Mr. Josh Bruni reports

AMERICAN AIRES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

American Aires Inc. has closed a non-brokered private placement of units through the issuance of 7,844,000 units at a price of five cents per unit for aggregate gross proceeds of $392,200.

Each Unit is comprised of one (1) common share in the capital of the Company ("Common Share") and one (1) Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire one (1) Common Share at a price of $0.05 per Common Share for twenty-four (24) months from the date of closing of the Offering (the "Warrant Term"). 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 $0.10 for 10 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term (the "Reduced 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.

Gross proceeds of the Offering will be used for working capital and general corporate purposes.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The Company may close additional tranches of the Offering subject to all required regulatory approvals.

In connection with the closing of the first tranche of the Offering, the Company paid certain eligible persons a cash commission of $23,076 in the aggregate and issued 459,520 broker warrants ("Broker Warrants"). Each Broker Warrant entitles the holder thereof to acquire one Unit at a price of $0.05 per Unit for a period of two (2) years from the date of issuance. Broker Warrants are subject to the Reduced Warrant Term.

About American Aires Inc.

American Aires Inc. 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. Aires' Lifetune products specifically target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors, and Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. Aires is listed on the CSE under the ticker 'WIFI' and on the OTC Pink under the symbol 'AAIRF'. Learn more at www.airestech.com.

We seek Safe Harbor.