Aether Announces Closing of Debt Settlement

Aether Global Innovations Corp. has completed the debt settlement transaction, pursuant to which the company settled outstanding indebtedness with certain creditors.

Under the debt settlement agreements, the company issued an aggregate of 2,848,544 common shares at a deemed price of 24 cents per share to settle outstanding debt in the aggregate amount of $683,650.

The company elected to satisfy the indebtedness through the issuance of shares in order to preserve its cash resources for continuing operations and strategic initiatives.

Insiders of the company were issued an aggregate of 487,087 shares under the debt settlement. Accordingly, the debt settlement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the securities issued to related parties under the debt settlement does not exceed 25 per cent of the company's market capitalization.

All securities issued in connection with the debt settlement are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

About Aether Global Innovations Corp.

Aether is an innovative UAV (unmanned aerial vehicle) drone management and operations services company that focuses on three areas for critical infrastructure and large public and private facilities: (i) drone management and surveillance monitoring; (ii) automation and integration for flight planning, new, innovative sensor payloads and stand-alone power sources; and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging and takeoff.

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