FLYHT Announces Proposed Warrant Amendment
Calgary, Alberta – July 9, 2020 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce it has applied to the TSX Venture Exchange (the “Exchange”) to amend the exercise price and expiry date of 761,508 previously issued and outstanding warrants (the “Warrants”) such that the Warrants shall expire on December 24, 2020 (subject to acceleration in certain instances) and have an exercise price of $0.60.
The foregoing submission is subject to approval by the Exchange.
The Company has made application to the Exchange to amend the exercise price of the Warrants to $0.60 and extend the term of the Warrants to December 24, 2020, subject to 30-day acceleration if, for any ten consecutive trading days during the unexpired term of such Warrants, the closing price of the Company’s Shares is greater than $0.72. The Warrants were originally set to expire on July 24, 2020 with an original exercise price of $1.45. The proposed amendments are being sought by the Company due to the recent market changes affecting the Company and the aviation industry as a whole.
About FLYHT Aerospace Solutions Ltd.
FLYHT improves aviation safety, efficiency and profitability by providing insight into airline operations with actionable intelligence, enhanced by real-time observations via AFIRS™ (Automated Flight Information Reporting System). The Company’s products include AFIRS, a satellite communications (satcom) aircraft interface device (AID) which enables real-time streaming of flight information, cockpit voice and black box data streaming, as well as TAMDAR™ (Tropospheric Airborne Meteorological Data Reporting), which aggregates and streams airborne weather data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado and is an AS9100 Quality registered company. For more information, visit www.flyht.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.