FLYHT Announces Proposed Warrant Amendment

Rhea-AI Summary

FLYHT Aerospace Solutions Ltd. (TSXV:FLY, OTCQX:FLYLF) announced a request to amend the expiration date and exercise price of 2,667,610 outstanding warrants. The new expiry date is June 15, 2022, with a revised exercise price of $1.25, down from the original $1.75. This amendment follows market changes impacting FLYHT and the aviation sector due to the Covid pandemic, and is subject to approval by the TSX Venture Exchange.

Positive

• None.

Negative

• Decrease in exercise price from $1.75 to $1.25, indicating potential weakness in the company's market position.
• Amendment due to adverse market conditions stemming from the Covid pandemic, highlighting ongoing industry challenges.

CALGARY, AB / ACCESSWIRE / November 12, 2021 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") announced it has applied to the TSX Venture Exchange (the "Exchange") to amend the exercise price and expiry date of 2,667,610 previously issued and outstanding warrants (the "Warrants") such that the Warrants will now expire on June 15, 2022 and have an exercise price of $1.25. The Warrants were originally set to expire on November 15, 2021 (2,396,200 Warrants) and November 25, 2021 (271,410 warrants), both with an original exercise price of $1.75. The amendment is subject to approval by the Exchange.

This proposed amendment is being requested due to the recent market changes affecting FLYHT and the aviation industry as a whole as a result of the Covid pandemic.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, delivering industry leading solutions to improve aviation safety, efficiency and profitability. This unique capability is driven by FLYHT's patented aircraft certified hardware products including AFIRS™, a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming and TAMDAR™, which aggregates and streams airborne weather data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado, and is an AS9100 Quality registered company. For more information, view our latest presentation here, or 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

Join us on social media!
www.twitter.com/flyhtcorp
https://www.linkedin.com/company/flyht/

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/672650/FLYHT-Announces-Proposed-Warrant-Amendment

FAQ

What is the significance of FLYHT's warrant amendment on November 12, 2021?

The amendment adjusts the expiration date and exercise price of 2,667,610 warrants as a response to market challenges due to the Covid pandemic.

What changes were made to FLYHT's warrants announced on November 12, 2021?

The warrants now expire on June 15, 2022, with a lowered exercise price of $1.25, down from the original $1.75.

How do market changes affect FLYHT Aerospace Solutions Ltd. as of November 2021?

FLYHT is experiencing challenges in the aviation industry due to the Covid pandemic, prompting the need for a warrant amendment.

What is the new expiration date for FLYHT's warrants?

The new expiration date for FLYHT's warrants is June 15, 2022.

What was the original exercise price of FLYHT's warrants before the amendment?

The original exercise price was $1.75.