Business
Atlas Salt Announces Order Book Interest Exceeding Targeted Gross Proceeds of $8,000,000 on LIFE Private Placement
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Atlas Salt Inc
[{"type":"text","content":"Atlas Salt Announces Order Book Interest Exceeding Targeted Gross Proceeds of $8,000,000 on LIFE Private Placement\n\n\n\n\n\n THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n ST. GEORGE'S, Newfoundland and Labrador, Oct. 14, 2025 (GLOBE NEWSWIRE) --\n \n Atlas Salt Inc. (“Atlas Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF; FRA:9D00)\n \n announces that order book interest for its previously disclosed private placement offering currently stands at approximately $8,041,000, exceeding the previously announced targeted gross proceeds of $8,000,000. Atlas Salt expects it will issue at minimum 10,000,000 common shares of the Company (“Common Shares”) at a price of $0.80 per Common Share (“Offering Price”) for aggregate gross proceeds of $8,000,000 (the “Offering”), excluding any additional Common Shares issued pursuant the exercise of the Agents’ Option (as defined below).\n \n\n The offering is co-led and joint bookrun by Raymond James Ltd. and Ventum Financial Corp., on behalf of a syndicate of agents (collectively, the “Agents”), which included Desjardins Capital Markets.\n \n\n The Company has also granted the Agents an option (the “Agents’ Option”) to sell up to an additional 1,500,000 Common Shares for additional gross proceeds of up to $1,200,000, exercisable in whole or in part, any time up to 48 hours prior to the closing of the Offering. The Agents shall be under no obligation, in whole or in part, to exercise the Agents’ Option.\n \n\n The Company has agreed to pay to the Agents a cash commission equal to 6.0% of the gross proceeds of the Offering. The Company has also agreed to issue to the Agents that number of compensation options (“Compensation Options”) equal to 6.0% of the aggregate number of Shares issued by the Company under the Offering. Each Compensation Option is exercisable to acquire one Common Share at a price equal to the Offering Price for a period of 24 months from the closing date of the Offering.\n \n\n Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -\n \n Prospectus Exemptions\n \n (“NI 45-106”), the Offering will be of...