Seair Announces Approval by Debentureholders to Amendments to the Trust Indenture
15 May 2014 - 7:48AM
Marketwired
Seair Announces Approval by Debentureholders to Amendments to the
Trust Indenture
CALGARY, ALBERTA--(Marketwired - May 14, 2014) - Seair Inc.
(TSX-VENTURE:SDS) ("Seair" or the "Company") is pleased to announce
that at an extraordinary meeting of Debentureholders held on May
14, 2014 the previously announced amendments to the trust indenture
dated October 31, 2012 between Seair and BNY Trust Company of
Canada ("BNY"), as supplemented by the first supplemental trust
indenture dated October 31, 2013 (together, the "Trust Indenture")
representing the existing 8% debentures (the "Existing Debentures")
were passed with the requisite majority. The resolutions to amend
the terms of the debentures were passed unanimously by the 82.57%
of debentureholders who cast ballots at the meeting. The
Debentureholders approved amendments to
- authorize the ranking of the debentures to be issued pursuant
to a previously announced private placement (the "New Debentures")
to be pari passu with the Existing Debentures;
- authorize, upon delivery of an irrevocable election by the
Company to BNY, the payment of interest on the Existing Debentures
to be made in common shares in the capital of the Company and
further providing that the Company's right to compel the conversion
of the Debentures be suspended pending the expiry of such
irrevocable election;
- authorize the disposition of all or any portion of the
Company's septic assets and providing for the use of proceeds for
any such disposition; and
- authorize and direct BNY to consider and approve any such
further or consequential changes, amendments or revisions as may be
required to be made to the Trust Indenture to give effect to the
foregoing extraordinary resolutions.
Additional information concerning the amendments to the Existing
Debentures is available in the Management Information Circular
dated April 5, 2014 and filed under the Company's profile on the
SEDAR website at www.sedar.com on April 8, 2014.
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.
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.
Seair Inc.Jim LairdCFO780-477-7188info@Seair.cawww.seair.ca
Seair Inc. (TSXV:SDS)
Historical Stock Chart
From May 2024 to Jun 2024
Seair Inc. (TSXV:SDS)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
More Seair Inc. News Articles