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Alejandro Arango has resigned, Pedro Manrique Gutiérrez has retired, and Fernán Ignacio Bejarano's service is coming to an end for undisclosed reasons.

C. Geoffrey Hampson, executive chairman of Soma Gold's board, is acting as interim CEO.

"His broad business acumen will be a key asset to our expansion plans in South America," said JetSmart CEO Estuardo Ortiz.

The consolidation will be on the basis of one new post-consolidation common share for every 10 pre-consolidation common shares, per Libero.