Licensing for My CMSMS Module

[Nackson]

Hi everyone,

I'm new here and currently developing a module for CMS Made Simple. I have a few questions about licensing as I prepare for release.

My module uses:

XYZ PHP library (MIT license)
jQuery ABC library (GPL v3)
I want to release my module under GPL v2, like CMSMS, while redistributing the libraries with my changes.

Can I release my module under GPL v2 while keeping the original licenses for the libraries?
If I extend a class from the XYZ library, do I need to keep the MIT license for that class?
Thank you!