NANAIMO, BC, Jan. 4, 2022 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce that Melissa MacRae has been promoted from Interim Chief Financial Officer to Chief Financial Officer ("CFO") and Gurmit Dhaliwal has been promoted from Vice President of Operations to Chief Operating Officer ("COO").

Mrs. MacRae is a Chartered Professional Accountant who has been with AEP for almost 10 years. Her path within the company began as the in-house accountant, when AEP was a private entity, and since then she has honed her skills in strategy and financial leadership. These qualities have led to her consistent promotion to the positions of Group Controller, Director of Finance, Interim CFO, and now CFO (all within the public entity). Mrs. MacRae seamlessly blends her significant knowledge base of the industry with her accounting background which has proven invaluable for the past decade.

Ms. Dhaliwal has been with AEP for almost 20 years and has been instrumental in driving the growth of the company from a small private entity to a public company with a national footprint. She has proven herself to be a steadfast leader with strong business acumen and has a track record of making strategic and profitable decisions. These strong leadership and operational skills have resulted in her promotions from Operations Manager, at AEP's flagship location in Nanaimo, to Vice President of Operations, and now to COO. Ms. Dhaliwal is a results-oriented leader who has helped AEP achieve increased revenues, profitability, and productivity while developing and supporting the operational teams.

"I am very pleased to announce the promotions for Gurmit and Melissa. They have been an integral part of the AEP team and the results that AEP has been producing," said Hadi Abassi, CEO, President and Founder. "I feel confident AEP can tackle any obstacle the future may bring with the executive team we have in place now."

Grant of Options

AEP announces that the Company has granted a total of 425,000 incentive stock options to its executives and senior managers in accordance with the Company's stock option plan.  Each option is exercisable into one common share of the Company at a price of $0.60 per share, being the closing price of the Company's common shares on the TSX Venture Exchange on December 31, 2021.  The options will vest and become exercisable in equal 1/3 tranches every 6 months over a period of 18 months from the grant date and will expire on January 4, 2027. 

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.

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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