Atlas Salt arranges $8-million private placement

Executive Summary

• Atlas Salt Inc. announced a private placement to raise up to $8 million by selling up to 10 million common shares at C$0.80 per share, with an additional over‑allotment option for 1.5 million shares ($1.2 M).
• The offering is being led by Raymond James Ltd. and Ventum Financial Corp., who will receive a 6% cash commission plus 6% compensation options on the issued shares.
• Net proceeds are earmarked for civil‑engineering work to advance the Great Atlantic salt project and for general corporate/working‑capital purposes.

Key Details

• Offering Size: Up to 10 M common shares; target gross proceeds $8 M (C$0.80 per share).
• Over‑Allotment Option: Agents may sell an additional 1.5 M shares for up to $1.2 M, exercisable up to 48 hours before closing.
• Commission & Compensation:
• Cash commission – 6% of gross proceeds.
• Compensation options – 6% of the aggregate number of shares issued, exercisable at the offering price for 24 months post‑closing.
• Lead Underwriters / Bookrunners: Raymond James Ltd. and Ventum Financial Corp. (co‑leads & joint bookrunners).
• Regulatory Framework: Offered under NI 45‑106 listed issuer financing exemption; available to Canadian investors (excluding Quebec) and offshore/U.S. accredited investors.
• Minimum Raise: $5 M required for the offering to proceed.
• Closing Date: Expected on or about Oct. 21, 2025, or earlier, but no later than 45 days after the news release.
• Use of Proceeds:
• Civil‑engineering work for the Great Atlantic salt project (development phase).
• General corporate and working‑capital purposes.
• Related Party Participation: Insiders expected to participate; transaction qualifies as a related‑party under MI 61‑101, with exemptions applied because fair market value and consideration will not exceed 25% of market cap.

Notable Quotes

(No direct quotes were provided in the release.)