Atlas Blockchain Comments on Recent Market Activity
VANCOUVER, British Columbia, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Atlas Blockchain Group Inc. (CSE:AKE) (FRANKFURT: A49 ) (OTCQB:ATLEF) (the “Company” or “Atlas Blockchain”), wishes to make the following statements regarding recent market activity concerning its common shares (the “Common Shares”) traded on the OTCQB marketplace.
The Company only became aware of certain promotional activity on its securities on September 5, 2018 when it received correspondence from OTC Markets. The Company believes that the promotion may have had some impact on market activity, but certain macro events including the significant increase in the price of bitcoin may have also contributed to the recent stock increase and trading activity.
The promotional email presents a general overview of the Company’s business and operations and the growth potential of the bitcoin and blockchain space. It contains some speculative language and forward-looking statements about investment potential, but the Company does not believe it contains any materially false or misleading statements about the Company. The Company engaged Monster Media on August 27, 2018 for the purpose of drafting and hosting digital media content, and while the promotional email referenced above was not directly procured or paid for by the Company, the Company was not at any time provided a copy of such materials by Monster Media, and the Company had no editorial control over the content, the Company acknowledges that it may have indirectly contributed to the creation and distribution of such material due to its engagement of Monster Media.
The Company routinely responds to inquiries from shareholders, potential investors, and investment analysts, and generates its own marketing materials. To the Company’s knowledge, neither the Company, its officers, directors, any controlling shareholders, or any third-party service providers have, directly, or indirectly, authorized or been involved in any way (including payment to a third party) with the creation or distribution of promotional materials that make any exaggerated or misleading claims about the Company or its securities.
In the last twelve months, the Company has engaged the following third-party providers of investor relations, public relations, marketing and other related services: Marco Messina, Monster Media, Invictus IR, Full Service Media, Resultz Media, Khaos Media and Bull Markets Media Gmbh.
During the past 90 days, Fred Stearman, Chief Operating Officer of the Company, and John Veltheer, Director of the Company, purchased an aggregate of 393,000 common shares, and 25,000 common shares of the Company, respectively. The Company is unaware of any such persons having executed any sales transactions during such time period. Such transactions were in accordance with the Company’s insider trading policy and were reported with the System for Electronic Disclosure ( www.SEDI.ca ). Except as described above, neither the Company’s officers, directors and, to the knowledge of the Company, any controlling shareholders or third-party service providers, have sold or purchased common shares of the Company within the last 90 days.
The Company has not issued any convertible debt or equity instruments that allow conversion to equity securities at prices constituting a discount to the current market rate at the time of issuance.
About Atlas Cloud Enterprises Inc.Atlas Cloud Enterprises Inc. is a growth oriented, CSE-listed company focusing on the business of providing co-location and backup/redundancy IT, telecom equipment and cloud computing. Atlas Cloud will provide customers with secure power access, cooling and bandwidth to ensure co-located, back-up or Cloud systems offer minimum risk of failure. Furthermore, Atlas is focused on the blockchain sector and digital currency mining. Atlas Cloud aims to become the lowest-cost producer of digital currency mining and blockchain infrastructure. Atlas Cloud owns a facility currently undergoing preparations for use as a digital currency mining operation located in Electric City, WA. This location currently benefits from a dedicated low-cost energy source of 5.0 MW and the Company is seeking to significantly expand its operations with the development of additional facilities offering economical, high-yield energy infrastructure opportunities.
On behalf of the Board,
Charlie Kiser, Chief Executive Officer
Contact Atlas Cloud Investor Relations+1(604) 343-8661 email@example.com The CSE does not accept responsibility for the adequacy or accuracy of this release. Forward Looking InformationCertain 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.