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ATI AirTest Announces Cease Trade Order and Suspension of Trading

V.AAT

Delta, British Columbia--(Newsfile Corp. - May 11, 2022) - AirTest Technologies Inc. (TSXV: AAT) (OTC Pink: AATGF) ("ATI" or the "Company") reports that the British Columbia Securities Commission (the "BCSC") issued a cease trade order (the "CTO") dated May 6, 2022 because the Company failed to file its audited annual financial statements for the year ended December 31, 2021, together with the related management's discussion & analysis and CEO and CFO certifications (collectively, the "Annual Filings") on or before May 2, 2022. On May 10, 2022, the TSX Venture Exchange (the "TSXV") notified the Company that it had suspended trading in the Company's securities as a result of the issuance of the CTO, and that this suspension will remain in effect until the BCSC revokes the CTO and the TSXV has concluded a reinstatement review.

The cause of the delay in filing the Annual Filings is not material to the Company or its operations and is due primarily to the Company's auditor needing more time to complete the required procedures. The Company expects to file the Annual Filings in the next few days.

A copy of the CTO can be found on the BCSC's website at www.bcsc.bc.ca.

For further information, please contact:

Mr. Ted Konyi, CEO

Phone: (604) 225 2209
Fax :(604) 517 3900
Email: ted.konyi@airtest.com
Website: www.airtest.com

Legal Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the Company's expectation that it can file the Annual Filings in the next few days.. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.airtest.com.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123719