Atlas Global Announces Change of Auditor and Year End

EDMONTON, ALBERTA, CHATHAM, ONTARIO and TEL-AVIV, ISRAEL, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Atlas Global Brands Inc. (“Atlas Global” or the “Company”) (CSE: ATL), a cannabis company with expertise across the cannabis value chain, is pleased to announce the appointment of BDO Canada LLP (“BDO”) as its new external auditor effective February 28, 2023 until the close of the next annual general meeting of shareholders.

BDO Canada LLP (the “Successor Auditor”) replaces Manning Elliott LLP (“Manning Elliott”) (the “Former Auditor”) as Atlas Global’s auditor. The board of Directors of the Company (the “Board”) and audit committee of the Company (the “Audit Committee”) each approved the appointment of the Successor Auditor. There were no reservations or modified opinions in the Former Auditor’s audit reports for any financial period during which the Former Auditor was the Company’s auditor and there are no “reportable events” (as defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”)) between the Company and the Former Auditor.

In accordance with NI 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Audit Committee and Board and will be filed under the Company's SEDAR profile at www.sedar.com.

The Board and Audit Committee have also approved a change in Atlas Global’s financial year end from December 31 to March 31 to allow for the transition to the Successor Auditor. The Company will file the interim financial statements for the 3 and 12 months ended December 31, 2022, on or before March 1, 2023, and audited financial statements for the transition year ended March 31, 2023, on or before July 31, 2023. Further details regarding the change in financial year end will be available in the Company's notice of change in year-end prepared in accordance with Section 4.8 of NI 51-102 and filed under the Company's SEDAR profile at www.sedar.com.

About Atlas Global

Atlas Global is a global cannabis company operating in Canada and Israel with expertise across the cannabis value chain, including cultivation, manufacturing, marketing, distribution, and pharmacy. Atlas currently distributes to eight countries: Australia, Canada, Denmark, Germany, Israel, Norway, Spain, and the United Kingdom. In addition to a differentiated product mix, Atlas operates three licensed cannabis facilities – one with EU-GMP and two with GACP and CUMCS certifications – along with five medical pharmacies and one Trading House in Israel. Atlas expects to drive incremental commercial opportunities with an enhanced brand and SKU portfolio, while delivering accretive margin expansion by capitalizing on its strategy – maximize value in delivering quality products to global markets through its vertically integrated supply chain.

Contacts

Bernie Yeung
Chief Executive Officer
1-844-415-6961
invest@atlasglobalbrands.com

Alyssa Barry
Media and Investor Relations
1-833-947-5227
invest@atlasglobalbrands.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.