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Delta, British Columbia--(Newsfile Corp. - April 20, 2021) - AirTest Technologies Inc. (TSXV: AAT) (OTC: AATGF) (AirTest) CEO Ted Konyi is pleased to announce that Omni Marketing Group (OMG), a company controlled by AirTest Director Robert (Bob) Mebruer, has acquired 2.3mm units in a Private Placement financing. With this investment he now owns directly and indirectly, a total of 8,000,000 shares and 2,300,000 warrants.
Subject to TSX conditional approval, the proceeds of $276,000 will be used to advance marketing and sales initiatives for the company's wireless sensors. Terms of the placement are a unit offering of one share at $0.12 and a warrant to acquire a share at $0.20 good for 2 years from the closing date.
In addition to participating in the Private Placement, OMG is also entering into a joint marketing relationship with the company. OMG has extensive contacts in the grocery store industry and will be introducing AirTest and its products to its network of existing clients. Grocery stores represent a giant opportunity for AirTest, both domestically and internationally.
Ted Konyi commented that "Having Bob and OMG participate in this financing is a great vote of confidence for the future of AirTest. As a very successful businessman, with interests across 67 operating companies and active in 42 countries, Bob brings a wealth of business experience and contacts to AirTest."
"OMG's focus on the grocery store trade is a fantastic channel for AirTest to advance its sales initiatives with very warm introductions at the most senior levels. OMG's current client list includes day to day activity with over 75,000 grocery store locations globally. While the bulk of the stores are located in South East Asia, more recent growth for OMG has been in the North American and Central/Eastern European markets, which will augur well for AirTest."
"We look forward to working closely with OMG's sales and marketing resources in advancing the deployment of energy efficiency systems in the grocery store segment."
Bob Mebruer stated, "I have been involved with AirTest as an investor and Director for quite a few years and never have I felt more confident about the company's future and its direction. With the launch of the new wireless sensors that communicate with protocols used by the latest Building Management Systems (BMS), AirTest is now poised for substantial growth. OMG will bring additional strength to the marketing of AirTest's products on a global scale. We look forward to working with the team in developing these new markets for the company."
About Omni Marketing Group: Since 1993, OMG Group has been the strategic full-service partner in effective shopper marketing solutions working directly with leading retailers and marketers across Asia Pacific, Central/Eastern Europe, Canada and this year the Middle East will be added to the portfolio of market expansion.
With 42 Country branches and over 315 leading retail partners, the company has a very extensive reach in the retail marketing services trade, with particular exposure to the grocery industry.
About AirTest: AirTest Technologies is a Green-Tech company specializing in Demand Controlled Ventilation systems that improve commercial building operating efficiency and generate proven energy savings. The company has developed new wireless sensors with dynamic real- time communication and control technologies, which builds upon ten years of experience and thousands of installations amongst clients such as Lowe's, Shoppers Drug Mart and Ikea. Airtest solutions can also provide data on levels of Indoor Air Quality required by Schools, Retail Stores and Offices.
For further information, please contact:
Mr. George Graham, President
Investor Relations Contact Jeff Walker
The Howard Group Inc.
Toll Free: 1-888-221-0915
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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.airtest.com.
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