Market Overview

Atlas Growers ™ Partnership with University of Alberta


EDMONTON, Alberta, Sept. 05, 2018 (GLOBE NEWSWIRE) -- ATLAS GROWERS LTD. ("Atlas" or the "Company"), a wholly owned subsidiary of Atlas Biotechnologies Inc., announces it has entered into a partnership with the University of Alberta ("U of A") committing to explore process development for cannabis waste management and develop sustainable waste disposal and bioenergy production ("Cannabis Waste Project"). Atlas and the U of A will partner on the Cannabis Waste Project via Alberta Innovate's Climate Change Innovation and Technology Framework ("CCITF") under the Clean Technology Development ("CTD") program.

Atlas is nearing final commissioning of an initial purpose-build 38,000 square foot facility located northwest of Edmonton, Alberta with a development permit being granted for up to 1,100,000 square feet of construction on the same licensed site. Atlas is committed to responsible cannabis production which includes minimizing cannabis waste. The Cannabis Waste Project will explore potential solutions to critical waste disposal and responsible water management practises related to future cannabis production. Under the CCITF CTD program, Atlas and the U of A aim to develop anaerobic digestion strategies for the on-site treatment and handling of cannabis waste and to explore opportunities to convert the biomass into electricity.

Chief Executive Officer Sheldon Croome states; "Atlas is committed to responsible cannabis production and this partnership with the U of A contributes to our business strategy of becoming one of the largest, internationally recognized cannabis producers in Canada. The U of A is a global leader in research and development and is our preferred partner to develop strategies related to minimizing waste from cannabis production and ensuring a healthy, secure and sustainable electric and water supply."

About Atlas Growers Ltd.

Atlas is based in Edmonton, Alberta, Canada and is a wholly owned subsidiary of Atlas Biotechnologies Inc. Atlas has applied for, and expects to receive in the second half of 2018, its cultivation and sales licenses under Health Canada's ACMPR. Atlas' initial purpose-built 38,000 square foot facility is nearing completion and will have the capacity to produce approximately 5,000 kg of dried cannabis annually as well as to refine cannabis concentrates. Further, the 160-acre Atlas site could allow for future expansion of up to 12,000,000 square feet of production capacity. Atlas is well financed and has a currently unutilized $6.25 million bank facility in place with ATB Financial.

For further information contact:

Jeffrey R. Gossain, P. Eng.
Vice President of Operations
Phone: 780-784-5920

Graeme Dick, BMgmt
Colwell Capital Corp.

Dean Stuart


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