Vancouver, BC, July 30, 2014 - Atlas Cloud Enterprises Inc.(CSE:AKE) is one of the latest new listing on the Canadian Securities Exchange, having previously traded as Sypher Resources under the symbol SYP.
InvestmentPitch.com has produced a "video news alert (http://www.investmentpitch.com/video/0_y8vh3qss/Atlas-Cloud-Enterprises-Inc-CSE-AKE-New-Listing)" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.InvestmentPitch.com) and enter "Atlas" in the search box.
The company closed the acquisition of 100% of Atlas Cloud Enterprises (2013) Ltd., now a wholly-owned subsidiary, in exchange for 5 million shares, which are subject to an escrow agreement. As the acquisition was at arm's length, no formal valuation was required, with the company receiving written consent of shareholders holding in excess of 51% of the outstanding shares.
Vancouver-based Atlas is a start-up company which will carry on the active business of providing colocation, back-up, redundancy, tech support, telecom equipment, and cloud computing to small and medium businesses in Western Canada. Colocation operates on the basis of having a second set of files or information stored on another computer at another located, which can be accessed if the company's primary computers crash or are destroyed. Atlas will provide customers with secure power supply, cooling and bandwidth to ensure that their backup, colocation or cloud systems have minimum risk of failure.
In conjunction with the closing, the company completed a private placement of 4,150,000 units at $0.15 per unit, raising $623,000. Furthermore, some of the original shareholders of Sypher sold a total of 4 million shares to persons associated with Atlas, at a deemed price of $0.07 per share.
The shares are trading at $0.17, and with 16.4 million shares currently outstanding, the company is capitalized at $2.8 million.
For more information, please visit the company's website www.atlascloud.ca (http://www.atlascloud.ca) or contact Fred Stearman CEO at 778-871-0357 or email fred@atlascloud.ca (mailto:fred@atlascloud.ca).
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