CALGARY, ALBERTA -- (Marketwired) -- 07/04/13 -- Seair Inc. (TSX VENTURE: SDS) ("Seair" or the "Company") has entered into a memorandum of understanding ("MOU") with a leading Calgary based engineering and fabrication company ("joint venture partner" or "JVCO"). The MOU sets out the terms of the joint venture and establishes JVCO as Seair's engineering, design and fabrication partner with an exclusive license to fabricate and market new and improved products that incorporates Seair's technologies with the JVCO's design, engineering and fabrication. The joint venture partner will also have the right to market and distribute the new and improved products to its customers through its existing channels in North America.
The MOU requires Seair and the joint venture partner to enter into a definitive agreement within the next 3 months, but allows them to commence design, engineering and fabrication work immediately under an agreed framework to capture near term opportunities for both companies.
Seair's CEO Ric Charron says, "This strategic joint venture represents a real turning point for Seair. It provides us with the closest thing possible to having our own seamless integration of design, engineering and fabrication capacity. Our new joint venture partner is unique in the Alberta oil field in that they are one of the few companies that do both engineering and fabrication. This advantage will allow Seair to dramatically accelerate its response and delivery time and give us the ability to deliver high quality products, predictable turnaround times and reliability to our customers. It will increase our customers' confidence in working with Seair to achieve solutions to their complex water problems. Having a dedicated partner that wants to seize business opportunities with us and accelerate the growth of both of our companies will be a huge asset. Our joint venture partner will be involved at the very early stages of discussions with customers, which means that we'll have the benefit of their design, engineering and fabrication from the outset. Seair will finally be in a position to provide a one-stop service to our customers, rather than having to deal exclusively with third party engineering firms. Our joint venture partner is recognized as one of Canada's fastest growing companies and brings the same philosophy for growth and customer service that Seair is committed to achieving. As a result of this joint venture, Seair will now have the capacity for quick response, superior design and fabrication capability. This will instantly expand Seair's customer base to deploy its technology as a result of this new joint venture. It's a tremendous step forward."
Seair Inc. (TSX VENTURE: SDS) develops proprietary technology and equipment that diffuses gases, such as oxygen, ozone and carbon dioxide, into liquids. 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. The process facilitates gas-based treatment of complex and challenging industrial wastewater and allows Seair to provide full water reuse and closed loop systems.
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. Seair is also working on a project for 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.
Seair is proud to be recognized as one of the Top 5 Cleantech companies in the TMX 2012 Venture 50.
Statement Regarding Forward-Looking Information
This news release of Seair contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Seair's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. 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. Forward-looking statements in this document include statements regarding Seair's expectations regarding the regulatory approval of the Offering, closing of the Offering and the use of proceeds from the Offering. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Seair's expectations. 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.
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.
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