FLYHT – Fueling Up To The Tune Of $5.1 Million (USD)

This afternoon, FLYHT announced that it would be boosting its balance sheet by raising $5.1 million (USD) to fund sales and marketing and importantly, “acquisition related expenses”. In addition to funding future business initiatives, the brokered private placement is aimed at significantly increasing FLYHT’s exposure in the U.S. capital markets, which have been a strong performer versus the Canadian experience.

The financing will be led by Minneapolis based Dougherty & Company and will be focused on institutional investors. Up to 30 million units at a price of USD $0.17 (CDN$0.22) will be issued comprised of one common share and a three-year half warrant exercisable at USD $0.25 (CDN$0.32).

For more information about Dougherty & Company, please click here.

CEO Bill Tempany will be on the road beginning this Friday with his first planned stop in Minneapolis with subsequent stops likely to be in Chicago, Milwaukee, Boston and San Francisco over the next two weeks.

FLYHT began trading on the OTCQX under the symbol FLYLF in June of last year.

We spoke with management and the following key points were highlighted:

  • There is an air of confidence around raising funds to support upcoming opportunities.
  • Exposure to strong U.S. markets – the private placement will bring more shares of FLY to our friendly neighbours south of the border.
  • When negotiating with large international companies,  a strong balance sheet is good to have in your corner.
  • The prospect of acquisitions is back on the table. According to management there are promising  opportunities on the table.
  • U.S. coverage – It is not uncommon for an investment bank to initiate coverage in support of or following a financing.

We also posed the question about a possible stock consolidation in context of the potential issuance of the additional shares. Management was clear that there will be no consolidation considered until such time as a “material” event justified it, potentially to pave the way to seek a listing on a senior U.S. Exchange.

To view the news release, please click here.

FLYHT Aerospace Solutions Ltd. Announces USD$5.1 Million Brokered Private Placement

CALGARY, ALBERTA–(July 29, 2015) – 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.

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.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com

Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.flyht.com

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.

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 United States Securities Act of 1933, as amended (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.

“I’m Really Excited About What I Am Walking Into” – An Interview With FLYHT’s New VP Sales And Marketing

While it was only July 20th that David Perez arrived at FLYHT’s Calgary head office to take up his new post, he is already moving aggressively on the sales and marketing front. Mr. Perez brings a wealth of knowledge to FLYHT from his 25 years of experience with the aviation industry. His most recent position was as Director of Travel and Transportation at Hewlett-Packard. What attracted him to FLYHT and his focus on expediting sales were the key topics discussed in an interview with Grant Howard, President of The Howard Group.

Here are some highlights:

  • When asked what initially caught his attention about  FLYHT, Mr. Perez candidly commented that he “wasn’t looking for a new opportunity”  and that he “had never heard of FLYHT” before he was approached by a recruiting firm. However, as he looked deeper, the technology and the opportunity grabbed his attention.
  • When probed further about a specific moment or event when he “knew” he had to join FLYHT, Perez described what happened when HP and FLYHT shared a booth last February at the Aviation Festival Asia.  He talks about the significant interest that FLYHT generated.  To view the promotional videos from the conference, click here for FLYHT, click here for HP.
  • With respect to the Aviation Festival Asia, he specifically commented, “I was just amazed that probably 80% of the traffic we got from the airlines coming to visit the booth wanted to go talk to FLYHT about global flight tracking. It was the first time I had really seen that it was not only I who was interested in the technology and what they were bringing, but the industry, the airlines were extremely interested in it.”

The interview soon turned to the inner workings and expectations of the sales team in the next six months to a year. Mr. Perez commented on a number of different topics:

  • With respect to Ascend Aero and the sales team, he’s very optimistic about the relationship, and the team is fine tuning the value proposition and how to best  accelerate the sales pipeline and  improve the sales engagement process.
  • In response to a question about current opportunities, he replied, “I am walking into a lot more opportunity than I was aware of when I was evaluating the company from the outside. There are some really good airlines in the pipeline right now . . . I’m really excited about what I am walking into.”
  • In conclusion, when asked about his goals/expectations for the next 6-12 months, he had three answers:
    • “I would like it (FLYHT) to be a known entity within the airline industry”.
    • Winning a major contract – “We have to get ourselves in with a well known recognizable airline.”
    • “Create a salesforce team that is well equipped and well trained, and really understands their product they are selling to the marketplace and the value it can provide.”

To listen to the full interview, see below or click here.

CEMATRIX Corporation Secures $1.3 million in Additional Contracts

Calgary, Alberta – July 22, 2015: CEMATRIX Corporation (TSXV: CVX) (the “Corporation” or the “Company” or “CEMATRIX”) is pleased to announce that its wholly owned subsidiary, CEMATRIX (Canada) Inc. has secured another $1.3 million in contracts, in aggregate, for infrastructure projects in Canada and the United States. This year’s total contracted work is now $12.4 million, of which $1.0 million is slated for 2016.

“CEMATRIX continues to land a record number of contracted sales and our backlog is significantly ahead of the prior year, which stood at $4.5 million at this time in 2014. Furthermore, our diversification into infrastructure markets, which started after the economic collapse in 2008/9 is beginning to pay dividends” stated Mr. Kendrick, President and CEO of CEMATRIX. “Management believes that we are just starting to scratch the surface of this robust market.”

CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution for various construction applications. Applications for cellular concrete include tunnel grouting; bridge abutment and retaining wall backfill; insulation of shallow utilities, roads and runways; insulation and/or structural foundations for tank bases and facilities; and as a floating base over weak and unstable or seismic prone soils, for roads and other types of infrastructure.

Neither 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.

For further information, please contact:

Jeff Kendrick – President and Chief Executive Officer
Phone: (403) 219-0484

Jeff Walker/Brad Dryer – The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com/brad@howardgroupinc.com

Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, expect”, “would’ or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries’ future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX’s beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX’s Management Discussion and Analysis dated May 27, 2015 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.

FLYHT Hires Vice President Sales and Marketing, David Perez

Calgary, Alberta – July 20, 2015 FLYHT Aerospace Solutions Ltd. (“FLYHT” or the “Company”) (TSX-V: FLY) (OTCQX: FLYLF) is pleased to announce Mr. David Perez has joined FLYHT as Vice President Sales and Marketing effective July 20, 2015.

Mr. Perez has over 25-years of accomplishments in the aviation industry. Most recently he served as Director of Travel and Transportation at Hewlett-Packard (“HP”), where he leveraged his industry expertise to secure many strategic aviation agreements. Prior to HP, David was with EDS where he assisted aviation clients in identifying cost saving opportunities. He also brings added experience from his career at two industry leaders, Sabre and American Airlines.

“FLYHT is thrilled to add a VP Sales and Marketing of David Perez’s caliber to our team,” remarked Matt Bradley, President of FLYHT. “He brings deep experience and knowledge of the aviation industry and aviation systems along with a background in client relationship building. His leadership, along with the recent additions to the sales team and the Ascend Group’s efforts, will extend FLYHT’s presence in the industry and launch greater awareness of AFIRS’ capabilities.”

“I’m excited by the valuable opportunities FLYHT brings to the aviation industry, as well as the potential of creating additional profitable revenue streams that will enhance the Company’s shareholder value,” commented Mr. Perez. “FLYHT is uniquely positioned to provide global flight tracking and data analysis to the aviation market.”

As part of his appointment as FLYHT’s VP Sales and Marketing, Mr. Perez will be granted incentive stock options of the Corporation for a total of 250,000 common shares of the Corporation at a price determined by the board of directors at their next meeting, expiring on December 31, 2018, under the formal stock option plan approved at the Annual General Meeting held in June 2015, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for issuance under the Corporation’s Stock Option Plan. The options vest immediately and are subject to a four month hold period.

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.

Contact Information

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com

Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com

Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.flyht.com

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.

FLYHT Maintains 100% Renewal Rate With Military Customer

Once customers start using AFIRS they don’t stop! This morning’s announcement marks the extension of a seven year long customer relationship. It also maintains FLYHT’s perfect record re-signing voice and data service agreements. Essentially, once a box is turned on, it will keep generating high margin (~80%) voice and data revenue for the life of the aircraft on which it is installed.

The news release issued by FLYHT today is for an 11 month extension for 23 military C-130 Hercules aircraft, and will generate an estimated $430,000 USD in revenue. FLYHT’s 2014 voice and data usage revenue was $3.7 million, which represented 53% of overall revenue for the year.

To view the news release, please click here.

 

Middle Eastern Military Customer Extends FLYHT Contract

CALGARY, ALBERTA–(July 15, 2015) – FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY)(OTCQX:FLYLF) (the “Company” or “FLYHT”) reported today that its customer of seven years, a Middle Eastern Military Organization, has extended its contract for the Automated Flight Information Reporting System (“AFIRS™”).The contract extension is for voice and data services on 23 C-130 Hercules Aircraft with the AFIRS 228 installed.

AFIRS provides timely and direct information about aircraft location and systems with the ability for operators to communicate with the crew at all times. The customer will continue to benefit from all AFIRS features and data services including automated Out, Off, On and In times, flight following, quick access recorder flight data, communication, navigation, surveillance systems compliance, global voice and EFB-enabled data communications over the Iridium satellite network. Additionally, the customer will have access to new applications as they become available.

“The contract extension is indicative of our strong relationship and the importance of operational control and global air traffic control compliance for the customer,” stated Matt Bradley, President of FLYHT. “The C-130 is an exceptional platform for AFIRS, and this expanding fleet is a great showcase for what 21st century connectivity can do for real-time decision making.”

FLYHT will provide services to the customer over an eleven-month contract with an option to extend to May 31, 2017. If both parties meet the contract terms, the gross revenue to FLYHT during the first term will be approximately $430,000 USD, excluding optional services and the extension.

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, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

 

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
403-291-7425
nheale@flyht.com

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com