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AirTest Oversubscribes $1,000,000 Private Placement

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Newsfile Corp.
·3 min read
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Closes on $1,191,232

Delta, British Columbia--(Newsfile Corp. - March 31, 2021) - Airtest Technologies Inc. (TSXV: AAT) (OTC: AATGF) (the "Company") CEO Ted Konyi is pleased to report that the financing announced March 2, 2021, has now been oversubscribed. Subject to TSX conditional approval, proceeds of $1,191,232 will be used for inventory, research & development and general working capital.

The Company is now financially prepared to capitalize on the increased activity for its products due to heightened awareness and government guidelines for Indoor Air Quality.

Ted Konyi said, "The world of HVAC has changed and the attention to Indoor Air Quality has never been more prominent. This has created completely new markets for the Company's solutions. With the additional financial resources provided through this financing, the Company plans on increasing its sales and marketing staff in order to capture the demand that has been created. Already, the Company is in discussions with several multilocation retailers about deploying pilot projects to confirm both efficacy and economic benefit. Additionally, the School and Municipal markets are beginning to adhere to new government guidelines requiring measurement of Indoor Air Quality. Prospects for the Company have never been stronger, and we fully intend on capturing a large part of this new and burgeoning market for our solutions."

About ATI: AirTest Technologies is a Green-Tech company specializing in Demand Control 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 provide data on levels of Indoor Air Quality required by Schools, Retail Stores and Offices.

For further information, please contact:

Mr. George Graham, President

Phone: (604) 517 3888
Fax :(604) 517 3900
Email: ggraham@airtest.com
Website: www.airtest.com

Or

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

Legal Notice Regarding Forward Looking Statements

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79014