Atlas Salt Announces Closing of $15 Million Bought Deal LIFE Offering
Atlas Salt Announces Closing of $15 Million
Bought Deal LIFE Offering
St. George's, Newfoundland and Labrador--(Newsfile Corp. - June 11, 2026) -
Atlas Salt Inc. (TSXV:
SALT) (OTCQX: SALQF) (FSE: 9D00)
("Atlas Salt" or the "Company")
is pleased to announce that
it has closed its bought deal offering (the "
Offering
") of common shares of the Company (the "
Common
Shares
") previously announced on May 31, 2026 and upsized on June 1, 2026, raising aggregate gross
proceeds of C$15,153,600. Under the Offering, 12,628,000 Common Shares at a price of C$1.20 per
Common Share (the "
Offering Price
") were issued pursuant to National Instrument 45-106 -
Prospectus
Exemptions
("
NI 45-106
") in accordance with Part 5A of NI 45-106, as amended by the Canadian
Securities Administrators' Coordinated Blanket Order 45-935 -
Exemptions from Certain Conditions of
the Listed Issuer Financing Exemption
(the "
Listed Issuer Financing Exemption
"). The Common
Shares issued under the Listed Issuer Financing Exemption are not subject to a hold period in
accordance with applicable Canadian securities laws.
Nolan Peterson, CEO of Atlas Salt, commented: "
The successful closing of this upsized bought deal
offering reflects strong market confidence in Atlas Salt and Great Atlantic Salt Project and the
significant progress we have made in advancing the Project toward full scale construction. The
proceeds from this financing will enable us to accelerate our ongoing early works and site preparation
program, advance detailed engineering, and continue to build momentum with our strategic project
partners. We are well-positioned to deliver on our near-term development milestones and to create
lasting value for our new and existing shareholders
."
The Offering was conducted pursuant to the terms of an underwriting agreement entered into among the
Company and Ventum Financial Corp. and Raymond James Ltd., as co-lead underwriters and co-lead
bookrunners (together, the "
Underwriters
"). The Offering included an underwriters' option (the
"
Underwriters' Option
") to purchase up to an additional 1,079,000 Common Shares at the Offering
Price, which was exercised in part for 128,000 Common Shares. As consideration for their services, the
Company has paid the Underwriters an aggregate cash consideration of $929,216.
The net proceeds received from the Offering will be used for early works and site preparation activities,
detailed engineering and mine development planning, advancement of permitting and environmental
workstreams, procurement planning and equipment studies, and advancement of project financing
initiatives in connection with the Great Atlantic Salt Project, as well as for general corporate and working
capital purposes, as further described in the amended and restated offering document dated June 1,
2026, filed in connection with the Offering, and which can be accessed under the Company's profile at
www.sedarplus.ca
and on the Company's website at
www.atlassalt.com
.
Closing of the Offering is subject to final acceptance by the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or
sale would be unlawful.
About Atlas Salt Inc.
Atlas Salt is developing Canada's next salt mine and is committed to responsible and sustainable
mining practices. With a focus on innovation and efficiency, the company is poised to make significant
contributions to the North American salt market while upholding its values of environmental stewardship
and community engagement.
For more information, please contact:
Jeff Kilborn, CFO & VP Corporate Development
(709) 275-2009
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. This press release includes certain "forward-looking information" and "forward-looking
statements" (collectively "forward-looking statements") within the meaning of applicable Canadian
securities legislation. All statements, other than statements of historical fact, included herein, without
limitation, statements relating to the future operating or financial performance of the Company, are
forward-looking statements. Forward-looking statements are frequently, but not always, identified by
words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should"
occur or be achieved. Forward-looking statements in this press release relate to the intended use of
proceeds from the Offering. Actual future results may differ materially. There can be no assurance that
such statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions
and projections on the date the statements are made and are based upon a number of assumptions
and estimates that, while considered reasonable by the respective parties, are inherently subject to
significant business, technical, economic, and competitive uncertainties and contingencies. Many
factors, both known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may be expressed or
implied by such forward-looking statements and the parties have made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation: the timing,
completion and delivery of required permits, supply arrangements and financing; fluctuations in the
spot and forward price of salt; geological, hydrological and climatic events; credit and liquidity risks;
delays in receiving governmental approvals; adverse fluctuations in market prices and availability of
commodities and equipment; and other risks described in the Company's public filings. Readers
should not place undue reliance on the forward-looking statements and information contained in this
news release concerning these times. Except as required by law, the Company does not assume any
obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
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