AtmanCo Inc.

TSX VENTURE : ATW


AtmanCo Inc.

February 20, 2014 21:00 ET

AtmanCo Announces Agreement to Sell the Assets of its Cyberhealth Divison

MONTREAL, QUEBEC--(Marketwired - Feb. 20, 2014) - AtmanCo Inc. AtmanCo » or the « Company ») (TSX VENTURE:ATW), innovative leader in psychometric tests' web solutions for recruitment and organizational development, announces today that it has entered into an agreement to sell the assets of the cyberhealth division, specialized in solutions for posture and fitness. The assets of the cyberhealth division include technology, as well as some patents and trademarks. AtmanCo will receive $ 610,000 in cash for the assets of the cyberhealth division.

"Accepting this offer for the assets of the cyberhealth division will allow us to focus our efforts, team and financial resources on the development of our talent measurement solutions" said Michel Guay, President and Chief Executive Officer of AtmanCo. "We believe this transaction will benefit the Company, its shareholders and its customers in the field of human resources" said Mr. Guay.

AtmanCo anticipates the closing of this transaction by the end of March 2014. Parties involved in the transaction are AtmanCo Inc. and 9295-5905 Québec Inc., a company owned by Sylvain Guimond. The Cyberhealth division became a part of AtmanCo following the reverse takeover in 2012. The parties are at arm's length.

This transaction is subject to usage conditions and approval of the Autorité des marchés financiers (AMF) and the TSX Venture Exchange.

Forward looking statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While AtmcanCo anticipates that subsequent events and developments may cause its views to change, AtmcanCo specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws.

ATMANCO PROFILE

Field of human resources

Using a management interface (Web platform) that is among the most advanced, AtmanCo helps executives and managers recruit qualified human resources by placing the right person in the right position.

By quickly obtaining results of psychometric tests, comparing profiles to job norms and generating complementarity reports, managers are equipped throughout their human resources processes.

The Company stands out in its marketing approach via its Web site, direct sales and partner network. For further information, visit www.atmanco.com

Contact Information

  • AtmanCo inc.
    Michel Guay
    CEO
    514.935.5959 ext. 301

    AtmanCo inc.
    Edith Bourgeois
    CFO
    514.935.5959 ext. 304
    www.atmanco.com