ATI Airtest Technologies Inc. has arranged a non-brokered private placement of up to 8,333,333 units at a price of 12 cents per unit for gross proceeds of up to $1-million. Each Unit will be comprised of one common share in the capital of the Company (each, a “Share”) and one non-transferable share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Company (each, a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.20, subject to an acceleration provision of the Issuer whereby, in the event that the Issuer’s common shares trade above $0.30 on the TSX Venture Exchange for a period of 10 consecutive trading days, the warrants will terminate on the date that is 30 days following receipt of a call notice in the event the holder has not exercised the warrants by such date. Insiders may participate in the Financing.
Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”).
All securities will be subject to a four-month hold period from the closing date. The Financing is subject to Exchange approval.
The Company intends to use the proceeds from the Financing for general working capital.
About ATI Airtest Technologies Inc.
ATI Airtest Technologies is a green-tech 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, 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.
We seek Safe Harbor.