Atlas Engineered Products Announces Realignment of Executive Team

May 16, 2019

Nanaimo, British Columbia – Atlas Engineered Products (“AEP” or the “Company”) (TSX-V: AEP; OTC Markets: APEUF) is providing a corporate update on the realignment of its executive team and the resignation of its Chief Financial Officer (“CFO”), William (Bill) Woods.

Since going public on November 6, 2017, AEP has grown its Canadian footprint to six plants operating in British Columbia, Manitoba and Ontario. AEP has taken great care to remove costs, strengthen the financial position of the business and establish a talented leadership team consisting of experienced individuals with proven ability to drive operational performance.

As part of this ongoing process, AEP has re-aligned its executive team to add a stronger emphasis to its operations and growth plans across the organization:

  • Hadi Abassi has been appointed Executive Vice President, Strategic Business Development. Hadi is founder of AEP. Hadi will have a wide overarching role in assessing and evaluating sales and revenue opportunities for AEP.
  • Brittany Ray-Wilks has been appointed Executive Vice President, Organizational Development. Brittany has held numerous positions within AEP and will oversee a portfolio comprising of HR, IT, Legal, Marketing and Communications.
  • Lindsay Boeve has been appointed Vice President, Operational Excellence. Lindsay was previously the President of AEP’s most recent acquisition, South Central Building Systems. Lindsay’s new position with AEP will focus on increasing plant productivity and efficiency across all of AEP’s operations.
  • Gurmit Dhaliwal has been appointed Vice President, Operations. Gurmit was previously the Operations Manager at AEP’s Nanaimo subsidiary, Atlas Building Systems and has more than 17 years of industry experience. Gurmit will have oversight on effectively executing on AEP operational requirements across the organization.

Collaboratively, this high-quality team is focusing on best in class organizational development, standardized best practices, dedicated sales outreach, cost efficiencies and extended product mix.

AEP is also announcing the resignation of William (Bill) Woods as CFO. AEP thanks Bill for his contributions to AEP’s successes to date. AEP has appointed Melissa MacRae to serve as the Company’s Interim CFO.

Melissa is a CPA, CA who has been with Atlas Building Systems, an AEP Company, since 2012, and has acted as AEP’s Group Controller since the Company went public in November 2017. While working as Group Controller, Melissa has been an integral part of AEP’s accounting and finance functions.

Dirk Maritz, CEO of AEP, commented, “On behalf of the Company, I would like to thank Bill for his contributions to our success since going public and wish him every success in his future roles. I look forward to working with Ms. MacRae as Interim CFO.”

About Atlas Engineered Products Ltd.

AEP, newly listed on the TSX:V as of November 2017, is acquiring and operating profitable, well-established operations in Canada’s truss and engineered products industry. AEP has a well-defined and disciplined acquisition and operating strategy enabling the Company to scale aggressively, giving AEP a unique opportunity to consolidate a fragmented industry of independent operators.

For further information please contact:

Atlas Engineered Products Ltd.
Dirk Maritz, CEO & President

Phone: 1-250-754-1400

Email: info@atlasep.ca

Unit 102, 6551 Aulds Road

Nanaimo, BC V9S 5X9

www.atlasengineeredproducts.com

For investor relations please contact:

Rob Gamley

Phone: 1-604-689-7422

Email: rob@contactfinancial.com

Contact Financial Corp.

810 – 609 Granville St.

Vancouver, BC V7Y 1G5

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. The Company 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 the Company’s control. Such factors include, among other things: Risks and uncertainties relating to the Company, including those to be described in the Annual Information Form filed by the Company on June 1, 2018 and the Management’s Discussion and Analysis (“MD&A”) for the Company’s seven-month year ended December 31, 2018 filed on April 29, 2019., both on www.sedar.com. 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, the Company 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.