FLYHT Announces Issuance of Incentive Stock Options

Rhea-AI Summary

FLYHT Aerospace Solutions Ltd. announced the granting of 300,000 incentive stock options to employees at an exercise price of $0.64 per share, subject to regulatory approval. The options will vest immediately and expire on June 30, 2023. Under the stock option plan, a maximum of 10% of outstanding shares are reserved. FLYHT provides innovative aviation solutions aimed at enhancing operational efficiency, safety, and profitability through patented hardware products.

Positive

• Issuance of 300,000 stock options may incentivize employees and strengthen commitment.
• Stock options are exercisable at a relatively low price of $0.64.

Negative

• None.

CALGARY, AB / ACCESSWIRE / June 30, 2022 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") announced today that it has granted incentive stock options for an aggregate of 300,000 common shares, subject to regulatory approval, to employees under the stock option plan approved at the Annual and Special Meeting held on May 4, 2022.

The stock options are exercisable at a price of $0.64 per share. The options will vest immediately and will expire June 30, 2023. A maximum of 10% of the issued and outstanding shares are reserved under the Company's stock option plan. The options, and any common shares issued upon exercise of the stock options, are subject to a four-month resale restriction.

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. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT's TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT's wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Contact Information:
FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403.291.7437
aforbes@flyht.com
investors@flyht.com

FNK IR LLC
Matt Chesler, CFA
Investor Relations
646.809.2183
flyht@fnkir.com

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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.

SOURCE: FLYHT Aerospace Solutions Ltd.

View source version on accesswire.com:
https://www.accesswire.com/707137/FLYHT-Announces-Issuance-of-Incentive-Stock-Options

FAQ

What stock options did FLYHT Aerospace Solutions grant?

FLYHT granted 300,000 incentive stock options to employees, exercisable at $0.64 per share.

When do the stock options for FLYHT expire?

The stock options will expire on June 30, 2023.

How much of FLYHT's shares are reserved for stock options?

A maximum of 10% of the issued and outstanding shares are reserved under FLYHT's stock option plan.

What is the purpose of FLYHT's stock option plan?

The stock option plan aims to incentivize employees and align their interests with shareholders.