TORONTO, ONTARIO--(Marketwired - Mar 6, 2017) - Discovery Air Inc. ("Discovery Air" or the "Company") DA announced, at the request of Market Surveillance on behalf of the TSX, that the Company has been approached on a preliminary basis regarding a potential corporate transaction. The Company has not received a binding proposal and is in discussions as to the viability of such potential transaction.

There can be no assurances that a definitive transaction will result from any such proposal, and there may be limited available alternative transactions having regard to the Company's current ownership structure. The Company does not intend to comment further upon any potential corporate transaction, or alternative thereto, unless and until it deems further disclosure is appropriate, or required by law.

Forward-Looking Statements

Certain statements included above are forward-looking in nature. Such statements can be identified by the use of forward-looking terminology such as "expects," "may," "will," "should," "intend," "plan," or "anticipates" or the negative thereof or comparable terminology. Forward-looking statements include plans, expectations, or other statements that are not statements of fact, including with respect to any corporate or similar transaction and alternative thereto. Although Discovery Air believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Discovery Air's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Discovery Air makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law.

About Discovery Air

Discovery Air is a global leader in specialty aviation services. We deliver exceptional air combat training, medevac equipped aircraft services, airborne fire services, air charter services, helicopter operations, and transport and logistics support to ensure operational readiness, health, safety and vital lifelines for our clients and the communities we serve.

Discovery Air Fire Services Inc. currently provides, and has provided for almost three decades, aerial fire surveillance, airspace and aircraft management, and air transport services in support of the Ontario government's forest fire management program. As well, DAFS' provides court-related air transport services to a variety of provincial government agencies which operate in northwestern Ontario (carried on by DAFS' charter division, Walsten Air).

Discovery Air's Class A common voting shares and unsecured convertible debentures trade on the Toronto Stock Exchange (symbols DA.A and DA.DB.A, respectively).