FLYHT Aerospace Solutions Closes Third 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 third tranche of its previously announced private placement (see press releases dated May 25, 2012, June 14, 2012and June 22, 2012 and June 27, 2012) (the “Private Placement”).

Pursuant to an agency agreement (the “Agreement”) with Toll Cross Securities Inc. (the “Agent”) entered into in connection with this closing, the Corporation will issue an aggregate 3,778,200 units (“Units”) at a price of $0.20 per Unit for gross proceeds of $755,640 (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. A director of the Corporation subscribed for an aggregate $15,500 of Units under this closing. BluMont Capital Corp. (which previously subscribed for an aggregate $650,000 worth of Units under the initial tranche of the Private Placement that closed on June 22, 2012) subscribed for an additional $150,000 of Units under this closing and will now control, directly or indirectly, approximately 10.76% of all the issued and outstanding Common Shares of the Corporation.

The Agent’s fees totaled approximately $52,900 and an aggregate of 264,474 Agent’s warrants were issued to the Agent pursuant to the Agreement. Each Agent’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.

As of today’s date, the Corporation has raised an aggregate $3,168,940 under the Private Placement. It is expected that additional tranches of the Private Placement will close shortly.

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.