Seair Inc. Concerned Shareholder/Creditors to Request Significant Amendments to Restructuring Proposal at April 26 Meeting

CALGARY, AB / ACCESSWIRE / April 25, 2017 / Legal One Securities & Corporate Law, acting on behalf of a group of concerned shareholders who are also unsecured creditors ("Concerned Shareholders") of Seair Inc. (SDS.V) ("Seair" or the "Corporation"), announces the Concerned Shareholders will attend the meeting of creditors of Seair tomorrow, scheduled for 12 p.m. at the Calgary offices of Fasken Martineau Dumoulin, to request that the restructuring proposal be amended to allow for a shareholder-led "white knight" group which includes VenX Ltd., and its owner Mr. Bertan Atalay (the "VenX Group") (see Press Release of the Concerned Shareholders filed April 17, 2017) to do the following:

1. Repay 100% of funds due to Seair's first-ranking secured creditor, 1979927 Alberta Ltd.;

2. Replace the first ranking secured creditor as Seair's interim working capital financier;

3. Grant the VenX Group a maximum 60 days to undertake due diligence in order to submit a structured capital investment of at least $5 million to reorganize, restructure and recapitalize the Corporation;

4. Repay 100% of funds due to the Corporation's remaining creditors;

5. Raise and/or provide immediate interim working capital;

6. Reconstitute the Board with independent members and Director nominees representing all stakeholders; and

7. Pursue a revised business strategy to monetize the Corporation's intellectual property assets with all relevant technical, engineering, executive and governance elements in place.

The Concerned Shareholders, along with the VenX Group, believe these amendments to the restructuring proposal are necessary to ensure:

1. Shareholder equity is preserved;

2. The Corporation's equity and intellectual property assets are fairly valued; and

3. Outstanding creditors are paid in full.

All creditors interested in hearing more about these proposed amendments are encouraged to attend.

ADDITIONAL INFORMATION

The information contained in this press release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable securities laws.

The address for Seair currently listed on its website is P.O. Box 94099 Elbow River Postal Outlet, Calgary, Alberta, T2S 0S4. To obtain a copy of this press release or for further information about the matters set out herein you may contact Nino Plava (403) 999-9916 or nplava@telus.net or Legal One Securities & Corporate Law, counsel to the Concerned Shareholders, at 403-613-5573.

NOT FOR DISSEMINATION OR RELEASE IN THE UNITED STATES

SOURCE: Corrine M. Fiesel Professional Corporation