March 16, 2006
ATI AirTest Technologies Inc.
For Immediate Release
Trading Symbol AAT.V
Airtest Announces Financing and Debt Settlement
Vancouver B.C. Canada: Mr George Graham, President & CEO of ATI Airtest Technologies Inc. (“Airtest”) wishes to announce the Company is offering a non brokered private placement for securities for gross proceeds of up to $750,000. Pursuant to the terms of the private placement, the Company intends to issue up to 15,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share in the capital of the Company and one share purchase warrant. Each warrant will entitle the holder to buy one additional common share of the Company at a price of $0.10 per share for a period of 12 months from the date of 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 for general working capital purposes. The Private Placement is subject to the approval of the TSX Venture Exchange.
Mr. Graham has also negotiated a shares for debt arrangement with creditors, subject to the approval of the TSX Venture Exchange. The settlement will include debt of up to 4 million dollars and will be settled at a price of $0.10 per share.
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 contact:
Mr. George Graham 604 517 3888
Mr. Chris England 604 868 1000
Mr. Tony England 604 980 9600
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this