Atlas Announces Material Real Estate Transaction

CHICAGO , April 6, 2012 /CNW/ – (TSX.V:AFH.V – News) Atlas Financial Holdings,
Inc. (“Atlas” or the “Company”) today announced it entered into a
definitive sale and purchase agreement related to its 176,844 square
foot building in Elk Grove Village, Illinois.  Proceeds from this cash
transaction, net of costs and fees at closing, are expected to be
slightly higher than the approximately $13 million asset value of the
property as carried on the Company‘s books at December 31 , 2011.  Atlas
will remain in the building as a tenant.  The transaction is scheduled
to close in second quarter 2012 subject to the terms of the agreement.

About Atlas

The primary business of Atlas is commercial automobile insurance in the
United States , with a niche market orientation and focus on insurance
for the “light” commercial automobile sector including taxi cabs,
non-emergency paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its insurance subsidiaries
American Country Insurance Company and American Service Insurance
Company, Inc.  Atlas’ insurance subsidiaries have decades of experience
with a commitment to always being an industry leader in these
specialized areas of insurance.                 

Notice regarding forward-looking statements:

This release includes forward-looking statements regarding Atlas and its
insurance subsidiaries and businesses. Such statements are based on the
current expectations of the management of each entity. The words
“anticipate”, “expect”, “believe”, “may”, “should”, “estimate”,
“project”, “outlook”, “forecast” or similar words are used to identify
such forward looking information.  The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the Companies, including risks regarding the
insurance industry, economic factors and the equity markets generally
and the risk factors discussed in the “Risk Factors” section of the
Company’s Form 10-K for the year ended December 31, 2011 . No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and Atlas and its subsidiaries
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Leave a Reply