DISCOVERY AIR INC 8.375 PCT DEBS T.DA.DB.A

RE:RE:RE:RE:RE:freefall

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Funny how the debentures dropped suddenly just before this news came out - tonight. Makes ya go hmm. ...................... DISCOVERY AIR ANNOUNCES PENDING ACQUISITION OF ADVANCED TRAINING SYSTEMS INTERNATIONAL Discovery Air Inc.'s Discovery Air Defence Services Inc., a wholly owned subsidiary of Discovery Air, plans to acquire Advanced Training Systems International Inc. ATSI is a U.S. airborne training services company based in Mesa, Arizona. It currently owns a fleet of ten (10) Douglas A-4 Skyhawk aircraft and offers airborne training services, including, among other services, tactical "Red Air" services, fighter lead-in training, electronic warfare, radar theory and other combat tactics. Although ATSI currently has minimal operations and revenues, it previously provided airborne training services to the U.S. Navy, U.S. Air Force and the Canadian Forces, and has also provided advanced operational test and evaluation services such as air-to-air refueling trials. Jacob Shavit, Discovery Air's President and Chief Executive Officer, stated: "We are delighted to add ATSI to the Discovery Air Group of Companies. We believe there is significant growth potential in the airborne training services market and are excited about becoming an industry leader." Completion of the transaction remains subject to the approval of ATSI's shareholders and other customary closing conditions. ATSI's largest shareholder, which owns approximately 85% of ATSI's issued and outstanding capital stock, has agreed to vote its shares in favor of the transaction in accordance with the terms of the agreement. Completion of the transaction was also subject to the receipt of approvals from the Committee on Foreign Investment in the United States (CFIUS) and the U.S. Department of State, both of which have been received. Discovery Air expects the transaction to close within the next 30 days. We seek Safe Harbor. © 2013 Canjex Publishing Ltd.