Atlas Salt Closes $1.25 Million Flow-Through Financing
Atlas Salt Closes $1.25 Million Flow-Through
Financing
St. George's, Newfoundland and Labrador--(Newsfile Corp. - May 22, 2026) -
Atlas Salt Inc. (TSXV:
SALT) (OTCQX: SALQF) ("Atlas Salt" or the "Company")
announces that it that it has closed its
previously announced non-brokered private placement financing (the "Offering") consisting of 961,539
flow-through common shares of the Company (the "FT Shares") at a price of $1.30 per FT Share for
aggregate gross proceeds of $1,250,000.
Each FT Share qualifies as a "flow-through share" for purposes of the Income Tax Act (Canada) (the
"Tax Act"). The gross proceeds raised from the issuance of the FT Shares will be used by the Company
to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures"
as such terms are defined in the Tax Act to advance exploration on the nepheline discovery at its Black
Bay Property in Southern Labrador.
All securities issued pursuant to the Offering are subject to a statutory hold period expiring four months
and one day from the date of issuance in accordance with applicable Canadian securities laws.
About Atlas Salt
Atlas Salt is developing North America'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.
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; and 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
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