Atlas Salt Announces Closing of Brokered LIFE Private Placement and Participation of Strategic Investor
Atlas Salt Announces Closing of Brokered LIFE Private Placement
and Participation of Strategic Investor
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
ST GEORGE’S, Newfoundland and Labrador, Oct. 21, 2025 (GLOBE NEWSWIRE) - Atlas Salt Inc.
(“Atlas Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF; FRA: 9D00) announces that it has
closed its brokered private placement financing (the “ Offering”) previously announced on October
14, 2025, raising gross proceeds of $8,704,400. Under the Offering, 10,880,500 common shares of
the Company (“Common Shares”) at a price of $0.80 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 offered under the Listed Issuer
Financing Exemption are not subject to a hold period in accordance with applicable Canadian
securities laws.
Participants in the Offering included a strategic investor with whom the Company is excited to build
and strengthen its relationship. This investor’s interest in the Company and its flagship Great Atlantic
Salt Project aligns with its long-term strategic objectives.
Nolan Peterson, CEO of Atlas Salt, commented: “The commitment and interest of both new and existing
shareholders underscores the strength of the results of our recent Updated Feasibility Study, which
demonstrated improved project economics and cash flow potential at Great Atlantic, in conjunction with
significant de-risking. The participation of this strategic investor marks a major milestone for the
Company and further reinforces our confidence in the direction we are taking with the Great Atlantic Salt
Project. The rapid and positive response to the Updated Feasibility Study, the resulting market interest
and the rapid closing of this financing have provided us with a timely opportunity to advance our early
works program. Collectively, these developments position Atlas Salt as an increasingly attractive
investment opportunity.”
The Offering was conducted pursuant to the terms of an agency agreement entered into among the
Company and Raymond James Ltd., as co-lead agent and joint bookrunner, and Ventum Financial
Corp., as co-lead agent and joint bookrunner, on behalf of a syndicate of agents, including
Desjardins Capital Markets (collectively, the “ Agents”). As consideration for their services, the
Company has paid the Agents an aggregate cash fee totaling $522,264. The Company also issued to
the Agents an aggregate of 652,830 compensation warrants (each, a “ Compensation Warrant ”),
with each Compensation Warrant entitling the holder thereof to acquire one Common Share at the
Offering Price for a period of 24 months from the closing date of the Offering.
The net proceeds received from the Offering will be used for civil engineering work related to
advancing the Great Atlantic Salt Project towards development and for general corporate and
working capital purposes, as further described in the offering document in connection with the
Offering, which can be accessed under the Company’s profile at www.sedarplus.ca and on the
Company’s website at www.atlassalt.com.
As previously disclosed, certain insiders of the Company participated in the Offering, and such
participation by insiders constitutes a related party transaction as defined in Multilateral Instrument
61-101 Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). The Company is
relying on exemptions from the formal valuation and minority shareholder requirements provided
under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the
securities issued under the Offering nor the consideration paid by insiders of the Company exceed
25% of the Company’s market capitalization.
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 intended use of proceeds of the Offering, are forward-looking statements. 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. Readers should not place undue reliance
on the forward-looking statements and information contained in this news release concerning these times.
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Comments)
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.