Atlas Salt Appoints Endeavour Financial as Financial Advisor for the Project Financing of its Great Atlantic Salt Project
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
FOR IMMEDIATE RELEASE
Atlas Salt Appoints Endeavour Financial as Financial Advisor for the Project
Financing of its Great Atlantic Salt Project
St. John's, Newfoundland and Labrador – December 10, 2024 - Atlas Salt Inc. (“Atlas
Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF) is pleased to announce the
appointment of Endeavour Financial as its financial advisor to lead the arrangement
of project financing for the Great Atlantic Salt Project (the “Project”).
Atlas Salt aims to secure $350–$400 million in senior secured debt, with the potential
for additional subordinated debt, based on preliminary modeling. This financing
initiative builds on significant achievements in 2024 that not only de-risk the
Company and the Project but also position Atlas Salt to secure financing for the
development of this transformative project.
Key 2024 Milestones
Project Highlights
Validated the Project’s low-carbon footprint with Stantec Consulting.
Released from the Environmental Assessment process.
Completed mine simulation and verification study with SRK Consulting.
Finalized a de-risked development schedule with Tamkali.
Initiated geotechnical drilling and investigation.
Acquired land and surface leases essential for development.
Secured mining lease to facilitate the development and operation of the mine.
Strategic Achievements
Published an independent economic impact study by Jupia Consultants.
Released an inaugural ESG Report.
Signed an MOU with Scotwood Industries for 1.25–1.5 Mtpa packaged salt
offtake.
Secured a $73 million MOU for a fully-financed equipment fleet with Sandvik
Mining and Rock Solutions.
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
Richard LaBelle, CEO, stated "I’m proud of what the Company and team have
accomplished in 2024. After a comprehensive and thorough selection process, we
are confident that Endeavour Financial is the right advisor and partner to secure the
optimal project financing and inter-creditor solution for the Great Atlantic Salt
Project. This is a generational, long-life opportunity, and with strong relationships
already established with potential lenders, the time is right to bring in a trusted
partner to guide us through the final steps of the financing process."
George Pyper, Managing Director of Endeavour Financial, added "The Great
Atlantic Salt Project is an exceptional undertaking, and Atlas Salt has made significant
strides to position itself for success. We are very encouraged about structuring
financing facilities tailored to this long-life, low-impact, scalable operation. With its
robust design and stable cash flow potential, the Project presents a compelling
opportunity for long-tenor debt financing."
For further information and ongoing updates, please visit https://atlassalt.com.
For further information about Endeavour Financial, please visit
https://endeavourfinancial.com/.
About Endeavour Financial
Endeavour Financial is a private independent merchant banking company focused
on providing expert and unbiased financial advisory services to the global natural
resources sector. Founded in 1988, Endeavour Financial has a history of achieving
success for clients based on resource industry focus, innovative transaction skills and
the diverse professional backgrounds of its award-winning team. Offering advice in
project, corporate and debt capital markets; equity-linked financings; mergers and
acquisitions; and strategic business development over more than three decades,
Endeavour Financial has established itself as a leading financial advisor in the natural
resources sector, and has closed more mine development financing transactions in
the past five years than any other advisor.
About Atlas Salt Inc.
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
Atlas Salt Inc. 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:
Richard LaBelle, CEO
(709) 739-9545
We seek safe harbor.
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, among other things: obtaining financing, completion, delivery and timing
of project components and requirements, and analysis and assumptions related thereto.
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
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
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.