Mr. Josh Bruni reports
AMERICAN AIRES ANNOUNCES PRIVATE PLACEMENT
American Aires Inc. intends to complete a non-brokered private placement for gross proceeds of up to $2.5-million through the issuance of up to 50 million units at a price of five cents per unit. Each unit is composed of one common share in the capital of the company and one transferable common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share to be issued on the due exercise of the warrants at a price of five cents per warrant share for 24 months from the date of the closing of the private placement, subject to an acceleration event (as defined and described below). Should the closing price at which the common shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed 10 cents for 10 consecutive trading days at any time following the date of issuance, the company may accelerate the warrant term such that the warrants shall expire on the date which is 30 business days following the date a press release is issued by the company announcing the reduced warrant term.
A finder's fee may apply to a portion of the proceeds raised under the private placement of a cash commission equal to 8 per cent of the aggregate gross proceeds from the sale of the units under the private placement, and finders' warrants equal to 8 per cent of the number of units sold under the private placement, exercisable for units of the company. All securities issued pursuant to the private placement will be subject to a four-month hold period from the date of issue.
Proceeds from the private placement will be used by the company for working capital and for other general and administrative costs.
Closing of the private placement is subject to all customary regulatory and board approvals of the company.
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, Internet of things devices 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 OTC Pink under the symbol AAIRF.
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