FLYHT Retires Secured Convertible Debentures
July 27 2021 - 7:04AM
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY)
(OTCQX: FLYLF) (the “Company” or “FLYHT”), a leader in providing
real-time insights and actions to improve global aviation
operations and profitability, today announced the repayment in full
of its outstanding secured convertible debentures (CAD$1.8
million), including any accrued and unpaid interest, on July 23,
2021 through a portion of the proceeds received from its recent
CAD$6.6 million non-brokered private placement.
“This convertible debenture provided FLYHT with
the funding required to develop the technologies that are now being
exploited by our AFIRS Edge and Actionable Intelligence solutions,”
commented Alana Forbes, FLYHT’s Chief Financial Officer. “We
appreciate the support of those who purchased these debentures in
July 2018, including members of our executive team, and the
confidence they have in the Company’s direction. By clearing this
debt and closing our recent private placement, we are in a stronger
financial position with sufficient cash, allowing us to focus on
delivery of these solutions which we have been developing for our
launch customers over the past year.”
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. |
FNK IR LLC |
Alana Forbes |
Matt Chesler, CFA |
Chief Financial Officer |
Investor Relations |
403.291.7437 |
646.809.2183 |
aforbes@flyht.com |
flyht@fnkir.com |
investors@flyht.com |
|
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the adequacy or accuracy of this release.
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