Atlas SALT Receives Court Approval FOR Plan of Arrangement with Triple Point
TSXV: SALT
333 Duckworth Street, St. John's
NL, A1C 1G9
Telephone: (709) 754-3186
Fax: (709) 754-3946
AtlasSalt.com
ATLAS SALT RECEIVES COURT APPROVAL FOR
PLAN OF ARRANGEMENT WITH TRIPLE POINT
St. John’s, Newfoundland and Labrador, September 8, 2022 – Atlas Salt Inc. (TSXV: SALT)
(OTCQB: REMRF) (the “Company” or “Atlas Salt”) is pleased to announce that on September 7, 2022,
the Supreme Court of British Columbia issued its final order approving a Plan of Arrangement (the
“Arrangement”) with Triple Point Resources Ltd. (“Triple Point”).
The Company has set 12:01 a.m. on September 22, 2022, as the effective time and date for the closing
of the Arrangement. Shareholders of record as at the close of business on September 21, 2022, will be
entitled to receive one Triple Point share for approximately 3.58 Atlas shares owned. The exact number
of Triple Point shares to be issued for each Atlas Salt share will be determined on the effective date.
Triple Point has applied to list its shares on the Canadian Securities Exchange which is subject to Triple
Point meeting all listing requirements.
About Atlas Salt
Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland
in the middle of the robust eastern North America road salt market. The project features a large
homogeneous high-grade resource. Atlas Salt also owns the Fischell’s Brook salt dome and other related
mineral licenses in western Newfoundland, forming the proposed spin -out of Triple Point Resources
Ltd.
For information, please contact:
Patrick J. Laracy, CEO
(709) 754-3186
MarketSmart Communications Inc.
Adrian Sydenham
Toll-free: 1-877-261-4466
Email: [email protected]
Forward-Looking Statements
Certain information contained herein constitutes forward-looking information or statements ("forward looking statements") under applicable securities
legislation and rules. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will be”, or variations of
such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are
to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements do not guarantee future performance and actual results or developments may differ materially from those in forward-looking
statements. There is no guarantee that the Company will complete the plan of arrangement as contemplated herein or at all, or if completed, that Triple Point
will be listed on a stock exchange. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their
own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable
laws.
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responsibility for the adequacy or accuracy of this release.