NANAIMO, BC, Oct. 8, 2020 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) announces that the Company intends to extend the exercise period of 5,165,000 share purchase warrants (the "Warrants") issued in 2018.
AEP issued the Warrants in connection with its private placement financing completed in two tranches in October and December of 2018. The Warrants are exercisable at a price of $0.60 per share for a term originally set to expire two years from the date of issuance. 4,748,750 of the Warrants were set to expire on October 31, 2020, and 416,250 of the Warrants were set to expire on December 3, 2020. The Company is proposing to extend the expiry dates for the these Warrants by one (1) year, with the new expiry dates for the Warrants proposed as follows:
The 4,748,750 Warrants originally set to expire on October 31, 2020 will have their exercise period extended to October 31, 2021.
The 416,250 Warrants originally set to expire on December 3, 2020 will have their exercise period extended to December 3, 2021.
All other terms and conditions of the Warrants will remain unchanged. The extension of the exercise period for the Warrants is subject to acceptance by the TSX Venture Exchange.
About Atlas Engineered Products Ltd.
AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively, giving us a unique opportunity to consolidate a fragmented industry of independent operators.
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: Risks and uncertainties relating to AEP, including those to be described in the Management's Discussion and Analysis ("MD&A") for AEP's year ended December 31, 2019 and for the interim period ended June 30, 2020. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Atlas Engineered Products Ltd.
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