Home News Filing of Annual Financial Statements, Status Update on Cease Trade Order, and Director’s Resignation From American Aires

Filing of Annual Financial Statements, Status Update on Cease Trade Order, and Director’s Resignation From American Aires

Filing of Annual Financial Statements, Status Update on Cease Trade Order, and Director’s Resignation From American Aires

American Aires Inc. (CSE: WIFI) (OTCQB: AAIRF) (the “Company” or “Aires”) announces that, further to its previous press releases of May 9, 2022, June 23, 2022, August 2, 2022, August 26, 2022, September 21, 2022, and October 21, 2022, the Company is pleased to announce that is has filed its audited annual financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the “Annual Continuous Disclosure Documents”) which were due to be filed on May 2, 2022.

The Company anticipates filing the interim financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer for the period ended March 31, 2022, which were due to be filed on May 30, 2022, and the interim financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer for the period ended June 30, 2022, which were due to be filed on August 29, 2022 (collectively, the “Interim Continuous Disclosure Documents”) in due course.

The Ontario Securities Commission (the “OSC”) issued a failure to file cease trade order (“CTO”) against the Company on May 6, 2022, which orders that general trading, whether direct or indirect, of the securities of the Company, cease. A copy of the CTO has been posted to the OSC website.

Following the filing of the Interim Continuous Disclosure Documents, the Company will file a revocation application to revoke the CTO. The Company will provide further updates as they become available.

In addition, the Company announces the resignation of Chris Irwin as a director of the Company. The Company would like to thank Mr. Irwin for his contributions to the Company and wishes him the best in his future endeavors.

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