Pursuant to this closing, the Corporation will issue an aggregate $255,000 of Debentures (of which $5,000 of debentures were issued to an officer of the Corporation).  The details of the debt financing are as follows: the Debentures will mature on June 30, 2016 and bear interest at a rate of 12% per annum on the contributed amounts, which shall be accrued and paid annually in arrears commencing December 1, 2013. Purchasers of Debentures will receive a capital discount premium of 10% on the financing, meaning that for every $1.00 Debenture acquired, the Corporation shall owe, on the maturity date, principal equal to $1.10 to the Debenture holder. The purchasers of the Debentures will also be issued one bonus common share of the Corporation for every $1.00 principal amount of Debentures acquired pursuant to the offering. A total of 255,000 bonus common shares were issued under this final tranche.  All of the securities issued hereunder are subject to a 4-month hold period. The Debentures will not be listed on any stock exchange and are not convertible into common shares of the Corporation.

The net proceeds of the offering will be used for  the completion  of key certifications (STC’s) of the Corporation’s next generation product, the AFIRS™ 228 (Automated Flight Information Reporting System), and for working capital and business development objectives.

The Corporation closed on an aggregate $2.1 million of Debentures (pursuant to two tranches) which the Corporation anticipates will be sufficient to meet the anticipated needs of FLYHT.  Management of the Corporation is very thankful to its loyal shareholders as well as management and staff for participating in the financing.  FLYHT continues to monitor its spending and is working hard to increase revenues which coincide with Corporation’s objective to be cash flow positive by the end of 2013.

The debentures are secured against all personal property of the Corporation, including the Corporation’s intellectual property and are subordinated in right of payment to all existing and future secured bank and/or governmental indebtedness of the Corporation and any existing security already registered against the Corporation’s assets.

Finder’s fees of $4,125 were paid to an eligible finder for their assistance on this closing.

FLYHT also wishes to report that it recently granted incentive stock options to acquire up to 50,000 common shares, subject to regulatory approval, to a recently hired technical employee under the stock option plan approved at the Annual and Special Meeting of shareholders on May 7, 2013. The stock options are exercisable at an exercise price of $0.25 per share. All of the options granted vest immediately and expire on December 31, 2106. 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 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 Company has been publicly traded on the TSX Venture Exchange since 2003.

AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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www.flyht.com

 This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.  The securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold within the United States or to “U.S. persons” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

The contract requires FLYHT to install the AFIRS 220 on one Boeing 757 and AFIRS 228B on two Boeing 767 aircraft for an operator in the Maldives. The airline will use AFIRS to provide real-time flight data monitoring. The customer will benefit from all AFIRS 220 features including automated Out, Off, On and In times, airframe and engine exceedances, flight tracking and satellite voice communications.

FLYHT will provide equipment and services to the airline over a five year contract with automatic yearly renewals after the initial term. Installations are anticipated to begin in the second quarter of 2013. If FLYHT completes installation on all contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $480,000 USD, excluding optional services. The agreement includes the option to upgrade, at an additional charge, to the AFIRS 228S technology if the customer wishes. FLYHT has all necessary certifications to commence installations immediately.

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.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com
Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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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.

“During the quarter we continued to demonstrate progress in our long term growth strategy and are off to a solid start for 2013 with first quarter revenue results that were up 54% over the same period last year,” stated Bill Tempany, President and Chief Executive Officer of FLYHT Aerospace. “Our ongoing work is paying off through major both major OEM and government support.”

First Quarter Highlights Include:

-       Revenue of $1,717,136, which represents an increase of 54.0% over the same period last year.

-       Recurring revenue (UpTime usage) of $815,874, an increase of 7.3% over the first quarter of 2012.

-       Net loss of $970,136 which included research and development costs of $688,566, which if removed would have resulted in a net loss of $281,570, a reduction of 55.4% and 70.7% respectfully over the first quarter of 2012.

-       Distribution expenses were $680,865 representing a decrease of $288,103 from the first quarter of 2012.

-       Administration expenses increased to $601,372 versus the first quarter of 2012 or an increase of $38,933.

-       Research and development expenses were $688,566 or $524,593 lower than the first quarter of 2012.

-       Net finance costs increased $100,872 from the same quarter of 2012 to $207,124 in the first quarter of 2013.

-       Signed a contract with a Nigerian airline to install AFIRS 220 on five Airbus A319 and A320 aircraft.

-       A master service agreement was signed in January with Jabil Defense and Aerospace Services, a wholly owned subsidiary of Jabil Circuit, Inc. to manufacture the AFIRS 228 product line.

-       Received an activation Supplemental Type Certificate (“STC”) for the AFIRS 228 for the CRJ-900 Series aircraft.

-       An activation STC for the AFIRS 220 for the Bombardier DHC 8 – Q400 series aircraft was received.

-       Received a provisions STC for the AFIRS 228 for the Boeing B737 NG series aircraft.

-       Installations of AFIRS 220 commenced in China on aircraft of three new operators.

-       Jabil Defense and Aerospace began manufacturing the AFIRS 228B for FLYHT customers globally.

-       Delivered a major software release to CMC to further the Royal Saudi Air Force program

-       Shipments commenced of the AFIRS solution to its first South American customer.

 For detailed information FLYHT’s 2013 First Quarter Report containing the President and CEO’s Message, Management Discussion and Analysis and Financial Statements has been posted to the Company’s website and can be accessed at http://www.flyht.com/investors/financial-reports-results-centre/. The MD&A and Financial Statements have also been sent to SEDAR and will be accessible at www.sedar.com.

FLYHT will host a
live conference call to discuss first quarter results on Wednesday, May 8 at 8 am MDT (10:00 am EDT, 7 am PDT).

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610.  Outside Canada and the U.S., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call can do so by pressing *1. Also questions can be forwarded in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website (www.flyht.com) as soon as it is available.

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.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

 Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

www.slideshare.net/flyhtcorp

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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.

Shipments of the products are anticipated to commence in the third quarter of this year with services commencing in 2014 with the end users.

Globally there are more than 5,000 C-130 aircraft in operation and a majority of those aircraft will likely require avionics upgrades in the next few years.

“We are excited to continue our success in the global C-130 upgrade programs and look forward to supplying the major global avionic integrators with the many benefits AFIRS 228 provides airlines,” stated Bill Tempany, President & Chief Executive Officer. “This is the second middle eastern air force to employ FLYHT’s technology. We feel this is the start of a long and fruitful relationship with the customer in providing industry leading solutions to their customers. “

 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 Company has been publicly traded on the TSX Venture Exchange since 2003.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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.

The conference call will include a brief presentation about FLYHT’s first quarter results and then a question and answer period with management.

The first quarter financial results will be posted to Sedar prior to the Annual General Meeting, which will be held on Tuesday May 7^th, 2013.

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610.  Outside Canada and the U.S., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Also, you can email questions in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from  AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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.

Pursuant to this closing, the Corporation will issue an aggregate $1,855,000 of Debentures.  The details of the debt financing are as follows: the Debentures will mature on June 30, 2016 and bear interest at a rate of 12% per annum on the contributed amounts, which shall be accrued and paid annually in arrears commencing December 1, 2013. Purchasers of Debentures will receive a capital discount premium of 10% on the financing, meaning that for every $1.00 Debenture acquired, the Corporation shall owe, on the maturity date, principal equal to $1.10 to the Debenture holder. The purchasers of the Debentures will also be issued one bonus common share of the Corporation for every $1.00 principal amount of Debentures acquired pursuant to the offering. A total of 1,855,000 bonus common shares were issued under this tranche.  All of the securities issued hereunder are subject to a 4-month hold period. The Debentures will not be listed on any stock exchange and are not convertible into common shares of the Corporation.

The net proceeds of the offering will be used for  the completion  of key certifications (STC’s) of the Corporation’s next generation product, the AFIRS™ 228 (Automated Flight Information Reporting System), and for working capital and business development objectives.

It is expected that an additional tranche under this financing will close shortly.

The debentures are secured against all personal property of the Corporation, including the Corporation’s intellectual property and are subordinated in right of payment to all existing and future secured bank and/or governmental indebtedness of the Corporation and any existing security already registered against the Corporation’s assets

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

www.slideshare.net/flyhtcorp

www.youtube.com/flyhtcorp

www.flyht.com

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.  The securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold within the United States or to “U.S. persons” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610.  Outside Canada and the U.S., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Questions can be forwarded in advance or during the conference call to investors@flyht.com and may be posed live by dialing one of the above numbers and pressing *1 on a touch-tone phone.

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from  AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd. 

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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.

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610.  Outside Canada and the U.S., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Also you can email questions in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider.

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from  AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

 Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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.

The conference call will include a brief presentation about the fourth quarter and year end results and then a question and answer period with management.

To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610.  Outside Canada and the U.S., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Also, you can email questions in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider.

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from  AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

Investor Relations

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

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.

The net proceeds of the offering will be used for  the completion  of key certifications (STC’s) of the Corporation’s next generation product, the AFIRS™ 228 (Automated Flight Information Reporting System), and for working capital and business development objectives.

The details of the debt financing are as follows: the Debentures will mature on June 30, 2016 and bear interest at a rate of 12% per annum on the contributed amounts, which shall be accrued and paid annually in arrears commencing December 1, 2013. Purchasers of Debentures will receive a capital discount of 10% on the financing, meaning that for every $1.00 Debenture acquired, the Corporation shall owe, on the maturity date, principal equal to $1.10 to the Debenture holder. Subject to the approval of the TSX Venture Exchange, it is anticipated that purchasers of the Debentures will also be issued one bonus common share of the Corporation for every $1.00 principal amount of Debentures acquired pursuant to the offering. All of the securities issued pursuant to the private placement are subject to a 4-month hold period. The Debentures will not be listed on any stock exchange.

Completion of this debt offering remains subject to the final approval of the TSX Venture Exchange.

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 Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from  AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

Contact Information

FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com

The Howard Group Inc.

Dave Burwell

Senior Associate

(888) or (403)-221-0915

Bristol Institutional Relations

Glen Akselrod

President

(905) 326 – 1888

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

www.slideshare.net/flyhtcorp

www.youtube.com/flyhtcorp

www.flyht.com

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.  The securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold within the United States or to “U.S. persons” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES