Business
American Aires Announces Filing of Corrective Disclosure Pursuant to OSC Review
Toronto, Ontario--(Newsfile Corp. - March 2, 2023) - American Aires Inc. (CSE: WIFI) (OTCQB: AAIR...
About this update from American Aires, Inc.
[{"type":"text","content":"American Aires Announces Filing of Corrective Disclosure Pursuant to OSC ReviewToronto, Ontario--(Newsfile Corp. - March 2, 2023) - American Aires Inc. (CSE: WIFI) (OTCQB: AAIRF) (the \"Company\" or \"Aires\") announces that further to the review by the Ontario Securities Commission (\"OSC\") of the Company's continuous disclosure, and a subsequent request from OSC staff in connection therewith, the Company has made corrective disclosure with respect to the following documents:Management's discussion and analysis for the year ended December 31, 2021;Management's discussion and analysis for the period ended March 31, 2022;Management's discussion and analysis for the period ended June 30, 2022; andManagement's discussion and analysis for the period ended September 30, 2022.(Together, the \"MD&As\")Corrective disclosure was requested by OSC staff in connection with the Company's application to revoke the failure-to-file cease trade order issued by the OSC on May 6, 2022.For the purpose of making corrective disclosure, and in accordance with OSC Staff Notice 51-711 (Revised) - Refilings and Corrections of Errors (\"SN 51-711\"), the Company has filed revised versions of the MD&As on SEDAR providing additional details and clarifications with respect to the Company's business, operations, financial performance, recent events and trends, primary contracts, objectives and milestones. Certifications of interim and annual filings for each MD&A, as applicable, will also be filed by the Company as part of its corrective disclosure and in compliance with National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings.Furthermore, at the request of the OSC, on January 16, 2023 the Company filed material change reports relating to the appointment and resignation of certain officers and directors of the Company in late 2021 and throughout 2022.As a result of having to provide such corrective disclosures, the Company will be placed on the public list of Refiling and Errors in accordance with SN 51-711.About American Aires Inc. American Aires Inc. is a 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 accredited scientists and confirmed by...