CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) ("FLYHT" or the "Corporation") is pleased to announce we have solidified our agreements with three investor relations firms (the "IR Firms")for services in 2014. The lead IR Firm will remain The Howard Group Inc. ("The Howard Group") with continued support from Bristol Institutional Relations, a division of Bristol Capital Ltd. ("Bristol") and the addition of Kin Communications Inc. ("Kin Communications"), who will add a retail presence to the 2014 investor relations strategy.
Bill Tempany, President and CEO of FLYHT stated: "We are dedicated to providing superior visibility and transparency to our shareholders and the investment community. The varied talents and approaches of these three IR Firms will ensure the broadest communications possible to inform our shareholders and the investment community of the progress we are making. We believe that the approaches of these three firms will be very complimentary and all our shareholders and the investment community will have access to people they are familiar with to stay in touch with FLYHT".
The Howard Group has been retained until December 2014, and will be responsible for, among other matters, marketing FLYHT through online financial and social media, assisting in in development of press releases, corporate profiles, presentations and fact sheets, and maintaining FLYHT's contact database covering the investment community. As well, The Howard Group will assist in coordinating: (i) the electronic distribution of corporate materials, (ii) any required road show presentations, (iii) quarterly conference calls, and (iv) the Corporation's annual general meeting of shareholders. The Howard Group has also been engaged to advise FLYHT on its website and internet presence and will include FLYHT in its electronic blog commentary. Since 1988, The Howard Group has provided corporate communications, public venture capital and capital marketing services to micro and small-cap companies. The Howard Group is associated with the Insight Limited Partnership II, which invests in micro and small cap companies. The Howard Group, the principals of The Howard Group and the Insight II Limited Partnership own 3.2 million shares in FLYHT.
Bristol has also been retained until December 2014, and will be responsible for, among other matters, creating a greater institutional awareness of FLYHT by introducing the Corporation to members of the Bristol Network with a primary emphasis on the United States and Europe. Bristol is based in the greater Toronto area and 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, United States and Europe. Bristol and the principals of Bristol do not own shares in FLYHT.
Kin Communications has also been retained until December 2014, and will be engaged, among other matters, to initiate and maintain contact (including providing any applicable updates on the Corporation) with retail brokers, individual investors, and applicable investor/industry newsletter writers. These activities will include phone campaigns and media monitoring. Kin Communications is based out of Vancouver, B.C. and specializes in generating investor interest in their clients, building its clients' shareholder base, and solidifying communications to differentiate their clients from their peers. Kin Communications and the principals of Kin Communications do not own shares in FLYHT.
The Howard Group is due to receive, at the end of December 2013, a lump sum of $28,000 for services rendered to FLYHT in September, October, November and December 2013 ($7,000 per month for the period).
Starting in January 2014, under the terms of the investor relations agreements, each IR Firm will receive remuneration in the amount of $6,000 per month (aggregate consideration for all three IR Firms being $18,000 per month). The agreements also provide for, subject to the approval of the TSX Venture Exchange, the issuance of 400,000 common share stock options of FLYHT to each of the three IR Firms (aggregate stock options being issued to the three IR Firms being 1,200,000 common share stock options). The options expire three years after issued and are exercisable at $0.45 per common share. Vesting provisions provide that 25% of the total stock options issued under these three agreements vest to each of the IR Firms per quarter over the first one-year period (an aggregate 300,000 options (100,000 per IR Firm) will vest on March 31, June 30, September 30 and December 31, 2014). The agreements can be cancelled with 60 days' notice in writing and all stock options that have not yet vested upon termination of an agreement would immediately terminate. The options are subject to a four month hold period.
All three IR Firm agreements and the issuance of stock options are 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 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 FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
Join us on social media!
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.