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FLYHT Aerospace Solutions Ltd. (TSX.V:FLY) Closes Final Tranche of Its Previously Announced Private Placement

Calgary, Alberta – July 4, 2012 – FLYHT Aerospace Solutions Ltd. (the “Corporation”) (TSX Venture: FLY) is pleased to announce that it has closed the final tranche of its previously announced private placement (see press releases dated May 25, 2012June 14, 2012June 22, 2012June 27, 2012 and June 29, 2012) (the “Private Placement”).

Pursuant to this closing, the Corporation will issue an aggregate 4,905,000 units (“Units”) at a price of $0.20 per Unit for gross proceeds of $981,000 (the “Offering”). Each Unit consists of one common share (“Common Share”) and one-half of one common share purchase warrant (each whole warrant referred to as a “Warrant”) of the Corporation.  Each Warrant will entitle the holder to acquire one Common Share at a price of $0.30 for a period of two (2) years from the date of issuance of the Warrant. BluMont Capital Corp. (which previously subscribed for an aggregate $800,000 worth of Units under the previous tranches of the Private Placement) subscribed for an additional $75,000 of Units under this closing and will now control, directly or indirectly, approximately 11.03% of all the issued and outstanding Common Shares of the Corporation.

Finder’s fees totaled an aggregate of $68,670 and an aggregate of 343,350 finder’s warrants were issued to a finder for their assistance on this closing. Each finder’s warrant shall be exercisable for a period of two (2) years from the date of issuance into one Common Share at $0.20 per Common Share.

The Corporation raised an aggregate $4,149,940 under the Private Placement. An aggregate of approximately $244,700 agent’s/finder’s fees were paid under the Private Placement and an aggregate of 1,223,509 agent’s/finder’s warrants were issued to agents/finders for their assistance on the Private Placement.

The proceeds will be used to fund business development objectives and for working capital purposes.

All of the securities issued pursuant to the Offering are subject to a four (4) month hold period. Completion of the Offering is 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

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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.