VANCOUVER, June 3, 2011 /PRNewswire/ - AirTest Technologies (TSXV: AAT) is pleased to announce the Company is offering a non brokered private placement for securities for gross proceeds of up to $400,000. Pursuant to the terms of the private placement, the Company intends to issue up to 8,000,000 units at a price of $0.05 per unit. Each unit will consist of one (1) common share in the capital of the Company and will include one (1) warrant that can be exchanged for one (1) common share at an exercise price of $0.10 for a period of 24 months following the closing of the private placement.
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 to support new product development. 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 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. SOURCE AirTest Technologies Inc.