FLYHT CEO Speaks To Momentum On Heels Of Record Shattering Quarter

FLY:TSX-V

As of this writing, FLYHT volume had reached approximately three quarters of a million shares following news of a record revenue $6.7 million second quarter and CEO Tom Schmutz speaking with investors regarding ongoing corporate progress and performance.

The quarter received a major boost with a one-time Intellectual Property sale as outlined by CFO Nola Heale. Here are some of the highlights from the conference call:

  • FLY)160728a

    (click to enlarge)

    “Second quarter was an outstanding revenue quarter for FLYHT. Total revenue was $6.7 million, which is nearly 80% larger than our best previous quarter. This revenue result was helped by a $3.3 million intellectual property deal. Even without that, we brought in $3.5 million from our traditional sources of revenue, which would be a close second to the fourth quarter last year for best revenue.”

    “The OEM licence fees which show up in our parts sales for the company remains strong and continue to grow year over year. We are significantly ahead of last year’s revenue from this source at this time. Nearly doubling the first half of 2015.”

  • “We place significant internal focus on growing our recurring revenue sources more quickly and I expect to have some exciting news in this revenue area in the near future.”
  • “When we look at our revenues year to date, we find that the $9.3 million figure that we bought in quarters one and two of this year, is approaching the $10.5 million that we did in all of 2015.”
  • “Our company has demonstrated record revenues successfully in five of the last six quarters. So there is significant optimism within the company resulting from this improved revenue performance and the strong feedback we are receiving from OEM and solution partners that we have a unique offering for the market.”
  • “We are focused on accomplishing the goals we set out to do in 2016. We are increasing our revenues and will continue to shepherd that very important indicator. We are very focused on closing a new OEM opportunity and we continue to see interest in the market for our solution.”

Please click below to listen to the full conference call or click here.

FLYHT Reports Second Quarter Results – Record Revenue of $6.7M

Calgary, Alberta – July 27, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leading provider of real-time data communication technology and services for the aviation industry today reported financial results for its second quarter ended June 30, 2016.

“FLYHT is excited to share our second quarter results. The Company reported the highest sales revenue on record at $6.7 million for the quarter, which includes our traditional revenue and a previously disclosed sale of intellectual property,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We signed several contracts in the quarter, raised equity, retired a mature debenture and ended the first six months of the year with total revenues of $9.4 million, a figure close to the $10.5 million we achieved in the full year of 2015.”

Second Quarter Results Include:

  • Traditional revenue of $3,537,665 in the second quarter, a 121% increase from Q2 2015, bringing the six-month result to $6,148,996, 48% ahead of the prior year.
  • Recurring revenue (voice and data services) of $1,014,725 showed an increase of 18.7% over the second quarter of 2015, and parts sales of $1,126,542 increased 294.6%. These revenue categories are 14.5% and 91.4%, respectively, ahead of the prior year in the first six months.
  • Net profit for the quarter was $2,572,061 compared to a loss of $1,943,924 in the same period last year, a $4,515,985 increase in profitability and contributes to a $1,329,119 profit at the half-year.
  • Distribution expense increased $261,453 (26.5%) due mainly to higher people costs compared to the prior year.
  • Salaries and benefits increased administration expense 16.9% to $1,103,399 compared to the second quarter of 2015.
  • Research, Development and Certification Engineering cost decreased $336,871 in Q2 2016 and $150,206 in the half-year; mainly as a result of changing salaries and benefits.
  • Modified Working Capital at the end of Q2 2016 was positive $4,070,452 compared to negative $3,306,055 at December 31, 2015.
  • Customer deposits of $810,234 at quarter end, was a 6.3% decrease compared to Q2 2015; payments received of $1,014,022 were 239.3.0% higher than the same quarter of 2015 and the value of deposits moved to unearned revenue increased 215.2% compared to Q2 2015.
  • Unearned revenue increased to $1,561,020 or 26.2% higher than the second quarter of 2015 and 43.6% ahead of December 2015;
  • Revenue recognized on AFIRS units shipped was higher than in Q2 2015 as clients have installed 27 kits in Q2 2016 compared to seven in the second quarter of 2015 and 36 in total in 2016 compared to 22 in the first half of 2015.
  • AFIRS sales shipped, not accepted in 2016 exceeded 2015 by $1,437,277 or 205.1%.
  • A private placement offering was closed for $5,086,512 in May 2016 and in June a debenture matured and was redeemed for $2,321,000.

For detailed information, FLYHT’s 2016 Second Quarter Report containing the CEO’s Message, Management Discussion and Analysis and Financial Statements has been posted to the Company’s website and can be accessed at http://www.flyht.com/investors/financial-reports-results-centre/. The MD&A and Financial Statements have also been sent to SEDAR and will be accessible at www.sedar.com.

FLYHT will host a live conference call to discuss second quarter results on Thursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610.  Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (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

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.

Interview With FLYHT CEO Tom Schmutz

“There Is A Real Awakening In The (Airline) Business And FLYHT’s Well Positioned”

FLY:TSX-V

In a recent interview with U.S.-based Uptick Newswire, FLYHT CEO Tom Schmutz covered a number of topics including:

  • The company’s charitable sponsorship of Laval St. Germain and his heroic efforts to raise money for cancer
  • The company’s year over year rising revenues
  • The successful recent private placement
  • How the Automated Flight Information System (AFIRS™) saves airlines money through various services
  • How it enhances aircraft safety by being able to stream black box data during an emergency event during a flight

In closing, Mr. Schmutz summarized the company’s current focus and outlined the opportunities that lay ahead.

“Right now we are focused on a couple different areas. We are focused on getting additional OEMs, in addition to the A320 and A330. We have a very strong business in China right now. There is a Chinese mandate that requires satellite communications to be on aircraft and inspected by 2017. I just got back from China and I continue to be excited about that portion of our market. And we’re looking for opportunities to support flight tracking requirements as they come out. Those requirements have been pushed out to 2018 and 2021. But we think the aircraft community is becoming more enlightened about wanting to understand where their assets are and making sure they move from old 1950’s style technologies and into the 21st century where you can understand where your equipment is at any time and talk to it in real time.”

To listen to the full interview, please click here.

Shares Outstanding: 173,477,635
Options: 8,736,300
Fully Diluted: 182,213,935

 

LGC Capital – Cuban Sport Joint Venture Update

LONDON, UK,  HAVANA, CUBA and MONTREAL, July 22, 2016 –  LGC Capital Ltd. (TSXV: QBA) is pleased to announce that the Company’s 50/50 Joint Venture with international sporting group Rushmans has made its first high profile key appointment in Cuba to assist with the JV’s strategy.

The Joint Venture entity, Rushmans Cuba, has signed one of Cuba’s best known and respected TV presenters and sportscasters, Mr Hector Villar, to work with the JV team.

Rushmans has more than 25 years’ experience in world sport and has advised and supported sports governing bodies and played a key role in planning and delivering a host of major events including European Championships in Football and World Cups in Cricket and Rugby. Rushmans has also acted as a strategic advisor to sport bodies and corporations worldwide.

The full Rushmans Cuba Media Release is as follows:

Havana / UK 21st July 2016

LEADING CUBAN SPORTS TV AND MEDIA FIGURE JOINS RUSHMANS CUBA

Hector Villar, one of Cuba’s best known and respected TV presenters and sportscasters has joined the Rushmans Cuba team working to create opportunities for sport to develop and flourish domestically and internationally.

Villar is a familiar face on Cuba’s national broadcaster and also works as a TV director. He has covered a wide range of major sports events including Cuba’s National Baseball Series, the Olympic Games, UEFA Champions League, Cliff Diving World Series, X Fighters, Red Bull Channel Cross and the Mexican and Dominican Baseball Leagues as well as UFC events.

In addition to his media achievements he has a deep insight into the workings of the world of sport in Cuba and globally. He has worked on promotions for international brands including adidas, Red Bull and Rexona.

Villar is credited with helping change the face of sports broadcasting in Cuba over the last decade and his work with Rushmans includes exclusive interviews for Cuban TV with major global football figures such as Raul and Roberto Carlos as well as former Spain manager Vicente del Bosque, ex-FC Barcelona president Joan Laporta and Real Madrid president Florentino Perez.

As a key figure in Cuban sport and sports media as well as creative strategic thinker, Hector Villar will play an important role in helping Rushmans Cuba to support the development of sport in the country.

Rushmans Cuba is a 50/50 JV between Rushmans and LGC Capital a diversified Canadian listed company dedicated to Cuban investments across multiple business sectors.

LGC Capital was set up by renowned entrepreneur David Lenigas to identify investment and acquisition opportunities inCuba’s fast-developing energy, agri-business, manufacturing, commercial and tourism sectors.  

The joint venture with Rushmans, which has more than 25 years of global experience working with sports governing bodies and planning and delivering major sports events, is a logical step in a specialist area.

Cuba has a rich sporting heritage. Its baseball players, boxers and athletes have achieved international acclaim and status while the passion of its people for sport is reflected in the enthusiasm for the number of teams visiting to play exhibition games.

While baseball remains the national sport, football is growing exponentially and the nation’s sports development programme helps identify and foster emerging talent with the potential to become world class performers in many sports.

Nigel Rushman, chairman of Rushmans Cuba said: “We are delighted to welcome Hector to our team and grateful to RTVC for facilitating the arrangement.

“Villar is highly experienced and well-connected throughout sport and, above all, totally shares our commitment to creating an environment which will enable Cuban sport and Cuban athletes to realise their full potential and inspire a proud and successful sporting nation.”

“Rushmans’ experience of International sports and events and relationships with sports organisations worldwide, coupled with the on-the-ground relationships and capabilities of LGC invested businesses in Cuba give us a tremendous opportunity to contribute to Cuban sport and athletes whilst enhancing the world sporting view of Cuban sports culture.”

Note further pictures are available. Don’t hesitate to contact Rushmans regarding Sports opportunities in Cuba.

For more information on Rushmans Cuba:

Rushmans UK
UK E:
info@rushmans.com
UK T: +44(0)1264852010

CUBA E:
gorostola@hotmail.com
CUBA M:  +53 (5)2707511

WWW.RUSHMANS.COM

About LGC Capital

LGC Capital is one of the few public listed companies globally whose prime purpose is investing directly in the fast-growth Cuban economy, through its wholly-owned subsidiary Leni Gas Cuba Ltd.

Leni Gas Cuba has significant shareholdings and joint ventures in well-established international businesses operating in the Cuban Oil and Gas exploration, Travel, Events, TV and Film Production support, Human Resources, Agricultural and Import & Export sectors.

Neither the TSX Venture Exchange nor its Regulation Service 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:

LGC Capital Ltd
www.lgc-capital.com

Canada Office contact:
Rafi Hazan, Secretary and Director
Tel: (514) 839-7234

London Office contact:
David Lenigas, Co-Chairman and Chief Executive Officer
Anthony Samaha, Chief Financial Officer
Tel: +44 (0) 20 7440 0640

FLYHT Aerospace Solutions Ltd. Schedules Second Quarter Conference Call

Calgary, Alberta – July 21, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss its second quarter results to be heldThursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT).

The conference call will include a brief presentation from FLYHT’s CEO Tom Schmutz and CFO Nola Heale about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call toinvestors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (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

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.

Knowlton Capital to change name to LGC Capital on TSX Venture Exchange starting July 19, 2016

LONDON, HAVANA, and MONTREAL, July 18, 2016 – LGC Capital Ltd. (TSXV: QBA) is pleased to announce that Knowlton Capital Inc. will change its name to LGC Capital Ltd. at the start of trading on the TSXVenture Exchange on Tuesday, July 19, 2016 and that its ticker symbol will change to TSXV: QBA from TSXV: KWC.H.

About LGC Capital

LGC Capital is one of the few public listed companies globally whose prime purpose is investing directly in the fast-growth Cuban economy, through its wholly-owned subsidiary Leni Gas Cuba Ltd.

Leni Gas Cuba has significant shareholdings and joint ventures in well-established international businesses operating in the Cuban Oil and Gas exploration, Travel, Events, TV and Film Production support, Human Resources, Agricultural and Import & Export sectors.

Neither the TSX Venture Exchange nor its Regulation Service 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:

LGC Capital Ltd
www.lgc-capital.com

Canada Office contact:
Rafi Hazan, Secretary and Director
Tel: (514) 839-7234

London Office contact:
David Lenigas, Co-Chairman and Chief Executive Officer
Anthony Samaha, Chief Financial Officer
Tel: +44 (0) 20 7440 0640

Argex Titanium Announces Closing of Private Placement and New Management Team

MONTREAL, QUEBEC–(July 13, 2016) –Argex Titanium Inc. (TSX:RGX) (the “Corporation” or “Argex”) is pleased to announce that, it has closed its previously announced (see press release of May 9, 2016) private placement offering (the “Offering”) of secured convertible notes (the “Notes”) for gross proceeds of $2,400,000.  Each Note is convertible at the option of the holder into 33,333 common shares of the Corporation (“Shares”) at an issue price of $0.03 each and 28,333 warrants to purchase additional Shares at any time at a price of $0.05 each over a five-year term.  Unless converted prior thereto, the Notes will mature in two years from the date of issuance and bear interest at the rate of 15% per annum payable annually up to their time of conversion.  Holders of Notes may at their option convert any unpaid and/or accrued interest thereon into additional Shares at an issue price of $0.03 each.

In addition and as previously announced, the Corporation has amended its existing 8% convertible unsecured subordinated debentures by, inter alia, amending the conversion price thereof from $1.14 to $0.11.

As a result of the foregoing, the Corporation will now be in a position to resume testing and development activities at its laboratory facilities in Valleyfield Quebec and move forward with its plans to develop designs and technical databases for the building of both a pilot and a commercial plant to produce TiO2 pigment.

New leadership
The Corporation is also pleased to announce that its board of directors will be appointing Mr. Mazen Alnaimi as the Corporation’s Executive Chairman and CEO. Mr. Alnaimi, whose management company subscribed to 50% of the Offering, will lead the Corporation’s development.

Mr. Alnaimi has vast experience spanning almost 30 years in the commercialization of greenfield oil and gas, petrochemicals and steelmaking projects. After earning a B.S. in Civil Engineering from the University of Nebraska (1977) and an M.B.A. from the University of Houston (1981), Mr. Alnaimi started his professional career with Aramco, the oil production arm of the Saudi government, where he held positions of increasing responsibility. He was Project Engineer for a sea water injection facility and Design Manager for a refinery unit in Qassim, Saudi Arabia, assigned to work with Bechtel, first in San Francisco and later in Tokyo, Japan. He left Aramco in 1985 to join Saudi Fransi Bank, where he became involved in assessing the risk associated with financing mega petrochemical and steel production facilities on the bank’s behalf.

In 1989, Mr. Alnaimi started the first private-sector petrochemical facility in the Arabian Gulf, involving investors from five Gulf countries. That venture grew from a US $15 million investment to become Chemanol, a US $700 million company. As Managing Partner, Mr. Alnaimi was the visionary behind the project, from initial conceptualization to feasibility studies, technology selection and development, construction, commissioning, production, marketing and operations. Through several expansions, Chemanol grew from a single plant to 24 separate plants producing close to one million tons of methanol products and derivatives. Mr. Alnaimi took the company public in August 2008 in a very successful IPO that was 400% oversubscribed.

In 2000, Mr. Alnaimi started the first medium-section structural steel company in the Gulf region, United Gulf Steel, another very successful venture where he played the same role that he had at Chemanol. In 2001, he started a successful decorative laminate plant (MODECOR), again as a greenfield project. Mr. Alnaimi has also started several businesses in consulting, logistics and oil and gas services.

In addition, the Corporation is also pleased to announce that Mr. Carroll Moore will also be joining the new team as Chief Operating Officer. He will be leading a technical team of process engineers and chemists supported by external expert consultants.

Mr. Moore, who obtained a Bachelor of Chemical Engineering, did graduate work in industrial engineering in addition to earning an MBA through the University of Chicago’s Executive Program. He has been directly involved with Mr. Alnaimi in various projects over the course of the last 15 years and has four decades of experience in petroleum, chemical and business development activities. His expertise covers technology, construction, marketing, operations and financing of large projects globally.

In the past, Mr. Moore’s experiences included having responsibility over projects ranging in value from US $120 million to US $280 million at UOP Inc., a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Mr. Moore also worked at ABB, a leading global power and automation technology company that enables utility, industry, transport and infrastructure customers to improve their performance while lowering environmental impact, with projects valued at up to US$1 billion. At UOP and ABB, Mr. Moore was responsible for licensing and business development for sophisticated processes offered with full engineering packages; start-up, laboratory, and operating manuals; and field service of commercial units after commissioning. He participated in engineering design reviews, HAZOP reviews, Value Engineering reviews, 3D modeling evaluations and FEED exercises with several EPC contracting firms.

Mr. Mazen Haddad, the Corporation’s Interim President and Chief Executive Officer, participated in the Offering in the amount of $140,000 representing approximately 5.83% of the Offering.  This is an increase of $40,000 to the previously announced anticipated participation for Mr. Haddad.

DUE DILIGENCE
An extensive, thorough due diligence was carried out, encompassing a review of the technology, its attributes and competitive advantages, a financial review, and an assessment of the rationalization steps that should be taken going forward. It was concluded that the technology has merit and advantages over incumbent technologies and that proprietary know-how will be improved upon by the new team.

Based on the satisfactory results of the due diligence, Mr. Alnaimi confirmed his investment in Argex. The new team is committed to rationalizing corporate and operational expenses going forward in order to focus on the validity and competitiveness of the technology, and to restructuring the Corporation for the future, with a clear focus on efficiency and success.

WAY FORWARD
The objective will be to design an annual TiO2 production level of 25,000 tonnes per annum to de-risk the scaling-up of the pilot plant.

The pilot plant in Valleyfield, Quebec, will be restarted for the purposes of producing an acceptable pigment-quality TiO2 product and acquiring the physical and chemical data required to validate a process flow diagram. This activity will require four to six months of operating time and will be supported by the analytical efforts of external experts.

This phase will be followed by the hiring of an engineering firm to produce a complete basic engineering package, and then the contracting of a major EPC contractor to build a demonstration plant (scale of 1:2000) and a commercial plant.

ABOUT ARGEX TITANIUM INC.
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO2) for use in high quality paint, plastics, cosmetics and other applications. The company’s unique proprietary process takes relatively inexpensive and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods.

CONTACT INFORMATION:

Nicole Blanchard
Corporate Communications and Investor Relations
Argex Titanium
(514) 843-5959
nblanchard@argex.ca

Forward Looking Statements

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Leni Gas Cuba and Knowlton Capital complete reverse take-over

LONDON, HAVANA, and MONTREAL, July 12, 2016  – Cuban specialist investment company Leni Gas Cuba Limited (“Leni GasCuba”) and Knowlton Capital Inc. (“Knowlton”) (TSXV: KWC H) are pleased to announce that they today completed the previously-announced reverse take-over of Knowlton by Leni Gas Cuba (the “RTO”).

In connection with the RTO, Knowlton’s corporate name was changed to LGC Capital Ltd. (“LGC Capital”), so as to reflect the transaction with Leni Gas Cuba, and LGC Capital consolidated its 46,575,500 issued and outstanding common shares on the basis of one common share for every 1.27795529 shares issued and outstanding. At the closing of the RTO, LGC Capital issued an aggregate of 197,599,996 common shares to the shareholders of Leni Gas Cuba in exchange for their shares, on the basis of one LGC Capital share for every 2.5 shares of Leni Gas Cuba. As a result, LGC Capital now owns 100% of the shares of Leni Gas Cuba and there are 234,045,310 common shares of the LGC Capital issued and outstanding, of which 84.43% are held by the former shareholders of Leni Gas Cuba.

Leni Gas Cuba will be delisted from the ISDXGrowth Market effective today, July 12, 2016. LGC Capital will be listed on the TSXVenture Exchange as a Tier 2 investment company under the stock symbol “QBA”. It is expected that the shares of LGC Capital will commence trading (on a consolidated basis) on the TSX Venture Exchange shortly, on a date to be determined and announced by the TSXVenture Exchange. Until that time, the shares of Knowlton Capital will continue to trade on their current basis under the stock symbol “KWC H”.

The Board of Directors of LGC Capital is comprised of David Lenigas (Co-Chairman and Chief Executive Officer), Mazen Haddad (Co-Chairman), Anthony Samaha (Chief Financial Officer), Rafi Hazan (Secretary), Guy Charette and Sébastien Bellefleur.

About LGC Capital

LGC Capital is one of the few public listed companies globally whose prime purpose is investing directly in the fast-growth Cuban economy, through its wholly-owned subsidiary Leni Gas Cuba Ltd.

Leni Gas Cuba has significant shareholdings and joint ventures in well-established international businesses operating in the Cuban Oil and Gas exploration, Travel, Events, TV and Film Production support, Human Resources, Agricultural and Import & Export sectors.

Current Leni Gas Cuba investments are as follows: 40% of

  • 40% of Travelwelcome and inCloud9 Travel Group, a bespoke Cuban travel, events management, TV and film production assistance group.
  • 15.8% of MEO Australia Limited (“MEO”), an Australian-listed Cuban oil and gas explorer which owns the large and highly-prospective onshore Block 9 east of Havana. Leni Gas Cuba is MEO’s largest single shareholder. 15% of Petro Australis Limited, an Australian un-listed Cuban oil and gas explorer which has certain back-in rights to 40% of MEO’s Block 9 and is undertaking other oil and gas activities in Cuba. 50% of
  • 15% of Petro Australis Limited, an Australian un-listed Cuban oil and gas explorer which has certain back-in rights to 40% of MEO’s Block 9 and is undertaking other oil and gas activities in Cuba. 50% of
  • 50% of an imports and exports joint venture with Groombridge Trading Corporation, a Cuban-centric trading company. 49% of Cuba Professionals Inc, a Cuban talent management and services company. 50% interest in the Rushmans Lenigas Cuba Joint Venture for sport. Joint venture with Commercial Funded Solar Ltd to assess the potential of installing and operating renewable energy and hybrid power solutions (solar power, energy storage and integrated power management systems) in Cuba. A 10% interest in The Cuba Mountain Coffee Company Ltd, a venture aiming to market Cuban coffee.
  • 49% of Cuba Professionals Inc, a Cuban talent management and services company. 50% interest in the Rushmans Lenigas Cuba Joint Venture for sport. Joint venture with Commercial Funded Solar Ltd to assess the potential of installing and operating renewable energy and hybrid power solutions (solar power, energy storage and integrated power management systems) in Cuba. A 10% interest in The Cuba Mountain Coffee Company Ltd, a venture aiming to market Cuban coffee.
  • 50% interest in the Rushmans Lenigas Cuba Joint Venture for sport. Joint venture with Commercial Funded Solar Ltd to assess the potential of installing and operating renewable energy and hybrid power solutions (solar power, energy storage and integrated power management systems) in Cuba. A 10% interest in The Cuba Mountain Coffee Company Ltd, a venture aiming to market Cuban coffee.
  • A 10% interest in The Cuba Mountain Coffee Company Ltd, a venture aiming to market Cuban coffee.

Notice on forward-looking statements:
This release includes forward-looking statements regarding LGC Capital and its business. Such statements are based on the current expectations and views of future events of the management of LGC Capital, and are based on assumptions and subject to risks and uncertainties. Although the management of LGC Capital believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting LGC Capital, including risks regarding investments in Cuba, market conditions, economic factors, the ability of the management of LGC Capital to manage and to operate the business, and the equity markets generally. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and LGC Capital undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service 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:

David Lenigas, Co-Chairman and Chief Executive Officer
Anthony Samaha, Chief Financial Officer
LGC Capital Ltd.
Tel: +44 (0) 20 7440 0640

FLYHT Featured In Avionics Magazine – AFIRS Saves Time And Money

FLY:TSX-V

Avionics Magazine writer, Woodrow Bellamy III, recently penned an article called “FLYHT is Expanding Real Time Aircraft Monitoring to the Cloud” after interviewing CEO, Tom Schmutz and CTO Derek Graham. Key points that were detailed included how the technology saves airlines money and how it is helping customers identify potential mechanical issues before they occur.

In the piece, they discuss how the company’s Automated Flight Information Reporting System (AFIRS™) is moving its servers from the ground to the cloud.

To read the full article, please click here.

About Avionics Today
Avionics is the leading source for global aviation technology intelligence, covering the latest developments with the connected aircraft, NextGen, avionics innovation and global air traffic management modernization. More than a magazine, this is the platform for in-depth analysis on the global aircraft electronics market, used by top avionics executives, engineers, pilots and professionals throughout the value chain. All this is backed by a Qualified Circulation of 27,000.


Shares Outstanding: 173,477,635
Options: 8,736,300
Fully Diluted: 182,213,935


Knowlton Capital Inc. notes Leni Gas Cuba and Meo Australia press releases regarding Block 9 PSC, Cuba

MONTREAL, July 7, 2016  – Knowlton Capital Inc. (“Knowlton”) (TSXV: KWC H.V) has previously announced its proposed reverse take-over (“RTO”) with Leni Gas Cuba Limited (“LGC”). Knowlton wishes to advise its shareholders that MEO Australia Ltd. (“MEO Australia”), a company listed on the Australian Securities Exchange (ASX) and which is one of LGC’s portfolio companies, issued a press release today providing an update on MEO Australia’s 2,380 km2 onshore Block 9 Production Sharing Contract (known as “Block 9 PSC”), located on the north coast of Cuba, 140 km east of Havana. Knowlton notes that a copy of MEO Australia’s press release is available on its web site at www.meoaustralia.com.au, under “Investor Relations/ASXReleases”. LGC has also issued a press release in London with respect to MEO Australia’s press release, a copy of which is available on LGC’s website at www.lg-cuba.com.

Caution Regarding Press Releases
Neither Knowlton nor, to its knowledge, LGC has made any independent inquiries as to the accuracy or completeness of the press release issued by MEO Australia and Knowlton assumes no responsibility for the contents thereof. Knowlton cautions that the press releases issued by MEO Australia and LGC refer to “Prospective (Recoverable) Resource” in connection with Block 9 PSC. Knowlton assumes that such term and any other similar terms in the press releases were used in accordance with applicable Australia regulations but is not able to so confirm. Further, Knowlton is not able to confirm whether applicable Australian regulations are equivalent to those in the Canadian Oil and Gas Evaluation (COGE) Handbook and cannot confirm whether the disclosure in the MEO Australia and LGC press releases complies with the COGE Handbook and applicable Canadian regulations. Investors are cautioned to take all of the foregoing into consideration when reading the press releases issued by MEO Australia and LGC, respectively, particularly any references to “prospective resources”.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Completion of the RTO between Knowlton and LGC is subject to a number of conditions. There can be no assurance that the RTO will be completed as proposed or at all. Investors are cautioned that, except as disclosed in Knowlton’s management information circular dated June 9, 2016 prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Knowlton should be considered highly speculative.

For further information:

Rafi Hazan, Chief Financial Officer
Tel: (514) 839-7234

Knowlton Capital shareholders unanimously approve reverse take-over with Leni Gas Cuba Limited

MONTREAL, July 6, 2016 – Knowlton Capital Inc. (“Knowlton”) (TSXV: KWC H) is pleased to announce that at an annual and special meeting of shareholders held today in Montreal, Québec, Knowlton shareholders unanimously approved the previously-announced reverse take-over (“RTO”) of Knowlton by Leni Gas Cuba Limited (“LGC”). Shareholders also approved a change of corporate name to “LGC Capital Ltd. / Capital LGC Ltée” and a consolidation of Knowlton’s issued and outstanding common shares on the basis of one share for every 1.27795529 outstanding shares.

LGC previously announced that the RTO was unanimously approved by LGC’s shareholders at a meeting held in London, England on July 1, 2016.

As the RTO has been approved by both Knowlton’s and LGC’s shareholders, it is expected that LGC will seek a final order for the scheme of arrangement effecting the RTO from the British Virgin Islands High Court tomorrow, July 7, 2016. If a final order is granted by the BVI High Court, Knowlton expects that the closing of the RTO will take place shortly thereafter. In that event, Knowlton will issue a further press release announcing the date on which Knowlton’s shares will commence trading on the TSXVenture Exchange on a consolidated basis under the name “LGC Capital Ltd.”, the “resulting issuer” from the RTO. It is expected that the trading symbol for LGC Capital will be “QBA”.

In connection with the RTO, Knowlton also announces that an aggregate of 44 million shares of LGC Capital to be issued to Messrs. Donald Strang and Jeremy Edelman, both of whom are currently directors of LGC, will be subject to escrow pursuant to the “Seed Shares Resale Rules” of the TSXVenture Exchange. Under the escrow agreement, 10% of the escrowed shares will be released from escrow on the date of listing of the LGC Capital shares on the TSX Venture Exchange, and an additional 15% of the escrowed shares will be released six months, twelve months, 18 months, 24 months, 30 months and 36 months from such listing date, respectively.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Completion of the RTO between Knowlton and LGC is subject to a number of conditions. There can be no assurance that the RTO will be completed as proposed or at all. Investors are cautioned that, except as disclosed in Knowlton’s management information circular dated June 9, 2016 prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Knowlton should be considered highly speculative.

For further information:

please contact: Rafi Hazan, Chief Financial Officer
Knowlton Capital Inc.
Tel: (514) 839-7234

Knowlton Capital Inc. update on The Cuba Mountain Coffee Company

MONTREAL, July 6, 2016  – Knowlton Capital Inc. (“Knowlton”) (TSXV: KWC H.V) has previously announced a proposed reverse take-over (“RTO”) with Leni Gas Cuba Limited (“LGC”), which holds, among other investments, a 10% interest in The Cuba Mountain Coffee Company Ltd (“CMC”), an English company founded in 2012 to promote, on a worldwide basis, single-origin gourmet coffee from Cuba’s Guantanamo region, both as green beans and also via CMC’s own bespoke coffee brand, “Alma de Cuba”.

Knowlton wishes to advise its shareholders that LGC today issued the press release annexed below regarding CMC. LGC’s press releases are available on its web site at www.lg-cuba.com under “Investors/Media Releases”.

Annex
6 July 2016
MEDIA RELEASE

Leni Gas Cuba Limited
(“LGC” or the “Company”)

Investee Company Update: Cuba Mountain Coffee – Update on Cuban coffee deal
MOU with Nestlé Nespresso and TechnoServe

London, Havana: 6 July 2016: London listed Cuban specialist investment company, Leni Gas Cuba Limited advises that The Cuba Mountain Coffee Company Ltd (“CMC”), in which the Company recently acquired a 10% interest, has today made the following media statement:

“Release: Cuba Mountain Coffee Co. Project in Guantanamo, Cuba
6th July 2016 – 0700BST

The Cuba Mountain Coffee Co (CMC) has achieved a milestone in its negotiations with the Cuban authorities and is now hopeful that its coffee project in the Cuban province of Guantanamo will begin in 2017.

A visit to Guantanamo by CMC directors in June resulted in agreement on the principal terms for co-operation with the Asdrubal Lopez coffee processing plant in Guantanamo, CMC’s counter-party in Cuba. Crucial approvals have already been achieved and the project is now in its final negotiating stage before ministerial presentation, expected before January 2017.

In April 2016, CMC also signed a Memorandum of Understanding with Nestlé Nespresso with the ambition to explore how to work together with the non-profit organization, TechnoServe, to boost production and quality in some of the Guantanamo micro-regions for the benefit of Cuban farmers and the protection of their environment, subject to the approval of the Cuban authorities and compliance with applicable laws.

Release – Immediate
Comments and contact – Phillip Oppenheim
phillip@almacuba.com
The Cuba Mountain
Coffee Company Ltd
208a Centaur Street
London SE1 7EG
almacuba.com”

On 20 June 2016, Leni Gas Cuba Limited announced that it had acquired a 10% interest in CMC with the aim of assisting CMC’s efforts in boosting Cuba’s coffee production and exporting this valuable premium product to the world.

CMC is an English company founded in 2012 to promote, on a worldwide basis, single-origin gourmet coffee from Cuba’s famous Guantanamo Region, both as green beans and also via CMC’s own bespoke coffee brand, “Alma de Cuba”.

David Lenigas, The Company’s Executive Chairman commented;

“This is significant news from The Cuban Mountain Coffee Company. Leni Gas Cuba is enthusiastic about this venture, designed to assist improve the Cuban coffee industry, and to be potentially working with the likes of Nestlé Nespresso and TechnoServe is a very positive development indeed.”

The directors of Leni Gas Cuba Limited accept responsibility for this announcement.

For further information, please contact:

Leni Gas Cuba Limited
www.lenigascuba.com
David Lenigas, Executive Chairman
Anthony Samaha, Finance Director
Tel: +44 (0) 20 7440 0640

Beaumont Cornish Limited- ISDX Corporate Adviser
Roland Cornish
James Biddle
Tel: +44 (0) 20 7628 3396

Optiva Securities Limited- Broker
Christian Dennis
Jeremy King
Tel: +44 (0) 20 3137 1902

Notes To Editors:
Leni Gas Cuba Limited is currently listed in London and is one of the few public listed companies globally whose prime purpose is investing directly in the fast growth Cuban economy.

The Company has significant shareholdings in well established businesses operating in the Cuban travel, events, TV and film production support, Human Resources, Cultural, Import & Export and oil and gas exploration sectors.

Current Leni Gas Cuba Investments are as follows:

  • 40% of Travelwelcome and inCloud9 Travel Group, a bespoke Cuban travel, events management, TV and film production assistance group.
  • 15.8% of MEO Australia Limited (“MEO”), an Australian-listed Cuban oil and gas explorer which owns the large and highly prospective onshore Block 9 east of Havana. LGC is MEO’s largest single shareholder.
  • 15% of Petro Australis Limited, an Australian un-listed Cuban and oil and gas explorer which has certain back-in rights to 40% of MEO’s Block 9 and is undertaking other oil and gas activities in Cuba.
  • 50% of an imports and exports joint venture with Groombridge Trading Corporation (“GTC”), a Cuban-centric trading company
  • 49% of Cuba Professionals Inc, a Cuban talent management and services company.
  • 50% interest in the Rushmans Lenigas Cuba Joint Venture for sport. Joint venture with Commercial Funded Solar Ltd to assess the potential of installing and operate renewable energy and hybrid power solutions (solar power, energy storage and integrated power management systems) in Cuba. A 10% interest in The Cuba Mountain Coffee Company Ltd (“CMC”), a venture aiming to market Cuban coffee.

A 10% interest in The Cuba Mountain Coffee Company Ltd (“CMC”), a venture aiming to market Cuban coffee.

The press release annexed above was issued by LGC. Knowlton has not made any independent inquiries as to its accuracy or completeness and assumes no responsibility for the contents thereof.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Completion of the RTO between Knowlton and LGC is subject to a number of conditions. There can be no assurance that the RTO will be completed as proposed or at all. Investors are cautioned that, except as disclosed in Knowlton’s management information circular dated June 9, 2016 prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Knowlton should be considered highly speculative.

FLYHT Provides Quarterly Update

Calgary, Alberta – July 6, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the following updates: •

  • During the second quarter of 2016, FLYHT signed three new contracts for voice and data services. Two of the airlines elected to turn on the services after purchasing preowned aircraft with the Automated Flight Information Reporting System (“AFIRS™”) already installed. In the case of the third airline, the value of the hardware sale was accounted for in a contract in the Fall of 2015 (see press release dated September 28, 2015). New, aggregate data services revenue on the three new contracts will be approximately $304,000 USD assuming FLYHT provides services for the full term of the agreements. Optional services are available to the customers in addition to what has been ordered.
  • FLYHT is also pleased to report that a former client that had been discontinued for non-payment in 2014, has extended their contract, paid their arrears and added additional aircraft to the service agreement. Aggregate data and hardware revenue on this contract will be approximately $972,000 USD assuming FLYHT provides services over the full term of the agreement.These four airlines bring the number of new direct sales contracts signed in the second quarter to five (including one customer in China announced in a press release dated April 25, 2016). The combined value of the new contracts signed in the second quarter is $2.3 million USD over the term of the agreements.
  • In the quarter FLYHT added further certifications with the receipt of the Civil Aviation Administration of China (“CAAC”) supplemental type certificate (“STC”) for the Boeing 767 200 and 300 series. This STC is important to FLYHT because FLYHT has a Chinese Operator under contract with five 767s. Management of FLYHT anticipates that the operator is close to completing the first AFIRS 228 installation with the second installation underway.
  • The Company’s outstanding redeemable debentures matured and were repaid in full by FLYHT for $2.5 million on June 30, 2016.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (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

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.