MONTREAL, Nov. 14, 2012 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE) announced today that it has sold to Cormark Securities Inc., as investment dealer, a total of 31 million shares of Air Canada and 2.5 million warrants to purchase Air Canada shares at exercise prices of $1.51 (1.25 million warrants) and $1.44 (1.25 million warrants), for total net proceeds to ACE of approximately $58 million. As a result, ACE no longer holds any shares or warrants in the capital of Air Canada.

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SOURCE ACE AVIATION HOLDINGS INC.