Mr. Josh Bruni reports

AMERICAN AIRES ANNOUNCES CONVERTIBLE DEBENTURE CONVERSIONS

American Aires Inc. holders of secured convertible debentures have converted an aggregate of $1,885,188 of principal and accrued and unpaid interest at a deemed price of nine cents per share, resulting in the issuance of an aggregate of 20,946,530 common shares of the company. All of the common shares issued remain subject to a hold period ranging from as early as Oct. 10, 2023, to as late as Jan. 26, 2024. Including the issuance detailed in this news release, there are now 37,606,576 common shares issued and outstanding.

Early warning report disclosure

The following disclosure by Birchtree Investments Ltd. is made pursuant to National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues). The chief executive officer of Birchtree (Vitaliy Savitsky) is the chief financial officer of the company.

Pursuant to the debenture conversions noted above, Birchtree has acquired 6,652,366 common shares. Immediately before the acquisition, Birchtree held, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 410,000 common shares and warrants exercisable for 1,881,000 common shares, representing 2.5 per cent of all of the issued and outstanding common shares on a non-diluted basis and representing 18.0 per cent of all of the issued and outstanding common shares assuming full exercise of Birchtree's warrants. Immediately after the acquisition, Birchtree holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 7,062,366 common shares and warrants exercisable for 1,881,000 common shares, representing 18.8 per cent of all of the issued and outstanding common shares on a non-diluted basis and representing 22.6 per cent of all of the issued and outstanding common shares assuming full exercise of Birchtree's warrants.

The common shares were acquired by Birchtree for investment purposes. Birchtree, an investment company listed on the Canadian Securities Exchange, may increase or reduce its investment in the company according to market conditions or other relevant factors.

A copy of the report to be filed with Canadian securities regulators in connection with the acquisition of the common shares by Birchtree can be obtained upon its filing by Birchtree under the company's profile on the SEDAR+ website or by contacting Birchtree at birchtreeinvestment@gmail.com.

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 Canadian Securities Exchange under the ticker WIFI and on the OTCQB under the symbol AAIRF.

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