From FLYHT Aerospace Solutions Ltd
CALGARY, Alberta, July 09, 2020 (GLOBE NEWSWIRE) — FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce it has applied to the TSX Venture Exchange (the “Exchange”) to amend the exercise price and expiry date of 761,508 previously issued and outstanding warrants (the “Warrants”) such that the Warrants shall expire on December 24, 2020 (subject to acceleration in certain instances) and have an exercise price of $0.60.
The foregoing submission is subject to approval by the Exchange.
The Company has made application to the Exchange to amend the exercise price of the Warrants to $0.60 and extend the term of the Warrants to December 24, 2020, subject to 30-day acceleration if, for any ten consecutive trading days during the unexpired term of such Warrants, the closing price of the Company’s Shares is greater than $0.72. The Warrants were originally set to expire on July 24, 2020 with an original exercise price of $1.45. The proposed amendments are being sought by the Company due to the recent market changes affecting the Company and the aviation industry as a whole.