American Aires files for $7.56M IPO on CSE

American Aires Inc. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO).

American Aires intends to raise $7,200,000 through the issuance of 24,000,000 common shares at $0.30 per share or $7,560,000 through the issuance of 25,200,000 common shares in the event an over-allotment option granted is exercised in full.

Richardson GMP Limited acts as the sole agent for the offering. Irwin Lowy LLP and Getz Prince Wells LLP act as legal counsel to American Aires and the agent respectively.

Vaughan, Ontario based American Aires Inc. is currently engaged in the business of production, distribution and sales of devices intended to protect persons from the harmful effects of electromagnetic emissions that are emitted by modern electronic devices.

Dimitry Serov, President of CEO, is the largest shareholder, indirectly controlling approximately 50% of 90,100,000 American Aires outstanding common shares.

photo credit: American Aires