Company Announcements

NANAIMO, BC , May 23, 2024 /CNW/ - Atlas Engineered Products ("Atlas", "AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce a new strategic partnership with Westhaven Builders. This collaboration marks a significant milestone, as AEP is set to supply wall panels and engineered roof trusses for Westhaven Builders' upcoming senior living projects in Kimball, Michigan. The project, valued at approximately $800,000, is currently scheduled to commence in the Company's third quarter.

Westhaven Builders, an experienced general contractor in the United States, specializes in the construction of facilities across the hospitality, entertainment, retail, and healthcare sectors. With a diverse portfolio of projects across more than seven states, including Michigan and Texas. Westhaven Builders has established itself as an industry leader, currently managing over $146 million in projects.

"The success of projects such as this, could not be possible without partnerships like the one with AEP. We look forward to this new collaboration and are currently looking to work with them on many other projects across the US. The relationship between our engineered product vendor and our project managers is imperative for a smooth running project," said Dan Brennan, President of Westhaven Builders.

Hadi Abassi, CEO & President of AEP, also commented on the partnership stating, "We are excited and honoured to partner with Westhaven Builders, a company of such high caliber. This partnership showcases our capability to meet large-scale construction demands but also reinforces our strategic expansion in the U.S market. Together, we aim to deliver quality projects and solutions for our clients."

This project highlights the synergy between Atlas Engineered Products Ltd. and Westhaven Builders, paving the way for future collaborations.

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.

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. 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 year ended December 31, 2023. 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.

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.