Atlas Capital Holdings and Clean Energy Pathways Reach Acquisition Agreement
13 Avril 2011 - 3:30PM
Atlas Capital Holdings, Inc. (OTCBB:ALCL) and Clean Energy
Pathways, Inc. (Pink Sheets:CPWY) have reached an agreement under
which Atlas Capital Holdings will acquire Clean Energy Pathways by
issuing two shares of Atlas Capital common stock in exchange for
every one share of common stock held by Clean Energy's
shareholders. This means that Clean Energy's shareholders will own
two shares of stock in the bulletin board company for every share
that they currently hold in Clean Energy.
Under the agreement Clean Energy Pathways will become a
wholly-owned subsidiary of Atlas Capital Holdings. In turn, Atlas
Capital Holdings will change its name to Clean Energy Pathways,
reflecting the company's business of renewable energy. In addition
to the name change, Clean Energy Pathways CEO J. Michael Parsons
will become CEO of the new company.
Parsons commented on the positive impact that management
anticipates from moving up to the Bulletin Board: "We have managed
to generate new, and what we hope to be, very lucrative business
opportunities in the renewable energy space, and we believe this
next step will only enhance those opportunities. We also hope to
provide the type of transparency and communication with our
shareholders that they deserve."
Recently, the federal government withdrew funding for many
renewable energy projects throughout the U.S. This created an
opportunity for Clean Energy Pathways, which has developed a
relationship with a private institutional investor that will allow
the company to finance its projects with private funds, instead of
waiting for federal dollars.
Commenting on the acquisition, Atlas Capital Partners CEO Chris
Davies said, "We have been looking for a solid opportunity for
quite a while. Clean Energy Pathways has exhibited, in some very
tangible ways, that it can generate significant opportunities that
will be beneficial for our shareholders."
Clean Energy Pathways has three divisions focused on (1)
biofuels, (2) energy efficiency and retrofits, and (3) solar and
other renewable energy developments and sales.
About Atlas Capital Holdings
On March 1, 2011, Atlas Capital Holdings entered into a Joint
Venture Agreement with Clean Energy Pathways under which both
companies agreed to explore a merger, and each agreed to provide
sufficient resources to identify how the shareholders of both
companies would benefit from such a merger. Until March 1, 2011,
Atlas Capital Holdings had minimal operation.
About Clean Energy Pathways
Clean Energy Pathways, Inc. is a company focused on delivering
multiple solutions to aid businesses and government facilities in
attaining energy independence, reduced costs and a cleaner
environment. These pathways to energy independence include biomass
fuels, solar systems, building energy management systems and other
technologies, as well as financing of, and gain-sharing in, the
improvements.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks and
uncertainties that could cause future results to differ materially
from the forward-looking statements. You should consider these
factors in evaluating the statements herein, and not rely on such
statements. The forward-looking statements in this release are made
as of the date hereof and Clean Energy Pathways, Inc. and Atlas
Capital Holdings, Inc. undertake no obligation to update such
statements.
CONTACT: Equititrend Advisors
1-800-953-3350
Or
Harrison Parrish, 866-492-5325
investor@cepathways.com
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