Delta, British Columbia--(Newsfile Corp. - September 30, 2020) - AirTest Technologies (TSXV: AAT) (OTC: AATGF) ("AirTest" or the "Company") announces today that it has cancelled all of the outstanding existing 3,165,000 stock options, all of which were set to expire on November 15, 2020. In addition, the Company has granted new stock options to purchase an aggregate of 7,240,00 common shares in its capital to certain directors, officers, employees and consultants of the company. Of this total, 3,400,000 were granted to the Company's Chief Executive Officer, who is also a director, and 500,000 were granted to each of two directors. An aggregate of 1,300,000 were granted to two other officers, an aggregate of 1,100,000 options were granted to two consultants and an aggregate of 440,000 options were granted to a total of six non-executive level employees.
All of the new stock options vest immediately and are exercisable for a term of five years from the date of the grant at an exercise price of five cents per share. All stock options were granted in accordance with the terms of the company's stock option plan and the policies of the TSX Venture Exchange and all are subject to a four-month-and-one-day hold period from the date of the grant, in accordance with applicable securities laws. Additionally, some of the stock options are subject to shareholder and TSX Venture Exchange approval.
AirTest Technologies (www.airtest.com) is a Green-Tech company specializing in sensors that improve commercial building operating efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last 10 years and comprise a growing second wave of energy saving technologies that will make a significant impact on making the large number of existing buildings green and sustainable. AirTest offers its products to leading-edge building owners, contractors and energy service companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls manufacturers who incorporate AirTest sensor components in their products.
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Legal Notice Regarding Forward-Looking Statement
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 (as that term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
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