DELTA, BRITISH COLUMBIA--(Marketwire - March 21, 2013) - AirTest Technologies (TSX VENTURE:AAT) is pleased to announce the Company is offering a non brokered private placement for securities for gross proceeds of up to $350,000. Pursuant to the terms of the private placement, the Company intends to issue up to 7,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share in the capital of the Company plus one warrant. The warrant will have a two year expiry from date of share issuance. For the first year following issuance, two warrants plus $0.10 will purchase one common share, and for the second year following issuance, two warrants plus $0.12 will purchase one common share.
Commissions or finder's fees will be paid pursuant to this Private Placement in accordance with the policies of the TSX Venture Exchange.
The Proceeds of the offering will be used for furthering the Company's product development program and in some part for general working capital purposes. The Private Placement 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 harbors 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.