FLY Flyht Aerospace Solutions Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


FLYHT Aerospace Solutions Ltd. (the "Corporation" or "FLYHT" ) (TSX VENTURE:FLY)
is pleased to announce that it has closed the final tranche of its previously
announced debt offering of non-convertible debentures ("Debentures") (see press
releases dated March 18, 2013 and April 18, 2013).


Pursuant to this closing, the Corporation will issue an aggregate $255,000 of
Debentures (of which $5,000 of debentures were issued to an officer of the
Corporation). The details of the debt financing are as follows: the Debentures
will mature on June 30, 2016 and bear interest at a rate of 12% per annum on the
contributed amounts, which shall be accrued and paid annually in arrears
commencing December 1, 2013. Purchasers of Debentures will receive a capital
discount premium of 10% on the financing, meaning that for every $1.00 Debenture
acquired, the Corporation shall owe, on the maturity date, principal equal to
$1.10 to the Debenture holder. The purchasers of the Debentures will also be
issued one bonus common share of the Corporation for every $1.00 principal
amount of Debentures acquired pursuant to the offering. A total of 255,000 bonus
common shares were issued under this final tranche. All of the securities issued
hereunder are subject to a 4-month hold period. The Debentures will not be
listed on any stock exchange and are not convertible into common shares of the
Corporation.


The net proceeds of the offering will be used for the completion of key
certifications (STC's) of the Corporation's next generation product, the
AFIRS(TM) 228 (Automated Flight Information Reporting System), and for working
capital and business development objectives. 


The Corporation closed on an aggregate $2.1 million of Debentures (pursuant to
two tranches) which the Corporation anticipates will be sufficient to meet the
anticipated needs of FLYHT. Management of the Corporation is very thankful to
its loyal shareholders as well as management and staff for participating in the
financing. FLYHT continues to monitor its spending and is working hard to
increase revenues which coincide with Corporation's objective to be cash flow
positive by the end of 2013.


The debentures are secured against all personal property of the Corporation,
including the Corporation's intellectual property and are subordinated in right
of payment to all existing and future secured bank and/or governmental
indebtedness of the Corporation and any existing security already registered
against the Corporation's assets.


Finder's fees of $4,125 were paid to an eligible finder for their assistance on
this closing.


FLYHT also wishes to report that it recently granted incentive stock options to
acquire up to 50,000 common shares, subject to regulatory approval, to a
recently hired technical employee under the stock option plan approved at the
Annual and Special Meeting of shareholders on May 7, 2013. The stock options are
exercisable at an exercise price of $0.25 per share. All of the options granted
vest immediately and expire on December 31, 2106. 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 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(TM) UpTime(TM), 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(TM),
automatically streams vital data, normally secured in the black box, to
designated sites on the ground in real-time. The Company has been publicly
traded on the TSX Venture Exchange since 2003. 


AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of FLYHT Aerospace
Solutions Ltd.


Join us on social media! 

www.facebook.com/flyht 

www.twitter.com/flyhtcorp 

www.slideshare.net/flyhtcorp 

www.youtube.com/flyhtcorp

www.flyht.com 

This press release does not constitute an offer to sell or solicitation of an
offer to buy any of the securities described herein. The securities have not
been and will not be registered under the U.S. Securities Act, or any state
securities laws and may not be offered or sold within the United States or to
"U.S. persons" (as such term is defined in Regulation S promulgated under the
U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com
www.flyht.com


The Howard Group Inc.
Dave Burwell
Senior Associate
(888) or (403) 221-0915


Bristol Institutional Relations
Glen Akselrod
President
(905) 326-1888

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