Mr. Dimitry Serov reports

AMERICAN AIRES ANNOUNCES FILING OF ANNUAL FINANCIAL STATEMENTS, PROVIDES UPDATE ON CEASE TRADE ORDER AND RESIGNATION OF DIRECTOR

American Aires Inc., further to its previous news releases of May 9, 2022, June 23, 2022, Aug. 2, 2022, Aug. 26, 2022, Sept. 21, 2022, and Oct. 21, 2022, has filed its audited annual financial statements, the management discussion and analysis (MD&A), and the certificates of the chief executive officer and chief financial officer, which were due to be filed on May 2, 2022. The annual continuous disclosure documents can be accessed under the company's profile on SEDAR.

The company anticipates filing the interim financial statements, the MD&A, and the CEO and CFO certificates for the period ended March 31, 2022, which were due to be filed on May 30, 2022, and the interim financial statements, the MD&A, and the CEO and CFO certificates for the period ended June 30, 2022, which were due to be filed on Aug. 29, 2022, in due course.

The Ontario Securities Commission 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.

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

In addition, the company announces the resignation of Chris Irwin as a director of the company. The company would like to thank Mr. Irwin for his contributions to the company and wishes him the best in his future endeavours.

About American Aires Inc.

American Aires is a Canadian-based nanotechnology company that 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. The company's Lifetune products specifically target EMR emitted by consumer electronic devices such as cell phones, computers, baby monitors, Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. American Aires is listed on the Canadian Securities Exchange under ticker WIFI and on the OTCQB under the symbol AAIRF.

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