FLYHT Engages Corporate Development Resource

Rhea-AI Summary

FLYHT Aerospace Solutions Ltd. (TSXV:FLY, OTCQX:FLYLF) has engaged Satichi Consulting Inc. for corporate development and capital markets communication services. The agreement includes a CAD$5,000 monthly fee for 12 months, with 120,000 stock options awarded, subject to TSX approval. Satichi will focus on enhancing FLYHT's visibility in the financial community and coordinating investor roadshows in the U.S. Satichi's lead, Daniel Kim, brings 25 years of investment banking experience, reinforcing FLYHT's commitment to effective investor relations.

Positive

• Engagement with Satichi Consulting aims to enhance visibility in the financial community.
• Daniel Kim's 25 years of investment banking experience adds credibility to investor relations efforts.

Negative

• Monthly fee of CAD$5,000 may raise questions about ongoing costs.

CALGARY, AB / ACCESSWIRE / August 31, 2022 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") today announced that it has retained Satichi Consulting Inc. ("Satichi") for corporate development and capital markets communications services. Pursuant to an agreement between the parties, Satichi will be responsible for, among other matters, developing and executing a comprehensive and strategically aligned investor relations program focused on: (i) raising awareness in the financial community across Canada and enhancing visibility of the Company; (ii) coordinating investor roadshows in the United States in tandem with FNK IR LLC; and (iii) assisting in the preparation of corporate materials.

Based in Toronto, Ontario, Satichi is an independent consulting company, wholly owned and managed by Daniel Kim. Mr. Kim has been in the investment banking industry for 25 years and was the head of research at his previous investment boutiques and was the lead technology research analyst. Mr. Kim has an M.B.A. from Queen's School of Business and a B.Sc. from the University of Toronto.

Under the terms of the agreement, Satichi will receive CAD$5,000 per month from FLYHT with an initial term of 12 months and thereafter on a month-to-month basis. Either party may terminate the agreement by providing 60 days written notice. Subject to TSX approval, under this agreement, Satichi will be granted 120,000 stock options at an exercise price per share equal to the Company's market price of the shares on the date of issuance and subject to the pricing rules of the TSX Venture Exchange in relation to options. The options will be subject to the vesting of 30,000 per quarter over the calendar year and shall be exercisable until August 10, 2026. The options are subject to the terms of the Company's stock option plan and the stock option agreement and will be subject to regulatory hold periods.

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.	FNK IR LLC	Satichi Consulting Inc.
Alana Forbes	Matt Chesler, CFA	Daniel Kim
Chief Financial Officer	Investor Relations	Corporate Development
403.291.7437	646.809.2183	416.728.5630
aforbes@flyht.com	flyht@fnkir.com	dkim@flyht.com
investors@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.

SOURCE: FLYHT Aerospace Solutions Ltd.

View source version on accesswire.com:
https://www.accesswire.com/714082/FLYHT-Engages-Corporate-Development-Resource

FAQ

What is the purpose of FLYHT Aerospace Solutions' engagement with Satichi Consulting?

The engagement aims to enhance visibility in the financial community and coordinate investor roadshows in the U.S.

How much is FLYHT paying Satichi Consulting?

FLYHT will pay Satichi CAD$5,000 per month under the consulting agreement.

What are the terms of the stock options granted to Satichi Consulting?

Satichi will receive 120,000 stock options at the market price of FLYHT shares, vesting 30,000 per quarter until August 10, 2026.

Who is Daniel Kim and what is his role at Satichi Consulting?

Daniel Kim is the head of Satichi Consulting and has 25 years of experience in investment banking.