01:42:33 EST Mon 26 Feb 2024
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or Name

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Atlas Engineered Products Ltd
Symbol AEP
Shares Issued 57,725,730
Close 2021-12-31 C$ 0.60
Market Cap C$ 34,635,438
Recent Sedar Documents

Atlas Engineered appoints MacRae as CFO, Dhaliwal, COO

2022-01-04 10:37 ET - News Release

Mr. Hadi Abassi reports


Atlas Engineered Products Ltd. has promoted Melissa MacRae from interim chief financial officer to chief financial officer and Gurmit Dhaliwal has been promoted from vice-president of operations to chief operating officer.

Mrs. MacRae is a chartered professional accountant who has been with Atlas for almost 10 years. Her path within the company began as the in-house accountant, when Atlas was a private entity, and since then she has honed her skills in strategy and financial leadership. These qualities have led to her consistent promotion to the positions of group controller, director of finance, interim CFO, and now CFO (all within the public entity). Mrs. MacRae seamlessly blends her significant knowledge base of the industry with her accounting background which has proven invaluable for the past decade.

Ms. Dhaliwal has been with Atlas for almost 20 years and has been instrumental in driving the growth of the company from a small private entity to a public company with a national footprint. She has proven herself to be a steadfast leader with strong business acumen and has a record of making strategic and profitable decisions. These strong leadership and operational skills have resulted in her promotions from operations manager, at Atlas' flagship location in Nanaimo, to vice-president of operations, and now to COO. Ms. Dhaliwal is a results-oriented leader who has helped Atlas achieve increased revenues, profitability, and productivity while developing and supporting the operational teams.

"I am very pleased to announce the promotions for Gurmit and Melissa. They have been an integral part of the AEP team and the results that AEP has been producing," said Hadi Abassi, chief executive officer, president and founder of Atlas. "I feel confident AEP can tackle any obstacle the future may bring with the executive team we have in place now."

Grant of options

Atlas announces that the company has granted a total of 425,000 incentive stock options to its executives and senior managers in accordance with the company's stock option plan. Each option is exercisable into one common share of the company at a price of 60 cents per share, being the closing price of the company's common shares on the TSX Venture Exchange on Dec. 31, 2021. The options will vest and become exercisable in equal one-third tranches every six months over a period of 18 months from the grant date and will expire on Jan. 4, 2027.

About Atlas Engineered Products Ltd.

Atlas is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. It has a well-defined and disciplined acquisition and operating growth strategy enabling it to scale aggressively and apply new technologies, giving it a unique opportunity to consolidate a fragmented industry of independent operators.

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