Mr. Paul Woodward reports

AETHER CATALYST SOLUTIONS, INC. ANNOUNCES CLOSING TRANCHE OF LIFE NON-BROKERED PRIVATE PLACEMENT

Aether Catalyst Solutions Inc. has closed a first tranche of its previously disclosed non-brokered private placement of units of the company. The tranche consisted of 10,095,332 units at a price of 7.5 cents per unit for aggregate gross proceeds of $757,150.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to acquire one additional share at an exercise price of 15 cents per share for a period of 18 months from the applicable closing date.

The tranche was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions (the LIFE exemption) and, therefore, any securities issuable under the LIFE exemption are not subject to a hold period in accordance with applicable Canadian securities laws. An offering document related to the offering is available under the company's profile at SEDAR+ and on the company's website.

In connection with the offering, the company paid aggregate cash commissions of $49,472 to eligible arm's-length finders, equal to 8 per cent of the gross proceeds raised from purchasers introduced by such finders, and issued an aggregate of 824,532 non-transferable common share purchase warrants to the same finders, equal to 10 per cent of the number of units sold to purchasers introduced by such finders. Each finder's warrant entitles the holder thereof to acquire one share at an exercise price of 7.5 cents per share for a period of 18 months from the date of issuance.

Both the warrants and the finders' warrants are subject to acceleration such that if, during a period of 10 consecutive trading days prior to their respective expiry dates, the daily volume-weighted average trading price of the shares on the Canadian Securities Exchange (the CSE) or such other stock exchange where the majority of the trading volume occurs, exceeds 30 cents for each of those 10 consecutive days, the company may, within 30 days of such an occurrence, give written notice to the holders of the warrants and the finders' warrants that the securities will expire at 5 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Any warrants or finders' warrants which remain unexercised at 5 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.

The company intends to use the proceeds of the offering to finance its continuing research activities, its joint development agreement project, its evaluation program with the Asian Tier 1 manufacturer, capital markets awareness and for general working capital purposes. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange.

About Aether Catalyst Solutions Inc.

Aether Catalyst Solutions is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst, while meeting, or exceeding, government emission standards. Aether is working to quickly advance its technology through rapid screening of new materials directed at enhancing end of life conversion levels after accelerated aging. While Aether's primary focus has been automotive applications, the company is also developing catalysts to address small motors emissions -- a significant contributor to urban air pollution.