AirTest Completes $500,000 Private Placement Additional Capital to Aid in COVID Related Sales
Delta, British Columbia--(Newsfile Corp. - December 10, 2020) - Airtest Technologies Inc. (TSXV: AAT) (OTC: AATGF) ("Airtest" or the "Company") President George Graham is pleased to report that the financing announced October 9, 2020, has now been fully subscribed. Proceeds of $500,000 will be used for inventory, increased marketing and general working capital.
The Company had significant interest in the financing and chose to limit the financing to $500,000 to limit share dilution. With this additional capital the Company should be able to pursue a more aggressive sales strategy.
George Graham said, "While the pandemic has deferred some sales, as installations were impacted by lockdowns, the advent of multiple vaccines should see a gradual return to normal and the Company anticipates that sales will accelerate."
About Airtest Technologies Inc. is a Green-Tech company specializing in sensors that allow commercial buildings to measure CO2 and manage ventilation, thereby reducing heating and cooling costs. Airtest has developed wireless sensors that change the economic paradigm for building owners resulting in tremendous energy and financial savings with rapid payback. AirTest offers its products to 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
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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 belief in the energy savings that can be achieved through installation of the Company's products and that these installations lead to reduced maintenance, downtime expenses, future cost savings, and improvements in the bottom line. 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.smartcool.net.
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