Atlas Salt Announces LIFE Private Placement Targeting Gross Proceeds of up to $8 Million

Executive Summary

• Atlas Salt Inc. announced a private placement for up to 10,000,000 common shares at $0.80 per share, targeting gross proceeds of up to $8 million (minimum $5 million).
• Raymond James Ltd. and Ventum Financial Corp. will act as co‑lead agents and joint bookrunners; they also hold an option to sell an additional 1,500,000 shares for up to $1.2 million.
• Net proceeds are earmarked for civil engineering work on the Great Atlantic Salt Project and general corporate/working capital purposes.

Key Details

• Offering Size: Up to 10,000,000 common shares at $0.80 per share → $8,000,000 gross proceeds (minimum $5,000,000).
• Agents: Raymond James Ltd. and Ventum Financial Corp., serving as co‑lead agents and joint bookrunners.
• Agents’ Option: Right to sell up to 1,500,000 additional shares for up to $1,200,000; exercisable any time up to 48 hours before closing; no obligation to exercise.
• Commission: Cash commission equal to 6% of gross proceeds payable to the agents.
• Compensation Options: Agents receive options representing 6.0% of the aggregate shares issued in the offering, exercisable at $0.80 per share for 24 months from closing.
• Closing Date: Expected on or about October 21, 2025, or earlier; must occur no later than 45 days after the release.
• Regulatory Framework: Offering relies on NI 45‑106 listed issuer financing exemption (excluding Québec) and U.S. private placement exemptions where applicable.
• Use of Proceeds: Primarily for civil engineering work to advance the Great Atlantic Salt Project toward development; remainder for general corporate and working capital purposes.
• Insider Participation: Insiders are expected to participate, constituting a related‑party transaction under MI 61‑101; exemptions from formal valuation/minority shareholder requirements will be relied upon (issuance ≤ 25% of market cap).
• Conditions to Closing: Subject to receipt of all required approvals, including TSX Venture Exchange approval.

Notable Quotes

(No direct quotes were provided in the release.)