January 19, 2005
ATI AirTest Technologies Inc.
TSX Venture Symbol (AAT)
ATI AIRTEST AMENDS CONVERTIBLE LOAN OFFERING AND TERMINATES NON BROKERED PRIVATE PLACEMENT FOR SECURITIES
Vancouver: Mr. George Graham, the President of ATI AirTest Technologies Inc. (“AirTest”), a provider of sensor technologies for building applications, announces the non brokered private placement for securities announced April 8th, 2004 has been terminated due to lack of participation.
The convertible loan package (the “Offering”) announced May 20th, 2004 has been amended by increasing the amount of the Offering from $200,000 to $550,000. The Offering calls for interest payments at the rate of 1.5% per month to be made on all loans received. AirTest has the option to repay each loan at any time, but guarantees a minimum of three months interest in the event the loan is repaid in the first three months. All or part of the loan can be converted to shares at a price of $0.20 per share for a period of 12 months from the closing date of the Offering. A finders fee of 10% will be payable.
The Offering will only be made available to those investors who qualify as “Accredited Investors” as defined in Multilateral Instrument 45-103 and in making this Offering the Company and the qualified investors will rely on the “Accredited Investor Exemption” and therefore the Company will not be preparing an offering document.
Proceeds from the Offering will be used for general working capital by the Company.
This Offering is subject to the approval of the TSX Venture Exchange.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from the expected results.
For further information, please contact:
Mr. George Graham
Phone: (604) 517 3888
Fax : (604) 517 3900
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.