CALGARY, ALBERTA -- (Marketwire) -- 12/19/12 -- FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (the "Company" or "FLYHT") is pleased to announce it has, pursuant to an investor relations agreement, retained Bristol Capital Ltd. ("Bristol") to help enhance its corporate image and public company brand within the institutional investment community.
Bristol has been retained by the Corporation for a period of twelve months effective January 1, 2013 and will assist FLYHT Aerospace achieve greater visibility with institutional investors in both North America and Europe through the dissemination and communication of corporate materials, conference calls and road show activity.
"We believe the time has come for FLYHT to become more proactive in communicating our business platform to a much broader professional investment community," stated Bill Tempany, President and CEO of FLYHT. "Our work in Europe with both NetJets and our relationship through L-3 with Airbus should make FLYHT more relevant to a certain segment of the institutional investor market in Europe but also in the United States. Bristol has an outstanding reputation of helping small emerging Canadian Companies reach both National and International Institutional investors in both of those markets and we look forward to working with them in that regard."
Bristol provides comprehensive investor relations and strategic financial communication services. Bristol specializes in assisting micro-cap and small cap public companies expand their corporate awareness amongst professional investors throughout Canada, the United States and Europe.
Under the terms of the investor relations agreement, Bristol will receive remuneration in the amount of $7,000 per month. The Agreement also provides for, subject to the approval of the TSX Venture Exchange, the issuance of 400,000 common share stock options of FLYHT to Bristol. 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.
This agreement is subject to 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.
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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.