American Aires Inc. Responds to OTC Markets Request on Recent Promotional Activity
Toronto, Ontario--(Newsfile Corp. - April 16, 2021) - American Aires Inc. (CSE: WIFI) (the "Company") announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about promotional activity concerning its common stock.
On Tuesday, April 13, 2021, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, specifically the distribution of promotional emails by third-party service provider engaged by Emerging Markets Consulting, LLC ("EMC") discussing the harmful effects of electromagnetic radiation on the human body, the Company's products and potential ability of these products to reduce these harmful effects and to make the subscribers aware of the company's its products and opportunity. EMC is engaged by the Company on a project to project basis.
All the information published was reviewed by the company for accuracy and subsequently approved. EMC was engaged by the Company to provide content distribution. Each of the promotional e-mails distributed presented factual statements regarding the Company's products and indicated the Company's potential for growth. The Company provided EMC publicly available source information for the e-mail distribution and did have editorial control over the materials, including reviewing the materials for factual accuracy prior to their dissemination.
The Company does not believe the statements in the newsletters were false or misleading. The Company has been advised by OTC Markets that OTC Markets takes the position that aspects of the statements were overly promotional. The Company wishes to caution readers that these statements are speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company's public filings on SEDAR, its website and other reliable sources. The Company encourages investors to contact their investment advisors prior to making any investment.
Further, the Company understands this promotional activity may have coincided with increased trading activity in the Company's common shares beginning on or about April 13, 2021. The Company does not believe the promotional activities were a factor in the recent increase in trading volume in the Company's common shares. Instead, the Company attributes the increase to currently heightened investor interest in technology companies along with the general bull market run that has been occurring in the capital markets generally.
After an inquiry by management, none of the Company's executive officers, directors or, to the knowledge of the Company, any controlling shareholders sold or purchased shares of common stock of the Company within the past 90 days.
In the last twelve months, the Company has engaged EMC and Winning Media LLC to provide advertising and marketing services.
The OTC Markets has further requested that the Company state whether it has issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance. The Company has not.
About American Aires Inc.
American Aires Inc. ("Aires") is Canadian-based nanotechnology company which 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. Aires' 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. Aires is listed on the CSE under ticker 'WIFI'.
On behalf of the board of directors
For further information please contact:
Investor Cubed Inc.
Neil Simon, CEO
Phone: (647) 258-3310
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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