SOURCE: Atlantis Technology Group

November 06, 2007 12:17 ET

Atlantis Technology Group Announces Funding Commitment for Its Energy Division

COLORADO SPRINGS, CO--(Marketwire - November 6, 2007) - Atlantis Technology Group (OTCBB: ATNOD) announced today it has earmarked up to $10 million in the form of preferred and common company stock to assist with financing the development of the company's pipeline of rough fuel source candidates contained within energy division Atlantis Energy Corporation.

Atlantis' commitment of up to $10 million is in the form of Atlantis Technology Group preferred and common stock. This commitment will allow the energy division to enter into contracts for rough alternative and renewable fuel sources from companies worldwide, with the approval of the Atlantis Technology Group Board of Directors.

The availability of the $10 million in preferred and common stock is subject to quarterly review based upon the achievement of specific milestones associated with the development of the company's alternative and renewable energy source candidates.

The Board of Directors has agreed to grant Atlantis Energy this funding commitment in the coming year to secure contracts, both domestic and cross-border, with the identified rough fuel sources, situated in geographic locales that include but are not limited to the continental United States, Canada, Alaska, Mexico, Brazil, Venezuela, South Africa, India, China, Thailand, Russia, Kazakhstan, Uzbekistan, and Georgia.

Tim DeHerrara, president of Atlantis Technology Group, stated: "This commitment satisfies Atlantis Energy Company's needs for capital and will allow us to exploit several identified rough fuel sources in the very near future. Our first goal was to allow Atlantis Technology Group to develop existing identified alternative and renewable fuel sources with minimal dilution to our current shareholders."

ABOUT ATLANTIS TECHNOLOGY GROUP

Atlantis Technology Group was formed to develop privately held and publicly traded technology companies that focus on high-growth investments at the leading edge of business and technological innovation.

Atlantis Technology Group is engaged in providing debt and equity financing to public and private companies, as well as private equity funds, for working capital, acquisitions, management buyouts, projects and special situations within the newly announced target area. The Company's management intends to aggressively pursue new acquisitions that would enhance the existing portfolio of investments and that would be expected to enhance shareholder value through capital appreciation and dividend payments to the Company. Atlantis Technology Group intends to offer its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking information. Statements that are not descriptions of historical facts are forward-looking statements provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. These statements are made to enable a better understanding of our business, but because these forward-looking statements are subject to many risks, uncertainties, future developments and changes over time, actual results may differ materially from those expressed or implied by such forward-looking statements. Examples of forward-looking statements are statements about anticipated financial or operating results, financial projections, business prospects, future product performance and other matters that are not historical facts. Such statements often include words such as "believes," "expects," "anticipates," "intends," "plans," "estimates" or similar expressions.

These forward-looking statements are based on the information that was currently available to us, and the expectations and assumptions that were deemed reasonable by us, at the time the statements were made. We do not undertake any obligation to update any forward-looking statements in this report or in any of our other communications, except as required by law, and all such forward-looking statements should be read as of the time the statements were made, and with the recognition that these forward-looking statements may not be complete or accurate at a later date.

Contact Information

  • Additional Information:
    Tim DeHerrera
    CEO
    719-598-2469