Atlas Engineered Products Makes Final Installment Payment for South Central Building Systems

NANAIMO, BC, Oct. 3, 2019 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSX-V: AEP; OTC Markets: APEUF) is pleased to announce it has made the final $100,000 installment payment due to the former shareholders of South Central Building Systems ("SC"), which was acquired by the Company in March 2019. Three former SC shareholders elected to receive their pro rata share of the final installment payment in AEP common shares as provided for under the previously announced terms of the SC acquisition. As a result of this election, a total of 225,000 AEP common shares were issued to former SC shareholders.

"South Central is a best in class operation with efficient automation which has already shown capacity to increase output and product lines since the acquisition," said AEP CEO Dirk Maritz. "We continue to serve a loyal and growing customer base in Southern Manitoba and look forward to potential entry into markets in Minnesota and North Dakota."

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.