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VANCOUVER, BC, Jan. 19, 2022 /CNW/ - Atmofizer Technologies Inc. (the "Company" or "Atmofizer") (CSE: ATMO) (Frankfurt: J3K) wishes to confirm that management is unaware of any material change in the Company's operations that would account for the recent and significant share price depreciation in the Company's common shares.
The Company has been informed by its advisers that sophisticated techniques including, but not limited to, spoofing, layering, wash trading, manipulation through multiple brokerage houses and/or the use of aggressive algorithms targeting the bid/offer designed to give the appearance of weakness in the trading price of Company's common shares may have been utilized.
The Company is concerned that there may be improper or illegal trading by those who may be short selling the Company's common shares and the Company has specifically asked regulators to investigate the trading.
Smaller market capitalization companies have been frequent targets of predatory short selling. Experts say that Canada's limited regulations around the practice have allowed abusive forms of short selling to flourish in the Canadian markets. Ontario's Capital Markets Modernization Task Force has targeted abusive short selling in its final report, which recommended measures that specifically target various forms of short selling, including naked short selling. The Company hopes that amendments to relevant legislation are implemented soon to provide regulators with the necessary authority to prevent these predatory selling techniques.
About Atmofizer Technologies Inc.
Atmofizer's consumer and industrial solutions are based on its patent-protected and patent pending technology for ultrafine particle agglomeration and neutralization. This capability creates a revolutionary and more efficient method for addressing the wide range of dangerous nano-scale particles, viruses and bacteria that are too small to be effectively managed by conventional HEPA filters and ultraviolet lights. Atmofizer plans to disrupt the air treatment industry by improving air safety and purification efficiency while lowering customers' operational costs.
Atmofizing air refers to the process of using ultrasonic acoustic waves to agglomerate (cluster together) small particles into a larger target that is then radiated by ultraviolet light to neutralize their harmful properties, making the air you breathe less hazardous to your health. Using units that atmofize air in tandem with HEPA filters can make the HEPA filters work more efficiently, enable the use of a less-powerful filter and result in a cleaner and longer-lasting filter that reduces operating costs and is less of a health hazard to clean or replace.
Atmofizer is patent-pending and patent-protected sole source of technology to atmofize air and is applying its proprietary technology in consumer and industrial air purification products currently manufactured under the Atmofizer brand, as well as in retail and commercial devices produced by other companies that integrate Atmofizer technology into their own products under license. Atmofizer's owned and licensed product lines include wearable, portable and mobile use for personal air treatment, as well as larger systems to handle higher air volumes for commercial, industrial, institutional and residential applications.
SOURCE Atmofizer Technologies Inc.
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