American Aires Inc. Announces Resignation of Director and Update on Annual General Meeting of Shareholders
American Aires (OTCQB: AAIRF) announced the resignation of Dimitry Serov from its Board of Directors ahead of the company's Annual General Meeting (AGM) scheduled for September 18, 2025. The resignation follows determinations made by the Special Committee regarding Serov's conduct as a director and officer, as disclosed in the August 29 press release.
The Board, which had already decided not to support Serov's re-election, will not appoint a replacement director at this time. The reconstituted Board will consist of Drew Green (Chairman and Independent Director), Josh Bruni (Director), and Jamie Cochrane (Independent Director). The company emphasized its commitment to accountability, strong governance practices, and stakeholder transparency.
American Aires (OTCQB: AAIRF) ha annunciato la dimissione di Dimitry Serov dal Consiglio di Amministrazione in vista dell'Assemblea Generale Annuale (AGM) prevista per il 18 settembre 2025. Le dimissioni derivano dalle determinazioni del Comitato Speciale riguardo la condotta di Serov come direttore e manager, come comunicato nel comunicato stampa del 29 agosto. Il Consiglio, che aveva già deciso di non sostenere la rielezione di Serov, non nominerà al momento un nuovo membro del consiglio. Il Consiglio rinnovato sarà composto da Drew Green (Presidente e Amministratore Indipendente), Josh Bruni (Consigliere) e Jamie Cochrane (Amministratore Indipendente). L'azienda ha sottolineato il proprio impegno per responsabilità, buone pratiche di governance e trasparenza verso gli stakeholder.
American Aires (OTCQB: AAIRF) anunció la renuncia de Dimitry Serov de su Junta Directiva de cara a la Junta General Anual (AGM) programada para el 18 de septiembre de 2025. La renuncia obedece a las determinations del Comité Especial sobre la conducta de Serov como director y directivo, tal como se divulgó en el comunicado de prensa del 29 de agosto. La Junta, que ya había decidido no respaldar la reelección de Serov, no designará a un nuevo director en este momento. La Junta reconstituta estará integrada por Drew Green (Presidente y Director Independiente), Josh Bruni (Director) y Jamie Cochrane (Director Independiente). La empresa enfatizó su compromiso con la rendición de cuentas, prácticas sólidas de gobernanza y transparencia hacia las partes interesadas.
American Aires (OTCQB: AAIRF)는 2025년 9월 18일로 예정된 연례 주주총회(AGM)를 앞두고 Dimitry Serov의 이사회 사임을 발표했습니다. 이번 사임은 Serov의 이사 및 임원으로서의 행실에 대한 특별위원회의 판단에 따른 것이며, 8월 29일 보도자료에서 밝혔습니다. Serov의 재선 지지를 이미 거부하기로 한 이사회는 현 시점에서 후임 이사를 선임하지 않기로 했습니다. 재구성된 이사회는 Drew Green 회장(독립 이사), Josh Bruni 이사, Jamie Cochrane 독립 이사로 구성됩니다. 회사는 책임성, 강한 거버넌스 관행, 이해관계자에 대한 투명성에 대한 약속을 강조했습니다.
American Aires (OTCQB : AAIRF) a annoncé la démission de Dimitry Serov du conseil d'administration à l'approche de l'Assemblée générale annuelle (AGA) prévue le 18 septembre 2025. Cette démission résulte des conclusions du comité spécial concernant le comportement de Serov en tant que directeur et dirigeant, telles que divulguées dans le communiqué du 29 août. Le conseil, qui avait déjà décidé de ne pas soutenir sa réélection, ne nommera pas de remplaçant pour le moment. Le conseil réorganisé sera composé de Drew Green (Président et administrateur indépendant), Josh Bruni (Administrateur) et Jamie Cochrane (Administrateur indépendant). L'entreprise a souligné son engagement envers la responsabilité, de solides pratiques de gouvernance et la transparence envers les parties prenantes.
American Aires (OTCQB: AAIRF) kündigte den Rücktritt von Dimitry Serov aus dem Aufsichtsrat vor der für den 18. September 2025 geplanten Hauptversammlung (HV) an. Der Rücktritt ergibt sich aus den Feststellungen des Sonderausschusses über das Verhalten von Serov als Director und Geschäftsführer, wie im Pressemitteilungs vom 29. August mitgeteilt. Der Vorstand, der bereits beschlossen hatte, Serovs Wiederwahl nicht zu unterstützen, wird derzeit keinen Ersatzdirektor ernennen. Der neu zusammengesetzte Vorstand besteht aus Drew Green (Vorsitzender und unabhängiger Direktor), Josh Bruni (Direktor) und Jamie Cochrane (unabhängiger Direktor). Das Unternehmen betonte sein Engagement für Rechenschaftspflicht, robuste Governance-Praktiken und Transparenz gegenüber den Stakeholdern.
American Aires (OTCQB: AAIRF) أعلنت استقالة ديميتري سيروف من مجلس إدارتها قبل اجتماع الجمعية العامة السنوي (AGM) المقرر عقده في 18 سبتمبر 2025. تأتي الاستقالة نتيجة لقرارات اللجنة الخاصة بشأن سلوك سيروف كمدير ومسؤول، كما ورد في البيان الصحفي الصادر في 29 أغسطس. المجلس، الذي كان قد قرر بالفعل عدم دعم إعادة انتخاب سيروف، لن يعين مديراً بديلًا في الوقت الحالي. سيتركّب المجلس المعاد تشكيله من درو غرين (الرئيس وعضو مستقل)، وجوش بروني (عضو مجلس الإدارة)، وجيمي كوكرين (عضو مستقل). شددت الشركة على التزامها بالمساءلة وممارسات الحوكمة القوية والشفافية تجاه أصحاب المصلحة.
American Aires (OTCQB: AAIRF) 宣布在计划于 2025 年 9 月 18 日召开的年度股东大会（AGM）之前，Dimitry Serov 已从董事会辞任。辞职基于特别委员会对 Serov 作为董事及高管行为的裁定，详见 8 月 29 日的新闻稿所披露的内容。董事会已决定不再支持 Serov 的连任，因此目前不拟任命替代董事。重组后的董事会将由 Drew Green（主席及独立董事）、Josh Bruni（董事）和 Jamie Cochrane（独立董事）组成。公司强调其对问责制、健全治理实践以及对利益相关者的透明度的承诺。
- Board's proactive approach in addressing governance issues
- Streamlined decision-making with smaller, focused board structure
- Continuation of AGM as scheduled without delays
- Director resignation due to conduct concerns
- Potential litigation and regulatory risks mentioned in forward-looking statements
- Uncertainty regarding intellectual property rights and manufacturing arrangements
Toronto, Ontario--(Newsfile Corp. - September 18, 2025) - American Aires Inc. (CSE: WIFI) (OTCQB: AAIRF) (the "Company") today announced that Mr. Dimitry Serov ("Mr. Serov") has resigned from the Board of Directors (the "Board") and advised that he will not be standing for re-election at the upcoming annual general meeting of shareholders (the "AGM"), scheduled for Thursday, September 18, 2025.
As previously disclosed in the Company's press release dated August 29, 2025, the Special Committee of the Board made certain determinations regarding Mr. Serov's conduct in his role as a director and officer. In light of those determinations, the Board had already concluded it could no longer support Mr. Serov's nomination for re-election. Mr. Serov's decision to resign has pre-empted the need for the Board to postpone the AGM or take additional steps to address Mr. Serov's nomination, thereby allowing the meeting to proceed as scheduled in the ordinary course. The Board considers his resignation to be in the best interests of the Company and its shareholders.
At this time, the Company does not intend to appoint a new director to replace Mr. Serov. Following his departure, the Board and Audit Committee will be comprised of Drew Green (Chairman and Independent Director), Josh Bruni (Director), and Jamie Cochrane (Independent Director). All proxies submitted in favour of the predecessor Board will be voted to elect the reconstituted Board. For more information on the AGM, please refer to the Company's management information circular filed on SEDAR+ and dated August 6, 2025.
The Board remains firmly committed to ensuring accountability, upholding strong governance practices, and maintaining transparency with all stakeholders.
The Company will continue to update shareholders and the market as material developments arise.
Company Contact:
Josh Bruni, CEO
Website: www.investors.airestech.com
Email: wifi@airestech.com
Telephone: (415) 707-0102
Forward-Looking Information
This press release contains forward-looking statements, including, without limitation, statements regarding: the implementation, timing and effectiveness of governance measures; the recovery of amounts under the Company's repayment demands, including the promissory note; the Company's ability to secure and enforce exclusive ownership of its intellectual property rights; the negotiation, execution and performance of manufacturing arrangements with Technano; and the anticipated benefits of these corrective actions for business continuity, governance oversight, and shareholder value.
Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual outcomes to differ materially from those expressed or implied. Such risks include, but are not limited to: the outcome of potential or actual litigation and regulatory proceedings; the enforceability of agreements with Mr. Serov, Technano or other related parties; the timing, validity and completeness of intellectual property transfers; Technano's compliance with manufacturing and pricing commitments; the availability, reliability and quality of product supply; and the Company's ability to rebuild governance credibility, restore stakeholder confidence, and protect shareholder value. Additional risks are described in the Company's continuous disclosure filings available under its profile on SEDAR+.
Forward-looking statements are made as of the date of this press release. The Company does not undertake to update any forward-looking statements, except as required by applicable securities laws.
No securities regulatory authority has approved or disapproved of the contents of this press release. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States absent registration or an applicable exemption. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or in any other jurisdiction where such offer, solicitation or sale would be unlawful. We seek safe harbour.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266922
FAQ
Why did Dimitry Serov resign from American Aires (AAIRF) Board of Directors?
Who are the current board members of American Aires (AAIRF) after Serov's resignation?
When is American Aires (AAIRF) 2025 Annual General Meeting?
Will American Aires (AAIRF) appoint a new director to replace Serov?
What governance changes is American Aires (AAIRF) implementing?
