DELTA, BC / ACCESSWIRE / March 6, 2019 / George Graham, CEO and President of ATI AirTest Technologies Inc.
("ATI" or the "Company") (TSX-V: AAT), is pleased to announce that, further to the Company's news release of February 8, 2019, it
has closed the non-brokered private placement offering (the "Offering") of 15,000,000 units (each, a "Unit") at a price of $0.02
per Unit for gross proceeds of $300,000. The Company has previously disclosed its proposed use of proceeds in the News Release
dated January 23, 2019.
Each Unit is comprised of one common share (a "Share") in the capital of the Company and one non-transferable share purchase
warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share in the capital of the Company (a
"Warrant Share") at an exercise price of $0.05 per Warrant Share for a period of one year from the closing of the Offering.
All securities issued in connection with the Offering and the Shares that may be issuable on exercise of the Warrants are
subject to a hold period expiring four months and one day after the closing of the Offering.
Two insiders of the Company subscribed for a total of 850,000 Units under the Offering, which constituted a "related party
transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The issuance of securities to the insiders was exempt from the valuation requirement of MI 61-101
by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the
minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 on the
basis that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the
Company's market capitalization.
In connection with the Offering, the Company paid a cash commission in the amount of $22,000 to one finder.
None of the securities issued in the Offering have been, and none of them will be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
About ATI:
ATI AirTest Technologies Inc. is a Green-Tech company specializing in sensors that improve commercial building operating
efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last
ten years and comprise a growing second wave of energy saving technologies that are positioned to make a significant contribution
to the Sustainable Buildings Program. AirTest offers its products to leading-edge building owners, contractors and energy service
companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls
manufacturers who incorporate AirTest sensor components in their products.
For further information, please contact:
Mr. George Graham, President & CEO
Phone: (604) 517 3888
Fax: (604) 517 3900
Email: ggraham@airtest.com
Website: www.airtest.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: ATI AirTest Technologies Inc.