AeroMechanical Services Ltd. Announces Brokered Private Placement

CALGARY, Alberta--(BUSINESS WIRE)--AeroMechanical Services Ltd. (AMA) is pleased to announce that it has entered into an agreement with Max Capital Markets Ltd. to act as agent (the "Agent") in connection with a financing of up to 16,000,000 Units (the "Units") of the Corporation at a price of $0.50 per Unit (the "Offering"). Each Unit shall be comprised of one common share (a "Common Share") and half of one common share purchase warrant (a "Purchase Warrant"). Each whole Purchase Warrant shall be exercisable into one Common Share at an exercise price of $0.75 for 18 months following the closing of the Offering. The gross proceeds of the offering will be up to $8,000,000. The Units will be offered by way of private placement exemptions from prospectus requirements in such provinces of Canada as the Agent may designate.

In consideration for its services, the Agent shall receive a placement fee equal to 8% of the gross proceeds raised in connection with the Offering as well as broker warrants ("Broker Warrants") in an amount equal to 7% of the Units sold under the Offering.

The proceeds received by the Corporation from the sale of Units will be used to support the integration of the Corporation's products with L-3 products for the teaming agreement recently announced as well as completion of the next generation afirs 228 product that is required to meet forthcoming regulatory changes in Europe and elsewhere

All of the Common Shares issued pursuant to this private placement are subject to a 4-month hold period. Completion of the private placement is subject to the final approval of the TSX Venture Exchange. The Corporation expects to complete the Offering on November 20, 2009

About AeroMechanical Services Ltd.

AeroMechanical Services Ltd. provides proprietary technological solutions and services designed to reduce costs and improve efficiencies in the aviation industry. The company has successfully commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, afirs™ UpTime™, FLYHTStream™ and FIRST^TM allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time.

afirs, UpTime, FLYHT, FLYHTStream and aeroQ are Trade Marks of AeroMechanical Services Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

AeroMechanical Services Ltd
Tom French, 403-291-7427
CFO
tfrench@amscanada.com
www.amscanada.com
or
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Bob Beaty
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