American Aires Inc. Announces Grant of Options

About this update from American Aires, Inc.

[{"type":"text","content":"American Aires Inc. Announces Grant of OptionsToronto, 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 DisclosureFurther 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 co...

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