Business
Atlas Salt Announces Closing of Brokered LIFE Private Placement and Participation of Strategic Investor
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE ...
About this update from Atlas Salt Inc
[{"type":"text","content":"Atlas Salt Announces Closing of Brokered LIFE Private Placement and Participation of Strategic InvestorTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ST. GEORGE'S, NEWFOUNDLAND AND LABRADOR, 479 / ACCESS Newswire / October 21, 2025 / Atlas Salt Inc. (\"Atlas Salt\" or the \"Company\") (TSXV:SALT)(OTCQB:REMRF)(FRA:9D00) announces that it has closed its brokered private placement financing (the \"Offering\") previously announced on October 14, 2025, raising gross proceeds of $8,704,400. Under the Offering, 10,880,500 common shares of the Company (\"Common Shares\") at a price of $0.80 per Common Share (the \"Offering Price\") were issued pursuant to National Instrument 45-106 Prospectus Exemptions (\"NI 45-106\") 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 \"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 whom 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, CEO 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 de-risking. 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 agreem...