AEP Finalizes Multi-Year Supply & Purchasing Agreement for Engineered Wood Products in Eastern Canada

NANAIMO, BC, Oct. 31, 2019 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSX-V: AEP; OTC Markets: APEUF) is pleased to announce an agreement with Gillfor Distribution Inc. ("Gillfor") for the supply and purchase of engineered wood products (EWP) for all AEP's Eastern Canadian operations. The agreement includes competitive pricing, free bulk shipping, and technical and software support services.

"This agreement secures and consolidates EWP supply across our eastern region and guarantees a reliable supply of quality products for our customers," explained AEP President & CEO Dirk Maritz. "We are excited to work with the Gillfor team to develop the full range of products required to be competitive in the modern wood construction market. This agreement has the potential to generate significant market penetration and revenue growth for AEP through our expanded basket of products and solutions for these markets."

Gillfor is a leading independent wholesale distributor of building materials with 6 distribution centres ensuring consistent supply for our Eastern operations. The agreement includes Laminated Veneer Lumber ("LVL") products, I-joists and LSL pre-cut studs. Gillfor's distribution system allows them to effectively service large projects, regional markets and local communities.

"This agreement reflects our core objectives," said Gillfor VP of Sales David Varallo. "To provide our customers timely access to products, to offer top-quality materials and brands, and to ensure efficient deliveries."

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, giving us a unique opportunity to consolidate a fragmented industry of independent operators.

Forward Looking Information

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. The Company 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 the Company's control.  Such factors include, among other things: Risks and uncertainties relating to the Company, including those to be described in the Management's Discussion and Analysis ("MD&A") for the Company's three and six months ended June 30, 2019.  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, the Company 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.

Atlas Engineered Products Ltd., Dirk Maritz, CEO & President, Phone: [phone], Email: [email protected], Unit 102, 6551 Aulds Road, Nanaimo, BC V9S 5X9, www.atlasengineeredproducts.com; For investor relations please contact: Rob Gamley, Phone: [phone], Email: [email protected], Contact Financial Corp., 810 - 609 Granville St., Vancouver, BC V7Y 1G5