Calgary, Alberta – October 20, 2015 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (“FLYHT” or the “Corporation“) today announced, as part of his appointment as FLYHT’s new Chief Executive Officer, Thomas R. Schmutz has been granted incentive stock options under the formal stock option plan approved at the Annual General Meeting held in June 2015, and subject to regulatory approval, to purchase a total of 500,000 common shares of the Corporation at a price of $0.205 per share. 100,000 stock options will expire on December 31, 2015 with 100,000 additional stock options expiring on December 31 of each subsequent year (the last 100,000 stock options expiring on December 31, 2019). Under the rules of the Corporation’s formal stock option plan, a maximum of 10% of the issued and outstanding common shares of the Corporation are reserved for issuance. The stock options vest immediately and are subject to a four month hold period.
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 Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
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Chief Financial Officer
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