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FLYHT Announces Closing of $5 Million Unsecured Debenture Arrangement

Calgary, Alberta – June 10, 2024 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce that the Company has closed its previously announced unsecured debenture in the principal amount of $5,000,000 (the “Debenture”) with Pinnacle Island II LP (the “Lender”), an unrelated third-party lender (see press release dated May 29, 2024).

The Debenture carries a term of three years, with annual interest of 12% payable on a quarterly basis. Proceeds are discounted by 5% (with such discount fee for the benefit of the Lender). As additional consideration for the loan, the Company has issued to the Lender 2,000,000 common share purchase warrants (the “Warrants”), with each Warrant exercisable for a period of three (3) years into one common share with an exercise price equal to $0.4839.

Paradigm Capital Inc. acted as a financial advisor to FLYHT on this transaction and was paid a cash commission equal to 4% of the Debenture principal amount.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products, AFIRS™. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, transmission of aircraft data both while inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT’s hardware products can also be interfaced with FLYHT’s proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. For more information, visit www.flyht.com.

Contact Information:

FLYHT Aerospace Solutions Ltd.FNK IR LLC
Alana ForbesMatt Chesler, CFA
Chief Financial OfficerInvestor Relations
403.291.7437646.809.2183
investors@flyht.commchesler@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.