Atlas Engineered Announces Grant of Options

NANAIMO, BC, Aug. 21, 2024 /CNW/ - Atlas Engineered Products ("Atlas", "AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) announced today that it has granted a total of 1,393,000 incentive stock options to certain independent directors, executive officers, senior management, key employees, and key consultants in accordance with the Company's stock option plan.

400,000 of the options granted were granted to independent directors and 400,000 were granted to executive officers of the Company. Each option is exercisable to acquire one common share of the Company at a price of $1.30 per share, being the closing price of the Company's common shares on the TSX Venture Exchange on August 20, 2024. The options for the independent directors, executive officers, senior management, and key employees will vest and become exercisable in three equal tranches every 6 months over a period of 18 months from the grant date, and will expire on August 21, 2029. The options for the consultants will vest and become exercisable 12 months from the grant date, and will expire on August 21, 2029. 

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 and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators.

www.atlasengineeredproducts.com

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.