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Share Name Share Symbol Market Type
TSXV:SDS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Seair Announces Completion of Private Placement of Convertible Debentures

22/05/2014 6:43pm

Marketwired Canada


Seair Inc. (TSX VENTURE:SDS) ("Seair" or the "Company") is pleased to announce
that it closed its private placement of 618 8% Secured, Subordinate,
Convertible, Redeemable Debentures (the "Debentures") at a price of $1,000 per
Debenture for aggregate gross proceeds of $618,000 (the "Offering"). 


The Debentures bear interest at a rate of 8.00% per annum payable quarterly.
Each Debenture will be convertible at the holder's option into common shares of
the Company (the "Common Shares") at any time after the issuance of the
Debentures and prior to December 31, 2015 at the conversion price of $0.30 per
Common Share, subject to customary anti-dilution adjustments in the event of
stock consolidation, stock splits, stock dividends and other such events. 


The Debentures will not be listed on the TSX Venture Exchange, however, the
Common Shares issuable upon conversion of the Debentures will be listed and will
be subject to a four month hold period from the date of closing. 


Integral Capital Markets, a division of Integral Wealth Services Limited acted
as the sole agent in connection with the private placement and received a
commission of $49,440 plus 164,800 broker warrants (the "Broker Warrants") which
are exercisable at $0.30 per Common Share. The Broker Warrants will expire
December 31, 2015, unless the term of the Debentures is extended, in which case
the term of the Broker Warrants will be no more than 24 months from closing of
the Offering. 


The Company intends to use the net proceeds from the Offering for general
corporate purposes. 


Completion of the Offering is subject to the receipt of final acceptance of the
TSX Venture Exchange.


ABOUT SEAIR 

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 info@seair.ca 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. Forward-looking Statements and Information


This news release contains certain statements that may be "forward-looking
statements" or "forward-looking information" within the meaning of applicable
securities laws. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. In particular, but without
limiting the foregoing, this news release contains forward-looking statements or
information pertaining to, among other things, use of proceeds, receipt of final
approval from the TSX Venture Exchange, future growth, business prospects and
financing opportunities. Although Seair believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in forward-looking statements. Forward-looking
statements are based on the beliefs, estimates and opinions of Seair's
management on the date the statements are made. Except as required by law, Seair
undertakes no obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors, should
change. 


The forward-looking statements contained in this news release are made as of the
date of this news release, and the Company does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
expressly required by securities law. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Seair Inc.
Jim Laird
CFO
780-477-7188
info@Seair.ca
www.seair.ca

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