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Jetcom Announces Corporate Update

TORONTO, ONTARIO -- (Marketwired) -- 08/27/14 -- Jetcom Inc. (the "Company") held an annual and special meeting of shareholders on August 26, 2014.

Since the Company was required to have its annual meeting, to save costs, it was decided to also seek approval for certain special business. At the meeting:


a.  The incumbent board and auditor were re-elected.
b.  The existing stock option plan was re-approved.
c.  By-Law No. 3 was confirmed, changing the Company's general by-law to (a)
    require a minimum of 25% resident Canadian directors (instead of a
    majority); and (b) to add a provision for advance notice of proposed
    nominations to the board of directors.
d.  Special resolutions were passed to approve consolidation of the existing
    common shares on a one new share for sixty old shares basis, or such
    lesser consolidation as the board may in its discretion approve; to
    create a new class of shares having collectively 2x the voting rights of
    the common shares and deleting the existing unused class of preference
    shares; and to permit the Company to change its name. None of these
    resolutions have been implemented yet. Each special resolution may be
    revoked by the board before acted upon.
e.  Discussion was held concerning a potential transaction with CVeT Power
    Corp. ("CVeT") that the Company is contemplating, as disclosed in the
    Company's Management Information Circular. In advance of final
    negotiations with CVeT, shareholders were asked to approve and approved
    Jetcom entering into agreement with CVeT wherein up to 96,000,000 post-
    consolidation shares are to be issued to security holders of CVeT, or on
    no worse terms to Jetcom. It is contemplated that the transaction would
    take place by way of a three-cornered amalgamation, which may strictly
    require no Jetcom shareholder approval. Approval was sought and obtained
    in any event. Notes: if completed, the proposed transaction with CVeT
    would be an arms-length transaction to Jetcom; and would in effect
    constitute a reverse-take over by shareholders of CVeT.
f.  Arms length debt settlement of $42,500 for 1,500,000 post-consolidation
    shares and non-arms length debt settlement of $42,500 for 1,500,000
    post-consolidation shares were approved. Majority of minority approvals
    was obtained as required.
g.  Shareholders ratified past acts of the Company.

No securities regulator, stock exchange, or regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Jetcom Inc.
A. G. Dragone
President
(877) 769-2501
(416) 946-1456 (FAX)

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