https://www.stockwatch.com/News/Item/Z-C!WIFI-3142605/C/WIFI
American Aires closes second tranche of financing
2021-09-21 19:20 ET - News Release
Mr. Dimitry Serov reports
AMERICAN AIRES ANNOUNCES CLOSING OF PRIVATE PLACEMENT
American Aires Inc. has closed a second tranche of a non-brokered private placement through the issuance of 3,875,000 units at a price of 10 cents per unit for aggregate gross proceeds of $387,500. The net proceeds of the offering will be used by the company for working capital and for other general and administrative costs.
Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 15 cents per common share for a period of 24 months from the closing of the offering, provided, however, should the closing price at which the common shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed 30 cents for 10 consecutive trading days at any time following the date of issuance, the company may accelerate the warrant term such that the warrants shall expire on the date that is 30 business days following the date a news release is issued by the company announcing the reduced warrant term.
In connection with the offering, the company paid certain eligible persons a cash commission of $28,800 and issued 288,000 broker warrants. Each broker warrant entitles the holder thereof to acquire one unit at an exercise price of 10 cents for a period of 24 months from the closing of the offering and subject to the acceleration provision noted above.
All securities issued under the offering are subject to a four-month hold period in accordance with applicable securities laws.
About American Aires Inc.
American Aires is Canadian-based 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 confirmed by independent third party validation, including peer-reviewed studies and publications in scientific journals. The company's Lifetune products specifically target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors, Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. American Aires is listed on the Canadian Securities Exchange under ticker WIFI.
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