FLYHT Aerospace Solutions Closes Final Tranche of Its Previously Announced Private Placement

FLYHT Aerospace Solutions Ltd. (the “Corporation”) (TSX VENTURE:FLY) is pleased to announce that it has closed the final tranche of its previously announced private placement (see press releases dated May 25, 2012, June 14, 2012, June 22, 2012, June 27, 2012 and June 29, 2012) (the “Private Placement”).

Pursuant to this closing, the Corporation will issue an aggregate 4,905,000 units (“Units”) at a price of $0.20 per Unit for gross proceeds of $981,000 (the “Offering”). Each Unit consists 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 $0.30 for a period of two (2) years from the date of issuance of the Warrant. BluMont Capital Corp. (which previously subscribed for an aggregate $800,000 worth of Units under the previous tranches of the Private Placement) subscribed for an additional $75,000 of Units under this closing and will now control, directly or indirectly, approximately 11.03% of all the issued and outstanding Common Shares of the Corporation.

Finder’s fees totaled an aggregate of $68,670 and an aggregate of 343,350 finder’s warrants were issued to a finder for their assistance on this closing. Each finder’s warrant shall be exercisable for a period of two (2) years from the date of issuance into one Common Share at $0.20 per Common Share.

The Corporation raised an aggregate $4,149,940 under the Private Placement. An aggregate of approximately $244,700 agent’s/finder’s fees were paid under the Private Placement and an aggregate of 1,223,509 agent’s/finder’s warrants were issued to agents/finders for their assistance on the Private Placement.

The proceeds will be used to fund business development objectives and for working capital purposes.

All of the securities issued pursuant to the Offering are subject to a four (4) month hold period. Completion of the Offering is subject to the final approval of the TSX Venture Exchange.