Atlas Salt Announces Closing of Brokered LIFE Private Placement and Participation of Strategic Investor

On October 21, 2025, Atlas Salt announced the closing of its previously announced brokered private placement. The company issued 10,880,500 common shares at a price of C$0.80 per share for gross proceeds of C$8,704,400. The financing was conducted under the Listed Issuer Financing Exemption (LIFE). The news release highlights the participation of an unnamed "strategic investor." The proceeds will be used for civil engineering work to advance the Great Atlantic Salt Project and for general corporate purposes. In connection with the financing, the company paid C$522,264 in cash fees and issued 652,830 broker warrants, each exercisable at C$0.80 for 24 months.

This news is materially positive as it successfully secures necessary funding and removes a near-term financing overhang, allowing the company to proceed with its stated development plans.

Atlas Salt Inc. is a Canadian mineral development company focused on its 100%-owned flagship Great Atlantic Salt Project in western Newfoundland. The project aims to develop a high-purity, flat-lying salt deposit into a long-life, low-cost underground salt mine. Its strategic location near a deep-water port is a key advantage for accessing the large North American road de-icing market. The September 2025 Updated Feasibility Study outlines a 24-year mine life producing 4.0 million tonnes per year, with a post-tax NPV8 of C$920 million and an IRR of 21.3%.