Atlas Cloud Enterprises Inc. (the “Company”)(AKE:C) announces that it has arranged a loan in the amount of CAD$200,000.
The loan is for a period of one year, bearing interest at 10% per annum. Three directors of the Company are providing an aggregate 25% of the loan amount. Bonus shares equal to 20% of the loan amount, issuable at market price, will be payable to the lenders. The loan is subject to regulatory approval.
The proceeds of the loan will be used:
- to complete the BC Hydro upgrade to 1600 amp service currently in-process
- to complete of Phase I construction of the Atlas Tier 2 data centre
- for general working capital.
For further information please visit www.atlasdatacenter.ca.
On behalf of the Board,
Fred W. Stearman
Chief Executive Officer
ABOUT ATLAS CLOUD
Atlas Cloud is a start-up company which will carry on the active business of providing co-location and back-up/redundancy IT and telecom equipment, and Cloud computing, to small and medium businesses in Western Canada. Atlas Cloud will provide customers with secure power supply, cooling and bandwidth to ensure that 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.
For further information, contact the Company’s CEO, 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 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.