FLYHT Announces Issuance of Incentive Stock Options

CALGARY, Alberta, June 25, 2020 (GLOBE NEWSWIRE) -- FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce it has granted incentive stock options for an aggregate 755,300 common shares, subject to regulatory approval, to employees, officers and directors under the stock option plan approved at the Annual and Special Meeting held on June 23, 2020.

The stock options are exercisable at a price of $0.59 per share. The options will vest 1/3 on each of June 23, 2021, 2022 and 2023 and will expire on June 23, 2024. A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options, and any common shares issued upon exercise of the stock options, are subject to a four-month resale restriction.

About FLYHT Aerospace Solutions Ltd. FLYHT improves aviation safety, efficiency and profitability by providing airlines, leasing companies, owners, operators and original equipment manufacturers with real-time insights into how their aircraft are performing. The Company’s products include AFIRS™ (Automated Flight Information Reporting System), a satellite communications (Satcom) aircraft interface device (AID) which enables real-time streaming of flight information, aircraft tracking and health monitoring, fuel management, 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

Contact Information:
FLYHT Aerospace Solutions Ltd. Alana ForbesChief Financial Officer 403-291-7437[email protected] [email protected]

Join us on social media! www.twitter.com/flyhtcorpwww.facebook.com/flyht www.slideshare.net/flyhtcorp www.youtube.com/flyhtcorp 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.

 

Source: FLYHT Aerospace Solutions Ltd.

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