Seair Inc. Announces Private Placement Financing
October 16, 2014 (Source: Marketwired) — NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Seair Inc. (TSX VENTURE:SDS) (the “Company“) is pleased to announce a non-brokered private placement financing of up to 1,466,667 common shares in the capital of the Corporation (the “Shares“) to Jeff Seibert, the Company’s Chief Executive Officer. The Shares will be issued at a purchase price of $0.15 per share for aggregate gross proceeds of up to $220,000.
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Mr. Seibert has agreed that the Shares will be subject to a hold period of twelve months and a day from the closing date of the offering (which is beyond the statutory minimum of four months), which is anticipated to occur on or prior to October 31, 2014.
“I am very enthused about the prospects of Seair and encouraged by the positive feedback our new value propositions are receiving from our prospective customer base,” said Jeff Seibert, company CEO.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Seair Inc.
Seair Inc. 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.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>