FLYHT Announces Resolution of Claim
April 26 2021 - 6:04AM
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY)
(OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that the
Company has executed a settlement agreement and mutual release (in
respect of any claims between the parties) in respect of the
litigation between Thomas R. Schmutz (former CEO of FLYHT) and the
Company, as first announced on June 30, 2020. The parties have
agreed upon a final settlement whereby FLYHT will pay Mr. Schmutz
$225,000 CAD and 250,000 common shares in FLYHT. All of the common
shares issued pursuant to the settlement agreement are subject to a
4-month hold period. The settlement is conditional upon final
approval for the issuance of the common shares by the TSX Venture
Exchange.
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 ForbesChief Financial
Officer403.291.7437aforbes@flyht.cominvestors@flyht.com |
FNK IR LLCMatt Chesler, CFAInvestor
Relations646.809.2183flyht@fnkir.com |
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www.twitter.com/flyhtcorphttps://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.
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