ATI Airtest Technologies Inc. has arranged a non-brokered private placement of up to 32 million units at a price of five cents per unit for gross proceeds of up to $1.6-million.

Each unit will be composed of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional share in the capital of the company for a period of 24 months from the closing date at an exercise price of eight cents, subject to the acceleration provision (as defined below), whereby the expiry of warrants issued may be accelerated in the event the daily trading price of the shares equals or exceeds 12 cents on the TSX Venture Exchange (or such other exchange on which the shares may be traded) for 10 consecutive trading days. Upon such an event, the company may accelerate the expiry date of the warrants by giving notice through a news release to the holders thereof, and, in such case, the warrants will expire on the 30th day after the date on which the news release is disseminated by ATI Airtest.

The company intends to use the proceeds from the financing for general working capital. Insiders may participate in the financing, and finders’ fees may be payable to eligible finders.

All securities issued in connection with the financing will be subject to a statutory hold period expiring four months and one day after closing. Completion of the financing is subject to the approval of the exchange. Any participation by insiders will constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

About ATI Airtest Technologies Inc.

ATI Airtest is a green-technology Internet of things company with proprietary sensor technologies that drive proven energy savings while simultaneously improving air control and quality in commercial and government structures. Over the past decade, ATI Airtest has installed thousands of wired systems in major chains such as Canadian Tire, Walmart, Shoppers Drug Mart and enclosed parkades. The company is now launching a new line of wireless technologies with improved capabilities and dynamics, which will reduce carbon emissions, increase air quality in a COVID-19 environment, and provide attractive energy and cost savings.

For further information, please contact:

Mr. Ted Konyi, CEO
Phone: (604) 225 2209
Fax :(604) 517 3900

Investor Relations Contact
Jeff Walker
Vice President
The Howard Group Inc.
Tel: 403-221-0915
Toll Free: 1-888-221-0915