CALGARY, ALBERTA--(Marketwired - Oct. 31, 2013) - Seair Inc. (TSX VENTURE:SDS) ("Seair" or the "Company") is pleased to announce that at an extraordinary meeting of Debentureholders held on October 31, 2013, the previously announced amendments to (among other things) extend the maturity date on the outstanding 8% convertible debentures were passed with the requisite majority. The resolutions to amend the terms of the debentures were passed unanimously by the 96.92% of debentureholders who cast ballots at the meeting.
Additional information concerning the amendments is available under the Company's profile on the SEDAR website at www.sedar.com.
Seair is also pleased to announce that it has received approval of the TSX Venture Exchange to the extension of the expiry date of its 18,619,106 issued and outstanding common share purchase warrants ("Warrants"). Each Warrant entitled its holder to purchase one common share of the Company at an exercise price of $0.40 per share with an expiry date of October 31, 2013.
Effective immediately, the Company has amended the terms of the Warrants to extend the expiry date of all the Warrants to October 31, 2014.
The remaining terms and conditions of the Warrants remain unchanged. The Company will deliver a Letter of Transmittal reflecting the amended expiry date to the registered holders of the Warrants.
Seair Inc. (TSX VENTURE:SDS) is a Calgary based cleantech company. Seair has commercialized proprietary technology that can diffuse gases, such as oxygen, ozone and carbon dioxide, into liquids more effectively and with lower power consumption than the competition. Seair's patented technologies can produce micron size bubbles that are more efficient than other diffusion technologies because the diffused gases remain in solution for extended periods of time, leading to increased productivity and lower operating costs. Seair has been working with customers in the Oil and Gas industry for over five years.
Seair applications include oil sands SAGD water solutions, frac and produced water treatment, industrial ponds treatment, mine dewatering/treatment, end-to-end sewage treatment for permanent residential communities and remote work camps, golf course irrigation and pond treatment and most recently, industrial emissions treatment. Parties interested in obtaining further information or receiving news releases and corporate documents from Seair may email such requests to firstname.lastname@example.org or visit the Seair website at www.seair.ca.
Seair is proud to be recognized as one of the Top 5 Cleantech companies in the TMX 2012 Venture 50.
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 news release.