American Aires announces the closing of a private placement
TORONTO, May 28, 2021 (GLOBE NEWSWIRE) – American Aires Inc. (CSE: WIFI) (the “Company” or “Areas“) is pleased to announce the completion of a portion of its previously announced non-brokered private placement (the”Private placement“). The Company raised gross proceeds of $ 905,000 through the issuance of 6,033,333 common share units (“Units”) Of the Company at a price of $ 0.15 per unit. Pursuant to the closing, the Company paid finder’s fees of $ 47,250 and issued finder’s warrants exercisable for 315,000 units. All the securities issued within the framework of the private placement are subject to a holding period of four months from the date of issue. The proceeds of the private placement will be used by the Company for working capital and for other general and administrative expenses.
About American Aires Inc.
American Aires Inc. is a nanotechnology company that has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). The technology was developed by a team of highly credited scientists and backed up by independent third-party validation including peer-reviewed studies and journal publications. The technology specifically targets cell phones, computers, baby monitors, Wi-Fi radiation and general EMRs emitted by consumer electronics devices. Aires has launched a full line of consumer products under the “Airestech” brand for use on almost all consumer electronics. The company has adopted a global e-commerce and distribution platform that easily scales as sales increase. Since its launch in 2019, Aires has experienced exuberant growth. The company has aggressively developed its e-commerce platform, which is now capable of delivering up to 10,000 shipments per day, along with recent customer service center agreements. Strategically placed distribution centers have been secured to ensure prompt delivery worldwide (see RP January 31, 2020). With the launch of 5G networks around the world, we are seeing an increase in news, reports and leading healthcare organizations discussing the potential harms of EMR and the importance of identifying solutions to reduce these harmful rays. Aires products are the solution. Visit www.airestech.com for more information.
On behalf of the board of directors
Dimitry Serov, CEO
Email: [email protected]
Telephone: (905) 482-4667
Certain statements contained in this press release constitute “forward-looking information” as that term is defined in applicable Canadian securities laws. The words “may”, “would”, “could”, “should”, “potentially”, “will”, “seek”, “intend”, “plan”, “anticipate” “,” believe “,” estimate “,” expect “and similar expressions with respect to the Company, including the anticipated use of the proceeds of the Private Placement, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. These statements reflect the Company’s current views and intentions with respect to future events and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements that may be expressed or implied by such forward-looking information to differ from those described in this document if one or more of these risks or uncertainties materialize. Examples of these risk factors include, but are not limited to: credit; market (including stocks, commodities, currencies and interest rates); liquidity; operational (including technology and infrastructure); Reputation; Insurance; strategic; regulatory; legal; environmental; capital adequacy; the general commercial and economic conditions of the regions in which the Company operates; the company’s ability to execute key priorities, including business retention, strategic plans and the ability to attract, develop and retain key executives; The ability to implement business strategies and seize business opportunities; Disruption or attacks (including cyber attacks) on information technology, the Internet, network access or other voice or data communication systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; non-compliance by third parties with their obligations towards the Company or its subsidiaries; the impact of new laws and regulations in force, modifications or application thereof; a new business model; Dependence on key suppliers; the granting of permits and licenses in a highly regulated business; increased competition; changes in exchange rates; Increasing funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to continue operations; critical accounting estimates and changes to accounting standards, policies and methods used by the company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and the risks associated with COVID-19, including various recommendations, orders and actions by government authorities in an attempt to limit the pandemic, including travel restrictions, border closures, Non-essential business closures, quarantines, self-isolations, shelter-in-place and social distancing, market disruptions, economic activity, financing, supply chains and sales channels, and deterioration general economic conditions including a possible national or global recession; as well as the risk factors discussed or mentioned in the Company’s information documents filed with the securities regulatory authorities of certain provinces of Canada and available at www.sedar.com. If any factor unexpectedly affects the Company, or if the assumptions underlying the forward-looking information prove to be incorrect, actual results or events may differ materially from expected results or events. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. In addition, the Company assumes no responsibility for the accuracy or completeness of this forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company does not undertake any obligation to publicly update or revise any forward-looking information, other than as required by the Applicable law.
Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.