VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Atlas Cloud Enterprises Inc. (CSE:AKE) (XFRA:A49) (the “Company” or “Atlas Cloud”) wishes to advise that pursuant to a bulletin dated February 5, 2018, the Company has been halt traded pending completion of the Fundamental Change as deemed by the Canadian Securities Exchange (the “CSE” or “the Exchange”) as announced on January 2, 2018.
The development of the Company’s business to cryptocurrency mining was deemed a fundamental change under the policies of the Exchange and as a result, the Company will require approval of the Exchange and approval of the Company’s security holders. The Company will also be required to complete a disclosure document in support of the change of business.
The Company intends to seek security holder approval by way of a consent resolution.
The Company anticipates filing a final prospectus as its disclosure document within the next 5-10 business days and it is anticipated that, subject to the approval of the Exchange to the Fundamental Change, trading will resume.
As part of its commitment to continuous disclosure as a reporting issuer, copies of all filings and press releases can be found at www.sedar.com.
About Atlas Cloud Enterprises Inc.
Atlas Cloud Enterprises Inc. is a growth oriented, CSE-listed company focusing on the business of providing co-location and backup/redundancy IT, telecom equipment and cloud computing. Atlas Cloud will provide customers with secure power access, cooling and bandwidth to ensure co-located, back-up or Cloud systems offer minimum risk of failure. Furthermore, Atlas is focused on the blockchain sector and digital currency mining. Atlas Cloud aims to become the lowest-cost producer of digital currency mining and blockchain infrastructure. Atlas Cloud owns a facility currently undergoing preparations for use as a digital currency mining operation located in Electric City, WA. This location currently benefits from a dedicated low-cost energy source of 3.0 MW and the Company is seeking to significantly expand its operations with the development of additional facilities offering economical, high-yield energy infrastructure opportunities. Find out more at www.atlascloud.ca.
On behalf of the Board,
“Fred Stearman”
Fred Stearman, President & Director
Contact
Atlas Cloud Investor Relations
+1(778) 871-0357
info@atlascloud.ca
www.atlascloud.ca
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FORWARD LOOKING INFORMATION
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the future business operations of Atlas Cloud. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward- looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in the news release are made as of the date of this news release, and the Company does not undertake any obligations to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.