VANCOUVER, British Columbia, June 14, 2018 (GLOBE NEWSWIRE) — Atlas Cloud Enterprises Inc. (CSE:AKE) (XFRA:A49) (OTCPINK:ATLEF) (the “Company” or “Atlas Cloud”), an information technology service provider focused on becoming the lowest cost producer in the blockchain and digital currency mining sector, is pleased to announce that it has received conditional approval regarding its proposed change of business as previously announced January 2, 2018.
Final approval by the Canadian Securities Exchange to the proposed change of business is subject to the completion of any and all outstanding CSE application documentation and payment of fees pursuant to the policies of the exchange.
The Company intends to seek security holder approval by way of a consent resolution. A subsequent date for the resumption of trading will be determined upon confirmation of the conditions as outlined above having been met.
In related news, the Company announces the resignations of Matthew McKibbin, Chief Blockchain Officer, and Timothy Lewis, Chief Technology Officer, effective immediately. The Company thanks Mr. McKibbin and Mr. Lewis for their service and wishes them success in their future endeavours.
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 5.0 MW and the Company is seeking to significantly expand its operations with the development of additional facilities offering economical, high-yield energy infrastructure opportunities.
On behalf of the Board,
Charlie Kiser, Chief Executive Officer
The CSE does not accept responsibility for the adequacy or accuracy of this release.
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.