Atlas Engineered Products Expands with $12M Raise

Atlas Engineered Products Ltd (TSE:AEP) has released an update.

Atlas Engineered Products Ltd. has announced a significant capital raise through a $4 million bought deal and an $8 million private placement, aimed at funding the expansion of robotic automation in their facilities across Canada, and for other corporate purposes. The company plans to use the raised funds for purchasing and installing advanced robotic equipment, constructing a new building for housing the robotics expansion, and potentially acquiring new businesses. The offerings, which are subject to regulatory approvals including TSX Venture Exchange endorsement, are expected to close by June 26, 2024.

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