Atlas SALT Receives Shareholder 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 SHAREHOLDER
APPROVAL FOR PLAN OF ARRANGEMENT WITH
TRIPLE POINT
St. John’s, Newfoundland and Labrador, September 1, 2022 – Atlas Salt Inc. (TSXV: SALT)
(OTCQB: REMRF) (the “Company” or “Atlas Salt”) is pleased to announce that at its annual general
and special meeting held yesterday, holders of common shares of Atlas Salt (the “Shareholders”) voted
overwhelmingly in favour of the special resolution to approve the proposed Plan of Arrangement (the
“Arrangement”) with Triple Point Resources Ltd. (“Triple Point”) under the Business Corporations
Act (British Columbia).
The special resolution with respect to the Arrangement was approved by 99.99% of the votes cast by
shareholders yesterday. In addition, the Arrangement was approved by a majority of the minority
shareholders voting at the meeting in accordance with the requirements of the TSX Venture Exchange.
Closing of the Arrangement is anticipated to occur this month and is subject to obtaining a final order of
the Supreme Court of British Columbia expected on or about September 7, 2022, and the final acceptance
of the TSX Venture Exchange to the disposition by the Company of Triple Point shares pursuant to the
Arrangement.
Share Distribution Date Approaches
The Date of Record for the distribution of 23,750,000 Triple Point shares will be on or about September
21, 2022. All Atlas shareholders qualify to receive one Triple Point share for approximately four Atlas
shares owned as of the Date of Record.
Triple Point has applied to list its shares on the Canadian Securities Exchange. Listing remains subject
to meeting the listing requirements of the CSE.
For further information regarding the proposed Arrangement and related transactions, please refer to the
management information circular dated July 14, 2022, available under Atlas Salt’s profile on SEDAR at
www.sedar.com.
Other AGM Details
At the meeting, shareholders also approved annual matters. All five of the individuals nominated for the
board of directors were re-elected, being Patrick Laracy, Timothy Rowland Howe, Fraser Edison, Carson
Noel and John Anderson. Shareholders also re-appointed PricewaterhouseCoopers LLP as auditors of
Atlas Salt, and approved the Company’s rolling 10% stock option plan.
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 mineral
licenses in western Newfoundland, forming the proposed spinout of Triple Point Resources Ltd.
We seek Safe Harbor.
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. Such statements include, but are not limited to, statements with respect to
the anticipated completion of the Arrangement. Forward -looking statements are based on the opinions and estimates of
management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Atlas Salt to be materially different
from those expressed or implied by such forward -looking statements, including, but not limited to: (i) any inability of the
parties to satisfy the condi tions to the completion of the Arrangement on acceptable terms or at all; and (ii) receipt of
necessary stock exchange and court approvals. Although management of Atlas Salt has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements
will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Atlas Salt
will not update any forward-looking statements or forward-looking information that are incorporated by reference herein,
except as required by applicable securities laws.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.