJET INC - ENTERED INTO A NEW STRATEGIC AGREEMENT WITH AMAZON.COM NV INVESTMENT HOLDINGS LLC, AN AFFILIATE OF AMAZON.COM.CA, INC

* CARGOJET INC - CARGOJET WILL ISSUE WARRANTS TO AMAZON TO PURCHASE VARIABLE VOTING SHARES THAT WILL VEST BASED ON ACHIEVEMENT OF COMMERCIAL MILESTONES

* CARGOJET - ADDITIONAL VESTING TIED TO DELIVERY BY AMAZON OF UP TO ADDITIONAL C$200 MILLION IN BUSINESS VOLUMES AFTER FIRST TRANCHE OF WARRANTS IS VESTED

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