May 20, 2004
ATI AirTest Technologies Inc.
TSX Venture Symbol (AAT)
ATI AIRTEST AMENDS PRIVATE PLACEMENT AND ANNOUNCES CONVERTIBLE LOAN
Vancouver: Mr. George Graham, the President of ATI AirTest Technologies Inc. (“AirTest”), a provider of sensor technologies for building applications, announces the private placement announced April 8th, 2004 has been amended to allow for a finder’s fee of 10% to be paid in conjunction with the offering of a non brokered private placement for securities in the amount of $450,000.00 (Cdn).
The issue will consist of 3,000,000 units priced at $0.15 per unit. Each unit consists of one common share in the capital of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.23 for a period of 1 year from the closing of the private placement.
Additionally the Company is offering a $200,000 convertible loan package with a guarantee of a minimum three months interest payments at a rate 1.5% per month. 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 this instrument. A finders fee of 10% will be payable.
The Company shall rely on the “Accredited Investor Exemption” and therefore will not be
preparing an offering document.
Proceeds from the private placement will be used for general working capital.
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.
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.