FLYHT Announces Successful Warrant Exercise
Calgary, Alberta – June 27, 2014 FLYHT Aerospace Solutions Ltd. (“FLYHT” or the “Corporation”) (TSX-V: FLY) (OTCQX: FLYLF) wishes to announce that, since March 31, 2014, a total of: (i) 151,987 warrants were exercised with an exercise price of $0.20 per share, 6,957,850 warrants were exercised with an exercise price of $0.30 per share, and 84,000 warrants were exercised with an exercise price of $0.40 per share (each warrant exercisable into one common share of the Corporation for an aggregate $2,151,352 of warrant exercise proceeds to the Corporation); and (ii) 99,500 stock options were exercised with an exercise price of $0.25 per share (each stock option exercisable into one common share of the Corporation for an aggregate $24,875 of stock option exercise proceeds to the Corporation).
As at today’s date, the outstanding warrants of FLYHT are 6,250 at $0.30 expiring June 29, 2014, 100,000 at $0.30 expiring July 4, 2014, 280,000 at $0.40 expiring December 23, 2014 and 3,948,750 at $0.75 expiring December 23, 2014.
“We are proud to announce that nearly 100% of the warrants were exercised in this round, which we believe shows great faith from our current shareholders” commented Bill Tempany, CEO of FLYHT. “We will post a video of our AGM soon, which highlights the progress we are making in major programs and hopefully reinforces the faith shown by this gesture from our shareholders.”
About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
The Howard Group Inc.
(888) or (403)-221-0915
Bristol Institutional Relations
Kin Communications Inc.
(866) or (604) 684-6730
Join us on social media!
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.