04:10:23 EDT Mon 27 Mar 2023
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CA



American Aires applies for failure-to-file CTO lifting

2023-01-16 17:47 ET - News Release

Mr. Dimitry Serov reports

AMERICAN AIRES PROVIDES UPDATE ON CEASE TRADE ORDER

Further to the previous press releases of May 9, 2022, June 23, 2022, Aug. 2, 2022, Aug. 26, 2022, Sept. 21, 2022, Oct. 21, 2022, Nov. 3, 2022, and Dec. 6, 2022, American Aires Inc. filed a revocation application on Dec. 14, 2022, to revoke the failure-to-file cease trade order issued by the Ontario Securities Commission against the company dated May 6, 2022. The CTO 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.

In connection with the company's revocation application, the company received a comment letter from the OSC on Jan. 10, 2023, and is currently in the process of addressing the OSC's comments and requests. The company will provide further updates as they become available.

In addition, the company announces the resignation of Kristoffer P. Guajala as the chief operating officer of the company, effective Aug. 29, 2022. The company would like to thank Mr. Guajala for his contributions to the company and wish him well in his future endeavours.

About American Aires Inc.

American Aires is a 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. The American Aires Lifetune products specifically target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors and WiFi radiation, including the rapidly expanding next-generation high-speed 5G networks. American Aires is listed on the Canadian Securities Exchange under the ticker WIFI and on the OTCQB under the symbol AAIRF.

We seek Safe Harbor.

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