American Aires Inc. Announces Grant of Options

Toronto, Ontario--(Newsfile Corp. - November 24, 2023) - American Aires Inc. (CSE: WIFI) (OTC Pink: AAIRD) ("Aires" or the "Company"), a pioneer in EMF modulation technology, is pleased to announce that the Company has granted 10,000 stock options (each an "Option") to an arm's length consultant pursuant to option agreement and the terms and conditions of the omnibus long-term incentive plan of the Company. Each Option vests immediately and is exercisable prior to July 6, 2026 to acquire one common share of the Company at a price of $0.21 per share. The Options (and any Common Shares issuable upon exercise thereof) will be subject to a four month and one day hold period pursuant to the polices of the CSE and applicable securities laws.

Early Warning Report Disclosure

Further to the Company's press release dated October 19, 2023, on October 27, 2023, Josh Bruni acquired control over 6,548,992 common shares of the Company ("Common Shares") pursuant to a shares for debt settlement (the "Debt Settlement") and 1,500,000 Common Shares pursuant to the settlement of restricted share units (the "RSU Issuance"). Prior to these acquisitions, Mr. Bruni did not hold any Common Shares. Following the acquisitions, Mr. Bruni exercised control over 8,048,992 Common Shares, representing 13.6% of the issued and outstanding Common Shares on an undiluted basis (15.7% on a partially-diluted basis). In addition, Serov Holdings Inc. acquired control over 2,201,348 Common Shares pursuant to the Debt Settlement and 2,300,000 Common Shares pursuant to the RSU Issuance. Prior to these acquisitions, Serov Holdings Inc. exercised control over 3,973,000 Common Shares, representing 9.2% of the issued and outstanding Common Shares on an undiluted and partially-diluted basis. Following the acquisitions, Serov Holdings Inc. exercised control over 8,474,348 Common Shares, representing 14.3% of the issued and outstanding Common Shares on an undiluted basis (17.5% on a partially-diluted basis). Neither Mr. Bruni nor Serov Holdings Inc. currently has any plans to acquire or dispose of additional securities of the Company. However, Mr. Bruni and/or Serov Holdings Inc. may acquire additional securities of the Company, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions, depending on market conditions, reformulation of plans or other relevant factors.

About American Aires Inc.
American Aires Inc. is a Canadian-based nanotechnology company committed to enhancing well-being and environmental safety through science-led innovation, education, and advocacy. The company has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). Aires' Lifetune products target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors, and Wi-Fi, including the more powerful and rapidly expanding high-speed 5G networks. Aires is listed on the CSE under the ticker 'WIFI' and on the OTC QB under the symbol 'AAIRF'. Learn more at www.airestech.com.

On behalf of the board of directors

Company Contact:
Josh Bruni, CEO
Website: www.airestech.com
Email: wifi@airestech.com
Telephone: (415) 707-0102

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.sedarplus.ca. 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. The Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.

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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