Atlas Consolidated Mining and Development Corp. and Carmen Copper Corp. has expanded its purpose to include “leasing” as part of its business activity.
In a disclosure to the Philippine Stock Exchange (PSE), both companies Board of Directors approved the amendment of the Articles of Incorporation to include “leasing” as a business activity, forming part of the secondary purposes of the companies.
The additional purpose of Atlas and Carmen will allow both companies to lease or sub-lease any of its real properties to qualified and competent interested third parties. Leasing will also provide additional revenue source necessary for their respective business operations, the disclosure stated.
In addition, the company Board of Directors of Atlas has suspended the process of dissolution and winding down of business of wholly-owned subsidiaries: AquAtlas Inc. and Atlas Exploration pending review of said companies’ financial obligations.
The Atlas Board told the PSE they are still revisiting and reviewing the remaining financial obligations of AquAtlas and Atlas Exploration.
The company’s Board of Directors approved the two resolutions during its regular meeting on March 14, 2025.
