Calgary, Alberta – February 1, 2016 (TSX-V: FLY) (OTCQX: FLYLF) FLYHT Aerospace Solutions Ltd. (“FLYHT” or the “Corporation”) is pleased to announce that as part of its investor relations strategy for 2016, the Corporation will continue to engage the services of The Howard Group Inc. (“The Howard Group”) to assist the Corporation with its investor relations activities.
The Howard Group has been retained, pursuant to an investor relations agreement executed between the parties, for a two-year period, and will be engaged, among other matters, to: (i) assist with the coordination and dissemination of news and information of the Corporation to the public and the shareholders of FLYHT; and (ii) initiate and maintain contact with brokers, investors, prospective investors, brokerage houses, analysts and newsletter writers, and provide them with the news of FLYHT. In addition, The Howard Group will assist in coordinating: (i) media monitoring and reporting, (ii) any required road show presentations or organization, (iii) review and editing of investor relations material, and (vi) participation in the Corporation’s investor relations strategy. The Howard Group will advise FLYHT on its website and internet presence and will include FLYHT in its Insight investor blog commentary – https://howardgroupinc.com/howard-group-blog/.
Since 1988, The Howard Group has provided comprehensive investor outreach and capital markets programs, business development solutions, strategic planning and financing services to public companies. The Howard Group is associated with the Insight Limited Partnership II, which invests in micro and small cap companies. The Howard Group, the principals of The Howard Group and the Insight II Limited Partnership own approximately 2.5 million shares in FLYHT.
Under the terms of the investor relations agreement, The Howard Group will receive remuneration in the amount of $6,000 per month. The agreement also provides for, subject to the approval of the TSX Venture Exchange, the issuance of 400,000 common share stock options of FLYHT to The Howard Group (200,000 common share stock options) are to be issued on or before March 1, 2016 at an exercise price per share equal to the Company’s market price of the shares on the date of issuance and subject to the pricing rules of the TSX Venture Exchange in relation to options. The options will be subject to the vesting of 50,000 per quarter over the calendar year and shall be exercisable until December 31, 2018. An additional 200,000 common share stock options are to be issued on March 1, 2017 at an exercise price per share equal to the Company’s market price of the shares on the date of issuance and subject to the pricing rules of the TSX Venture Exchange in relation to options. The options will be subject to the vesting of 50,000 per quarter over the calendar year and shall be exercisable until December 31, 2019). The agreement can be cancelled with 30 days’ notice in writing and all stock options that have not yet been issued or vested upon termination of an agreement would immediately terminate. The options are subject to a four month hold period.
The investor relations agreement and the issuance of stock options are subject to TSX Venture Exchange approval.
The investor relations agreements with each of Bristol Institutional Relations, a division of Bristol Capital Ltd. and Kin Communications Inc. have expired and were not renewed by the Corporation.
About FLYHT Aerospace Solutions Ltd.
FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRSTM), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTimeTM ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.
FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
The Howard Group Inc.
(888) or (403)-221-0915
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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.