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CALGARY, ALBERTA--(Marketwired - Jan. 12, 2017) - Seair Inc. (TSX VENTURE:SDS) ("Seair" or the "Company") is pleased to announce that in accordance with the terms of a trust indenture entered into between the Company and BNY Trust Company Of Canada ("BNY") dated as of October 31, 2012, as supplemented by the first supplemental indenture made effective October 31, 2013 as further supplemented by the second supplemental indenture made effective May 14, 2014, as further supplemented by the third supplemental indenture made effective December 21, 2015 and as further supplemented by the fourth supplemental indenture made effective September 13, 2016 (collectively, the "Indenture"), they have agreed to issue an aggregate of 1,959,590 common shares in the capital of the Company (the "Common Shares") to holders of the Company's 12% Secured, Subordinate, Convertible, Redeemable Debentures (the "Debentures") in satisfaction of an aggregate of $137,171.31 interest payable to holders of Debentures on December 31, 2016. The issuance of the Common Shares is being made pursuant to the Company's exercise of the share interest right (the "Share Interest Right") provided for in the Indenture. The Company first announced their exercise of the Share Interest Right on May 30, 2014. |
