ATLAS CLOUD CLOSES FINAL TRANCHE OF A PRIVATE PLACEMENT OF UNITS

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

 

Atlas Cloud Enterprises Inc. (the “Company” or “Atlas Cloud”) (CSE: AKE) is pleased to announce that, further to its news release dated December 13, 2017, it has closed its final tranche of a non-brokered private placement offering of 419,142 units (the “Units”) at a price of $0.35 per Unit for gross proceeds of approximately $146,699 (the “Offering”). Each Unit consists of one common share in the capital of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional Share at a price of $0.75 per Share until December 15, 2019.

No finder’s fees were paid in connection to the Offering in this tranche.

All Shares issued in connection with the Offering will be subject to a voluntary hold period until May 15, 2018, while the Warrants will be subject to a statutory hold period of four months plus one day from the closing date in accordance with applicable securities legislation.

On behalf of the Board, “Yana Popova

Yana Popova

Chief Financial Officer

For further information, contact the Company’s CFO, Yana Popova at (604) 328-5598 or at [email protected]

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.