NANAIMO,
BC, March 9, 2023 /CNW/ - Atlas Engineered
Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF)
is pleased to announce their signing of a purchase order ("PO") for
both wall panels and engineered wood products ("EWP").
The total value of the purchase order is approximately
$1.6 million, with $850,000 of that being in wall panel sales.
During the nine months ended September 30,
2022, the Company had $108,356
in revenues from wall panels so this PO will represent a
significant growth in revenues for this product line for the
Company. Revenues from this PO will be recognized in financial
results as the product is shipped per revenue recognition
policies. This exciting opportunity represents a significant
milestone, as AEP expands their product base with wall panels while
maintaining their commitment to quality and craftsmanship.
"We are thrilled to receive this major purchase order as it
furthers our expansion in to the wall panel industry," said Hadi
Abassi, CEO & President, Founder. "This represents the next
step of our strategic expansion to become a quality multi-product
supplier to our customers by offering floor trusses, beams, roof
trusses, and now, wall panels, all while maintaining high levels of
customer service."
Atlas Engineered Products is poised for continued growth and
success, as they expand their horizons and explore new
opportunities in their industry.
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.
Forward Looking
Information
Information set forth in this news release contains
forward-looking statements. Forward-looking statements often, but
not always, are identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect", "targeting"
and "intend" and statements that an event or result "may", "will",
"should", "could", or "might" occur or be achieved and other
similar expressions. 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 three and nine months ended
September 30, 2022.
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. 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.