Mr. Josh Bruni reports

AMERICAN AIRES INC. ANNOUNCES SHARE CONSOLIDATION

American Aires Inc. is proceeding with a consolidation of its issued and outstanding share capital on the basis of one new common share for every 10 outstanding common shares.

The company currently has 166,600,453 common shares issued and outstanding. Following the consolidation, the company will have approximately 16,660,045 issued and outstanding shares. No fractional shares will be issued under the consolidation, and any fraction will be rounded to the nearest whole number. The exercise or conversion price, and/or the number of shares issuable under any of the company's outstanding convertible securities, stock options and warrants will be proportionally adjusted after giving effect to the consolidation based on the consolidation ratio (1 to 10).

Subject to acceptance by the Canadian Securities Exchange, the shares are expected to begin trading on a postconsolidation basis on the CSE when markets open on Sept. 15, 2023. The record date for the consolidation will be one trading day later on Sept. 18, 2023. The company's name and trading symbol will not change, and the postconsolidation shares will have a new Cusip number (02377G204).

The consolidation was approved by the company's shareholders at its recent annual meeting held on May 31, 2023. Additional details about the consolidation can be found in the company's management information circular dated May 5, 2023, available at SEDAR+.

A letter of transmittal will be mailed to registered shareholders providing instructions on how to exchange share certificates representing preconsolidation shares for new share certificates or direct registration advice (DRS) representing postconsolidation shares to which they are entitled as a result of the consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the consolidation.

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). American Aires's 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 CSE under the ticker WIFI and on the OTC under the symbol AAIRF.

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