As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure.
There were three main areas of change in the amended financial statements and amended management discussion and analysis.
Firstly, the comparative information on the Statement of Financial Position at February 29, 2016 was changed from the information at February 28, 2015 to the information shown at the year end of May 31, 2015. Secondly, the insiders referred to as three directors was changed to identify them by name in Note 8 and 12 of the Amended Financial Statements and in the Related Party Discussion in the Amended Management Discussion and Analysis for the quarter ended February 29, 2016irdly, Thirdly, additional information was added on the Summary of Quarterly Results in the amended Management Discussion & Analysis for the period ended February 29, 2016.
The Amended interim Financial Statements and the Amended Management Discussion & Analysis have been filed on SEDAR.
On behalf of the Board,
Fred W. Stearman
Chief Executive Officer
ABOUT ATLAS CLOUD
Atlas Cloud is a start-up company carrying on the active business of providing co-locatiom and backup/redundancy IT, telecom equipment and Cloud computing to small and medium businesses in Western Canada. Atlas Cloud will provide customers with secure power supply, cooling and bandwith to ensure their co-location, back-up or Cloud systems have minimum risk of failure. It intends to become a leader in hybrid co-location and has defined its expansion plan for doing so with a focus on safe, secure, flexible data hosting.
The Cranium (“Cranium”), an entity that provides a co-working office for technology growth companies, is a wholly owned business segment. Cranium provides committed space to startup technology companies including desks, chairs, high speed internet, meeting rooms, relevant workshops and other office infrastructure. This structure allows start up companies to grow and compete in the technology sector. The “Company” will continue to run and build Cranium.
For further information, contact Fred Stearman at (778) 871-0357 or at [email protected].
FORWARD LOOKING INFORMATION
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainies. These forward-looking statements are subject to numerous risks and uncertainies, 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 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.