FLYHT Announces Receipt of Statement of Claim
01 July 2020 - 8:20AM
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY)
(OTCQX: FLYLF) (the “Company” or “FLYHT”) has received a statement
of claim from Thomas R. Schmutz (former Chief Executive Officer of
FLYHT) in the amount of $525,000 CAD in relation to the termination
of his employment with the Company (previously announced June 8,
2020). More details will be announced by the Company in due course
including further actions from FLYHT in relation to these matters.
The matters raised in the lawsuit are considered by the Company
to be unfounded and unproven allegations that will be vigorously
defended. Although no assurances can be given with respect to the
outcome of such proceedings, the Company believes it has
valid defenses to this claim and accordingly has not recorded any
related liability at this time.
About FLYHT Aerospace Solutions
Ltd. FLYHT improves aviation safety, efficiency and
profitability by providing airlines, leasing companies, owners,
operators and original equipment manufacturers with real-time
insights into how their aircraft are performing. The Company’s
products include AFIRS™ (Automated Flight Information Reporting
System), a satellite communications (Satcom) aircraft interface
device (AID) which enables real-time streaming of flight
information, aircraft tracking and health monitoring, fuel
management, and black box data streaming, as well as TAMDAR™
(Tropospheric Airborne Meteorological Data Reporting), which
aggregates and streams airborne weather data in real-time. FLYHT is
headquartered in Calgary, Canada with an office in Littleton,
Colorado and is an AS9100 Quality registered company. For more
information, visit www.flyht.com.
Contact Information: |
FLYHT Aerospace Solutions
Ltd. Alana ForbesChief Financial Officer
403-291-7437aforbes@flyht.com investors@flyht.com |
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