Mr. Dimitry Serov reports

AMERICAN AIRES PROVIDES UPDATE ON CEASE TRADE ORDER

Further to its press release of May 9, 2022, American Aires Inc. continues to work diligently to complete the filing of its audited annual financial statements, management's discussion and analysis, and certificates of the chief executive officer and chief financial officer, which were due to be filed on May 2, 2022, and the interim financial statements, management's discussion and analysis, and certificates of the chief executive officer and chief financial officer for the period ended March 31, 2022, which were due to be filed on May 30, 2022. The company anticipates that the annual continuous disclosure documents will be filed on or prior to July 29, 2022, and the interim continuous disclosure documents will be filed shortly thereafter.

The Ontario Securities Commission (OSC) issued a failure to file cease trade order (CTO) against the company on May 6, 2022, which orders that general trading, whether direct or indirect, of the securities of the company cease. A copy of the CTO has been posted to the OSC website. The company has experienced delays associated with the completion of its annual audit due to difficulties in obtaining third party shipping data from some of the company's fulfilment centres. The company is working with its auditor and third party fulfilment centres to conclude the process at the earliest possible time.

Following the filing of the continuous disclosure documents, the company will file a revocation application to revoke the CTO. The company will provide further updates as they become available.

About American Aires Inc.

American Aires is Canadian-based nanotechnology company which has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). The technology was developed by a team of highly accredited scientists and confirmed by independent third party validation, including peer-reviewed studies and publications in scientific journals.

We seek Safe Harbor.