USD$5.1 Million Brokered Private Placement
FLYHT Aerospace Solutions Ltd. (the "Corporation") (TSX VENTURE:FLY) (OTCQX:FLYLF) announced that it has entered into an agreement (the "Agreement") with Dougherty & Company LLC, based out of Minneapolis/St. Paul, Minnesota (the "Agent"), pursuant to which the Corporation will offer for sale on a private placement basis up to 30,000,000 units ("Units") at a price of USD$0.17 (CDN$0.22) per Unit for gross proceeds of up to USD$5.1 million (the "Offering"). Pursuant to the Agreement, the Agent has agreed to act as the Corporation's agent under the Offering and solicit, on a "reasonable efforts" basis, subscriptions for the Units. Each Unit will consist of one common share ("Common Share") and one-half of one common share purchase warrant (each whole warrant referred to as a "Warrant") of the Corporation. Each Warrant will entitle the holder to acquire one Common Share at a price of USD$0.25 (CDN$0.32) for a period of three (3) years from the date of issuance of the Warrant. In consideration for its services, the Agent shall receive a fee equal to 8% of the gross proceeds raised by the Agent in connection with the Offering as well as agent warrants ("Agent Warrants") in an amount equal to 8% of the aggregate number of Units sold by the Agent pursuant to the Offering. Each Agent Warrant shall be exercisable for a period of three (3) years from the date of issuance into one Common Share at a price equal to USD$0.17(CDN$0.22) per Common Share. The proceeds will be used to fund sales and marketing, acquisition-related expenses and for general working capital purposes. All of the securities issued pursuant to the Offering are subject to a 4-month hold period. Completion of the Offering is subject to the final approval of the TSX Venture Exchange. Read more at https://www.stockhouse.com/news/press-releases/2015/07/29/flyht-aerospace-solutions-ltd-tsx-venture-fly-announces-usd-5-1-million#dzXbLbBtFg3P6phM.99