Mr. Josh Bruni reports

AMERICAN AIRES ANNOUNCES PROPOSED OFFERING AND INITIAL CLOSING

American Aires Inc. has arranged a proposed non-brokered private placement for gross proceeds of up to $3-million through the issuance of up to 3,000 units at a price of $1,000 per unit. Each unit shall consist of: (i) one $1,000 principal amount secured convertible debenture of the company; and (ii) and 20,000 common share purchase warrants. The debentures shall bear interest at a rate of 12.0 per cent per annum, payable semi-annually in arrears on the last day of June and December in each year, with the first interest payment payable on June 30, 2023, and mature on June 30, 2025. The debentures will be convertible into common shares in the capital of the company at the market price of the common shares at the time of conversion, subject to the approval of the Canadian Securities Exchange in the event such price is below five cents, determined by the most recent closing price of the common shares on the day of conversion, at the option of the holder at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding the maturity date; and (ii) the date fixed for redemption. Each warrant shall entitle the holder thereof to acquire one common share at an exercise price of five cents until June 30, 2025. In addition, the debentures are secured by all of the assets of the company.

In connection with the offering, the company will pay registered dealers or finders a cash commission equal to 6 per cent of the aggregate gross proceeds from the sale of the units to a subscriber referred to the company by such registered dealer or finder.

The company also announces the completion of the first tranche of the offering. The company has raised gross proceeds of $325,000 through the issuance of 325 units. Pursuant to the first tranche of the offering, the company paid a finder's fee of $19,500. All securities issued pursuant to the offering are subject to a four-month hold period from the date of issue. Proceeds from the offering will be used by the company for working capital purposes and to further the business objectives of the company.

About American Aires Inc.

American Aires is a Canadian-based nanotechnology company committed to enhancing well-being and environmental safety through science-led innovation, education and advocacy. The company has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). The American Aires Lifetune products target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors and WiFi, including the more powerful and rapidly expanding 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.