ATI Airtest Technologies Inc. Announces Private Placement

Delta, British Columbia--(Newsfile Corp. - August 5, 2020) -  AirTest Technologies (TSXV: AAT) intends to sell, on a non-brokered private placement basis, in one or more tranches, up to 25 million units at a price of 2 cents per unit for gross proceeds of up to $500,000. Each unit will consist of one common share in the capital of the company and one common share purchase warrant, with each warrant being exercisable into one common share at an exercise price of five cents for a period of two years from the date of issuance, subject to adjustment upon certain customary events. The expiry date of the warrants can be accelerated by the company at any time following the date that is four months and one day after closing of the private placement and prior to the expiry date of the warrants if the closing price of the common shares on the TSX Venture Exchange is greater than seven cents for any 10 non-consecutive trading days. The Company may pay a finder's fee in accordance with securities regulation and Exchange Policy.

The net proceeds from the private placement are intended to be used for working capital, research and development, and general corporate purposes.

The Offering is subject to approval from the TSX Venture Exchange. All Shares and Warrant Shares issued will be subject to resale restrictions imposed by applicable law or regulation.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Shares or Warrants in the United States. These securities have not been and will not 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: AirTest Technologies 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.

 Not for dissemination in the United States or to U.S. Persons

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