Mr. Josh Bruni reports

AMERICAN AIRES ANNOUNCES $2.5 MILLION NON-BROKERED PRIVATE PLACEMENT

American Aires Inc. intends to complete a non-brokered private placement offering of up to 16,666,667 units of the company at a price of 15 cents per unit for aggregate gross proceeds of up to $2.5-million. The company will have the option to increase the offering to 20 million units for aggregate gross proceeds of $3-million, depending on market conditions. Each unit will comprise one common share in the company and one common share purchase warrant being exercisable into one common share at a price of 25 cents per share for a period of 24 months from closing of the offering, provided that, in the event that the volume-weighted average trading price of the common shares on the Canadian Securities Exchange exceeds 40 cents for a period of 10 consecutive trading days, the company will have the right to accelerate the expiry date to 30 days following the date on which the company provides notice thereof to the holders of the warrants.

In connection with the offering, the company may: (i) pay to certain finders a cash fee equal to 7 per cent of the gross proceeds from subscribers that are introduced to the company by such finders; and (ii) issue to certain finders such number of units equal to 7 per cent of the number of units that are sold to subscribers introduced to the company by such finders. Each finder unit shall be on the same terms as the units sold in the offering.

The offering is subject to the approval of the CSE. The common shares and warrants will be subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws. The offering price was reserved through price protection filed with the CSE on Jan. 15, 2024. The offering is expected to close on or about Feb. 12, 2024, or such earlier or later date as the company may designate.

About American Aires Inc.

American Aires is a Canadian-based nanotechnology company committed to enhancing personal well-being and environmental safety through science-led innovation, education and advocacy. The company has developed, proved and commercialized proprietary silicon-based microchips that neutralize the harmful effects of electromagnetic radiation (EMR). American Aires's Lifetune products target EMR emitted by consumer electronic devices such as smart phones, computers, EVs (electric vehicles) and Wi-Fi modems, 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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