Mr. Josh Bruni reports

AMERICAN AIRES INC. ANNOUNCES GRANT OF OPTIONS

American Aires Inc. has granted 10,000 stock options to an arm's-length consultant pursuant to an option agreement and the terms and conditions of the omnibus long-term incentive plan of the company. Each option vests immediately and is exercisable prior to July 6, 2026, to acquire one common share of the company at a price of 21 cents per share. The options (and any common shares issuable upon exercise thereof) will be subject to a four-month-and-one-day hold period pursuant to the policies of the Canadian Securities Exchange and applicable securities laws.

Early warning report disclosure

Further to the company's press release dated Oct. 19, 2023, Josh Bruni acquired control over 6,548,992 common shares of the company pursuant to a shares-for-debt settlement and 1.5 million common shares pursuant to the settlement of restricted share units. Prior to these acquisitions, Mr. Bruni did not hold any common shares. Following the acquisitions, Mr. Bruni exercised control over 8,048,992 common shares, representing 13.6 per cent of the issued and outstanding common shares on an undiluted basis (15.7 per cent on a partially diluted basis). In addition, Serov Holdings Inc. acquired control over 2,201,348 common shares pursuant to the debt settlement and 2.3 million common shares pursuant to the RSU issuance. Prior to these acquisitions, Serov Holdings exercised control over 3,973,000 common shares, representing 9.2 per cent of the issued and outstanding common shares on an undiluted and partially diluted basis. Following the acquisitions, Serov Holdings exercised control over 8,474,348 common shares, representing 14.3 per cent of the issued and outstanding common shares on an undiluted basis (17.5 per cent on a partially diluted basis). Neither Mr. Bruni, nor Serov Holdings currently has any plans to acquire or dispose of additional securities of the company. However, Mr. Bruni and/or Serov Holdings may acquire additional securities of the company, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions, depending on market conditions, reformulation of plans or other relevant factors.

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. 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 CSE under the ticker WIFI and on the OTCQB under the symbol AAIRF.

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