Atlas Salt closes $8.7-million private placement

Mr. Jeff Kilborn reports ATLAS SALT ANNOUNCES CLOSING OF BROKERED LIFE PRIVATE PLACEMENT AND PARTICIPATION OF STRATEGIC INVESTOR Atlas Salt Inc. has closed its brokered private placement financing, previously announced on Oct. 14, 2025, raising gross proceeds of $8,704,400. Under the offering, 10,880,500 common shares of the company at a price of 80 cents per common share were issued pursuant to National Instrument 45-106, Prospectus Exemptions, in accordance with Part 5A of NI 45-106, as amended by the Canadian Securities Administrators' Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The common shares offered under the listed issuer financing exemption are not subject to a hold period in accordance with applicable Canadian securities laws. Participants in the offering included a strategic investor with which the company is excited to build and strengthen its relationship. This investor's interest in the company and its flagship Great Atlantic salt project aligns with its long-term strategic objectives. Nolan Peterson, chief executive officer of Atlas Salt, commented: "The commitment and interest of both new and existing shareholders underscores the strength of the results of our recent updated feasibility study, which demonstrated improved project economics and cash flow potential at Great Atlantic, in conjunction with significant derisking. The participation of this strategic investor marks a major milestone for the company and further reinforces our confidence in the direction we are taking with the Great Atlantic salt project. The rapid and positive response to the updated feasibility study, the resulting market interest and the rapid closing of this financing have provided us with a timely opportunity to advance our early works program. Collectively, these developments position Atlas Salt as an increasingly attractive investment opportunity." The offering was conducted pursuant to the terms of an agency agreement entered into among the company and Raymond James Ltd., as co-lead agent and joint bookrunner, and Ventum Financial Corp., as co-lead agent and joint bookrunner, on behalf of a syndicate of agents, including Desjardins Capital Markets. As consideration for their services, the company has paid the agents an aggregate cash fee totalling $522,264. The company also issued to the agents an aggregate of 652,830 compensation warrants, with each compensation warrant entitling the holder thereof to acquire one common share at the offering price for a period of 24 months from the closing date of the offering. The net proceeds received from the offering will be used for civil engineering work related to advancing the Great Atlantic salt project toward development and for general corporate and working capital purposes, as further described in the offering document in connection with the offering, which can be accessed under the company's profile on SEDAR+ and on the company's website. As previously disclosed, certain insiders of the company participated in the offering and such participation by insiders constitutes a related party transaction as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation and minority shareholder requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities issued under the offering nor the consideration paid by insiders of the company exceeds 25 per cent of the company's market capitalization. About Atlas Salt Inc. Atlas Salt is developing Canada's next salt mine, and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. We seek Safe Harbor.