Discovery Air Inc. Announces Extension of Operating Credit Facility with CIBC

TORONTO, ONTARIO--(Marketwired - Dec. 15, 2017) - Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.DB.A) announced today that it has extended its operating credit facility with the Canadian Imperial Bank of Commerce (the "CIBC Operating Facility") for a term ending January 31, 2019 (which may be accelerated in certain circumstances).

Discovery Air Defence Services Inc. and its subsidiaries are no longer obligors under the CIBC Operating Facility.

Additional details can be found on SEDAR at www.sedar.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements made in this press release are forward-looking statements (as defined in applicable securities laws).

Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. For a description of relevant assumptions and risks, please consult Discovery Air's 2017 Annual Information Form dated April 13, 2017, and Discovery Air's 2017 MD&A for the Three-Month and nine-Month Period ended October 31, 2017, all filed with the Canadian provincial securities regulatory authorities (available at www.sedar.com) and which are also available on Discovery Air's website at www.discoveryair.com. The forward-looking statements contained in this press release describe our expectations as of the date hereof, and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.

About Discovery Air

Discovery Air is a global leader in specialty aviation services. We deliver exceptional medevac equipped aircraft 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's unsecured convertible debentures trade on the Toronto Stock Exchange (symbol DA.DB.A).