CALGARY, ALBERTA – August 21, 2012 – FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (the “Company” or “FLYHT”) is pleased to announce it has retained The Howard Group Inc. (the “Howard Group”) as its investor relations advisor as of September 1, 2012.
The Howard Group has been retained by the Corporation for a period of twelve months, and will be responsible for, among other matters, online retail investor oriented programs, the dissemination of corporate information, investment community presentations and communications, assisting with management conference calls and managing shareholder inquiries.
“We are happy to have the Howard Group at the helm of our Investor Relations program,” stated Bill Tempany, President & CEO of FLYHT. “They have the IR expertise, know our Company well and we believe they are the best organization to represent us and engage our shareholders.”
Since 1988, the Howard Group has provided comprehensive investor and financial relations, business development solutions and in-depth strategic planning to public companies. The Howard Group is associated with the Insight Limited Partnership II, which invests in micro and small cap companies. The principals of the Howard Group, The Howard Group and the Insight II Limited Partnership own 3.39 million shares in FLYHT.
The Howard Group will receive remuneration in the amount of $7,000 per month and will be reimbursed for all approved expenses. The Agreement also provides for the issuance of 400,000 common share stock options of FLYHT to The Howard Group. The options expire three years after issued, and are exercisable at $0.25 per common share. Vesting provisions provide that 100,000 options vest (25% of the total amount issued) per quarter over the first one-year period. The Agreement can be cancelled with 60 days’ notice in writing and all stock options that have not yet vested upon termination of the Agreement would immediately terminate.
The Howard Group will also maintain and distribute an ongoing investor commentary on behalf of FLYHT, at – www.howardgroupinsightnewsletter.blogspot.com
This agreement is subject to regulatory and the TSX Venture Exchange approval.
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.
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
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.