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| Atlas Announces Changes in Management and the Board |
DENVER, Sept. 17 /PRNewswire/ -- Atlas Minerals Inc. (the "Company")
(OTC: ATMR) is pleased to announce that four new directors and one prior
director have been elected to the Board of Directors of the Company by its
shareholders at its annual meeting held on Friday, September 7, 2001. Newly
elected directors are: Gary E. Davis, David Groshoff, Robert Miller and H.R.
(Roy) Shipes. Douglas Cook was re-elected to the Board. Messrs. Groshoff and
Miller are affiliated with Atlas' two largest shareholders, Pension Benefit
Guaranty Corporation and Lindner Growth and Income Fund respectively. Mr.
Shipes is the Company's third largest shareholder. Mr. Davis is a former
President and Director of Atlas (1995-1996). Mr. Cook, a prior member of the
Board and consulting geologist, was previously the Chairman of Atlas (1996-
1998).
The Board elected Gary E. Davis as Chairman and Corporate Secretary and
Roy Shipes as President and Chief Executive Officer.
With this change, control of Atlas' Board of Directors transfers from its
present management to a group nominated by its largest shareholders. The new
Board contemplates no immediate change in Atlas' business or policies but will
immediately conduct a diligent review of all Company assets with a view to
maximizing value to the shareholders. This will include a review of the
status of the Andacaba mine located in Bolivia, which has been the primary
asset of the Company's wholly-owned subsidiary, Arisur Inc. In March 2001,
the Company announced that it had ceased all operations of the mine.
The Company has also acquired the legal rights to the name "Atlas
Corporation" in Colorado and is considering a change to operate under this
name.
Atlas is a mining exploration and development company with properties in
Nevada and Oregon.
For further information contact H.R. (Roy) Shipes, Chief Executive
Officer, at 520-889-2040.
On behalf of Atlas Minerals Inc.
"H.R. ("Roy") Shipes"
CEO and President
The statements contained in this release, that are not historical facts,
are forward-looking statements under the federal securities law. These
forward-looking statements are no guarantee of future performance, and involve
certain risks, uncertainties and presumptions that are difficult to predict.
Actual outcomes and results may differ materially from what is expressed or
implied by such forward-looking statements. The Company takes no obligation to
update publicly any forward-looking statements, whether as the result of new
information, future events or otherwise. This release is not an offer of
securities for sale in the United States; securities may not be offered or
sold in the United States without registration or an exemption from
registration.
SOURCE Atlas Minerals Inc.
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CONTACT:
H.R. (Roy) Shipes, Chief Executive Officer of
Atlas Minerals Inc., +1-520-889-2040
