Canada Jetlines and Boeing sign purchase agreement for purchase of up to twenty one (21) 737 MAX aircraft

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, Dec. 15, 2014 /CNW/ - Inovent Capital Inc. (TSX Venture – IVQ.P, "Inovent") reports that Inovent is advised by its counterparty in a proposed amalgamation, Canada Jetlines Ltd. ("Jetlines"), that on December 11^th, 2014, Jetlines signed a definitive purchase agreement  with The Boeing Company ("Boeing") to acquire up to twenty-one (21) Boeing 737 MAX aircraft for delivery commencing in 2021 (the "Agreement"). The Agreement includes five (5) firm orders, purchase rights for an additional sixteen (16) 737 MAX and some conversion rights to the 737-8 MAX aircraft.   

Inovent and Jetlines are working toward a previously disclosed amalgamation process, which, if completed, will constitute Inovent's Qualifying Transaction ("QT") pursuant to the policies of the TSX Venture Exchange ("TSXV"). In connection with QT, on November 26, 2014 Inovent filed a preliminary long form prospectus (the "Prospectus") in connection with a public offering of common shares of Inovent for aggregate gross proceeds of  $50,000,000, subject to an over-allotment option,  to establish operations in accordance with Jetlines' business plan and other costs (the "Financing").

"This Agreement with Boeing is a major milestone for Jetlines," said Jim Scott, CEO of Jetlines. "We are thrilled to be partnering with Boeing. The Agreement provides Jetlines access to leading edge aircraft technology in the future."

"Boeing is proud to partner with Jetlines as it begins a journey to offer low airfares to passengers across Canada," said Brad McMullen, vice president of North America Sales, Boeing Commercial Airplanes. "The 737 MAX 7 is perfectly suited to the airline's needs and we appreciate the confidence Jetlines has in the airplane."

The completion of the QT and the Financing is subject to a number of conditions, including but not limited to, TSXV acceptance and shareholder approval. The QT cannot close until the required shareholder approval is obtained. There can be no assurance that the QT will be completed as proposed or at all.  Investors are cautioned that, except as disclosed in the management information circular of Inovent dated November 24, 2014, (the "Circular") prepared in connection with the QT, including the Prospectus which is incorporated therein by reference, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

The Financing is being led by AltaCorp Capital Inc. and Euro Pacific Canada Inc as co-lead agents and joint bookrunners. Copies of the Circular, the Prospectus and related documents are available under the Inovent issuer profile at www.sedar.com

About Canada Jetlines 

Jetlines plans to launch an airline in Canada in mid-2015 that applies Ultra-Low Cost Carrier operating principles with a focus on stimulating passenger demand through low cost airfares, and generating revenue from the sale of ancillary products and services onboard its aircraft. Jetlines intends to select routes which avoid direct competition with existing carriers in Canada and focus on cost discipline in order to keep operating costs low.

About the Boeing 737 MAX

The Boeing 737 MAX brings advanced engine technologies to build on the strengths of the Next-Generation 737. The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver high efficiency, reliability and passenger comfort in the single-aisle market. According to Boeing, airlines operating the 737 MAX will see a 14 percent fuel-use improvement over today's most fuel-efficient single-aisle airplanes.

On behalf of the board of Inovent:

INOVENT CAPITAL INC.
Per: "David Brett"

David H. Brett, MBA
Chief Executive Officer & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. news wire services or dissemination in the United States.

The securities have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof.  This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.

Image with caption: "Artist's rendering of Boeing 737 MAX 7 in flight with Canada Jetlines livery. (CNW Group/Inovent Capital Inc.)". Image available at: http://photos.newswire.ca/images/download/20141215_C8941_PHOTO_EN_9521.jpg

SOURCE: Inovent Capital Inc.

Inovent: David Brett, Chief Executive Officer, Tel. [phone], [email protected], www.inoventcapital.com