CALGARY, AB / ACCESSWIRE / June 24, 2024 / FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced that Lorne Sugarman has been elected to its Board of Directors. Mr. Sugarman brings a wealth of experience with technology companies as a C-level operating executive, investment banking professional, and principal investor, which adds further depth and expertise to the Company as it enters the next phase of growth.
"Lorne's breadth of experience operating, advising and investing in leading Canadian technology companies will be a great asset to FLYHT as we bring our innovative 5G aviation and weather solutions to market and march toward profitable growth," said Mary McMillan, Executive Chair of the Board. "With his proven track record of transforming corporate objectives to profitable growth and creating shareholder value, Lorne is an excellent addition to the FLYHT board."
"FLYHT has distinguished itself for over two decades is an innovator in communications and data solutions for global commercial aviation customers, and I am thrilled to begin working with a board of directors and management team that lead such an important Canadian company," said Sugarman. "I look forward to collaborating with the board and management team as we move briskly to capitalize on the large opportunities for profitable rapid growth that lie ahead of FLYHT."
Mr. Sugarman has 30 years of experience as a tech entrepreneur, financial executive, board member, and advisor at leading Canadian technology companies. He is currently the founder and president of Adielle Group. He is a board member and CEO of EVP Capital Inc. and Iocaste Ventures Inc., both capital pool companies. Sugarman continues to serve as a board member of Tokens.com, an emerging robotics and AI business, where he was previously the president.
FLYHT also announces today that Michael Brown decided to retire and so did not put forward his name for re-election at the Company's AGM on June 19, 2024. Mike has steadfastly provided his experience and unwavering commitment to FLYHT over many years, and we are deeply grateful for the guidance he has provided our organization during his time on the board. Mike was one of our longest serving board members having joined FLYHT in March of 2003. During his time on the board FLYHT progressed from a small company with big ideas to an organization that supplies the aviation industry with critical, real-time satellite communications and airline operational expertise. FLYHT's recent success of completing the AFIRS Edge 5G product line represents a milestone worthy of his dedication to our organization and the airlines we serve. The Company wishes him well in his future endeavours.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products, AFIRS. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, transmission of aircraft data both while inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT's hardware products can also be interfaced with FLYHT's proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time.
FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. For more information, visit www.flyht.com.
Contact Information:
| FLYHT Aerospace Solutions Ltd. | FNK IR LLC |
| Alana Forbes | Matt Chesler, CFA |
| Chief Financial Officer | Investor Relations |
| 403.291.7437 | 646.809.2183 |
| investors@flyht.com | mchesler@flyht.com |
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SOURCE: FLYHT Aerospace Solutions Ltd.
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