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EDMONTON, May 2, 2012 /CNW/ - Seair Inc. (SDS:TSX Venture Exchange) is pleased to announce the appointment, subject to regulatory approval, of Mr. Earl Lewis to Seair's Board of Directors. Mr. Lewis has, for over 30 years, successfully built and grown profitable companies, with particular emphasis in the oil and gas services industry. He has held various senior management and Board of Director positions, including being the Founder, Director and CEO of Wellco Energy Services. After his tenure at Wellco, Mr. Lewis co-founded and was a Director and Chairman of Builders Energy Services Trust. After an initial public offering and a series of private company acquisitions, Builders eventually became Essential Energy Services with a current market capitalization exceeding $300 million.
Based in Calgary, Alberta, Mr. Lewis has a Bachelor of Math degree from the University of Waterloo and is a Chartered Accountant. In addition to serving as a director of Seair, Mr. Lewis will be assisting management on various strategic, business development and expansion initiatives.
Harold Kinasewich, President and CEO of Seair, states "having Mr. Lewis on the Seair team opens up a world of possibilities. Not only does he have extensive industry connections, but his track record of successful acquisitions and strategic business combinations should fuel a new stage of growth at Seair."
Seair also announces that a total of 400,000 incentive stock options have been granted to Earl Lewis and John Goetz, who was elected to the Board of Directors at Seair's Annual Meeting on April 11. The options are exercisable at $1.10 each and have a 5 year term.
Seair develops proprietary equipment that diffuses gases, such as oxygen, ozone and carbon dioxide, into liquids. Seair's patented technologies can produce extremely small bubbles which are more efficient than other diffusion technologies. The result is a stable condition, where gases remain in solution for extended periods of time, leading to increased productivity and lower operating costs. This, in turn, facilitates gas-based treatment of complex and challenging wastewater and allows Seair to provide full water reuse and closed loop systems.
Seair applications include frac and produced water treatment, efficient aeration of industrial ponds, mine dewatering, end-to-end sewage treatment for permanent residential communities and remote work camps, golf course irrigation and pond treatment, and oil sands/SAGD water solutions.
This news release contains forward-looking statements relating to the future operations of the Seair Inc. and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Seair Inc. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release are made as of the date of this news release, and Seair Inc. does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
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