Atlas Salt Announces Order Book Interest Exceeding Targeted Gross Proceeds of $8,000,000 on LIFE Private Placement
1
TSXV: SALT
2 School Rd.
St. George’s, NL A0N 1Z0
Telephone: (709) 275-2009
AtlasSalt.com
FOR IMMEDIATE RELEASE
Atlas Salt Announces Order Book Interest Exceeding Targeted Gross
Proceeds of $8,000,000 on LIFE Private Placement
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ST. GEORGE'S, Newfoundland and Labrador, Oct. 14, 2025 (GLOBE NEWSWIRE) -
Atlas Salt Inc. (“Atlas Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF;
FRA:9D00) announces that order book interest for its previously disclosed private
placement offering currently stands at approximately $8,041,000, exceeding the
previously announced targeted gross proceeds of $8,000,000. Atlas Salt expects it
will issue at minimum 10,000,000 common shares of the Company (“Common
Shares”) at a price of $0.80 per Common Share (“Offering Price”) for aggregate gross
proceeds of $8,000,000 (the “Offering”), excluding any additional Common Shares
issued pursuant the exercise of the Agents’ Option (as defined below).
The offering is co-led and joint bookrun by Raymond James Ltd. and Ventum Financial
Corp., on behalf of a syndicate of agents (collectively, the “Agents”), which included
Desjardins Capital Markets.
The Company has also granted the Agents an option (the “Agents’ Option”) to sell up
to an additional 1,500,000 Common Shares for additional gross proceeds of up to
$1,200,000, exercisable in whole or in part, any time up to 48 hours prior to the
closing of the Offering. The Agents shall be under no obligation, in whole or in part,
to exercise the Agents’ Option.
The Company has agreed to pay to the Agents a cash commission equal to 6.0% of
the gross proceeds of the Offering. The Company has also agreed to issue to the
Agents that number of compensation options (“Compensation Options”) equal to
6.0% of the aggregate number of Shares issued by the Company under the Offering.
Each Compensation Option is exercisable to acquire one Common Share at a price
equal to the Offering Price for a period of 24 months from the closing date of the
Offering.
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TSXV: SALT
2 School Rd.
St. George’s, NL A0N 1Z0
Telephone: (709) 275-2009
AtlasSalt.com
Subject to compliance with applicable regulatory requirements and in accordance
with National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”), the Offering
will be offered for sale to purchasers resident in all of the provinces of Canada with
the exception of Québec pursuant to the listed issuer financing exemption under
Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions
from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer
Financing Exemption”). The securities issuable from the sale of the Offering are
expected to be immediately freely tradeable in accordance with applicable Canadian
securities legislation if sold to purchasers resident in Canada. The Common Shares
may also be sold in offshore jurisdictions and in the United States on a private
placement basis pursuant to one or more exemptions from the registration
requirements of the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”).
There is an offering document (the “Offering Document”) related to the Offering that
can be accessed under the Company's profile at www.sedarplus.ca and on the
Company’s website at www.atlassalt.com. Prospective investors should read this
Offering Document before making an investment decision.
The net proceeds received from the Offering will be used for civil engineering work
related to advancing the Great Atlantic Salt Project towards development a nd for
general corporate and working capital purposes, as further described in the Offering
Document.
The Offering is scheduled to close on or about October 21, 2025 (“Closing Date”) or
such other date as the Company and the Agents may agree and, in any event, on or
before a date not later than 45 days after the date of the news release announcing
the Offering. Completion of the Offering is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals, including the approval of
the TSX Venture Exchange.
Certain insiders of the Company are anticipated to participate in the Offering, and
such participation by insiders will constitute a related party transaction as defined in
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). The Company intends to rely on exemptions from the
formal valuation and minority shareholder requirements provided under sections
3
TSXV: SALT
2 School Rd.
St. George’s, NL A0N 1Z0
Telephone: (709) 275-2009
AtlasSalt.com
5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the
securities to be issued under the Offering nor the consideration to be paid by insiders
of the Company will exceed 25% of the Company's market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to
sell any securities in the United States. The securities have not been and will not be
registered under the U.S. Securities Act or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About Atlas Salt
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 information, please contact:
Jeff Kilborn, CFO & VP Corporate Development
(709) 275-2009
We seek safe harbour.
4
TSXV: SALT
2 School Rd.
St. George’s, NL A0N 1Z0
Telephone: (709) 275-2009
AtlasSalt.com
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 anticipated closing of the Offering; the approval of the TSX Venture
Exchange; the filing of the Offering Document; 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. 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.