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Atlas Salt Receives Letters of Interest for Great Atlantic Salt Project Financing and Provides Financing Update
ST. GEORGE'S NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / July 22, 2025 / Atlas Salt Inc. ("A...
About this update from Atlas Salt Inc
[{"type":"text","content":"Atlas Salt Receives Letters of Interest for Great Atlantic Salt Project Financing and Provides Financing UpdateST. GEORGE'S NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / July 22, 2025 / Atlas Salt Inc. (\"Atlas Salt\" or the \"Company\") (TSXV:SALT)(OTCQB:REMRF) announces that its project financing advisor, Endeavour Financial, has received signed letters of interest (\"LOIs\") from potential debt financers for the Company's Great Atlantic Salt Project (the \"GAS Project\").This includes LOIs from export credit agencies, signaling early support for the GAS Project's financing framework and a willingness and desire to work with Atlas Salt and Endeavour Financial toward securing project financing. In accordance with confidentiality agreements and for competitive reasons, the identities of these interested parties will remain undisclosed at this time.Nolan Peterson, CEO of Atlas Salt stated: \"Receiving the LOIs from the export credit agencies marks a significant step forward in our ongoing financing efforts with Endeavour Financial. We view this as a strong vote of confidence in the Great Atlantic Salt Project and a meaningful endorsement of its economic and strategic potential.\"The Company will provide updates to stakeholders as appropriate during the financing process.Project Financing UpdateEndeavour Financial was appointed as the Company's project financing advisor for the GAS Project in November 2024 and launched a market outreach process for the debt component of project financing in early 2025. Since that time, multiple institutions have expressed initial interest in participating in the project financing.Third party independent consultants have been engaged to conduct technical, environmental and social diligence and are reviewing the GAS Project.Currently, Endeavour Financial is working with the Company to finalize a comprehensive due diligence / lender information package which will include the signed LOIs, independent due diligence reports, and the Updated Feasibility Study and associated financial model once completed.Issuance of Stock OptionsAdditionally, unrelated to the Company's relationship with Endeavour Financial, the Company has agreed to issue options to a financial consultant to purchase up to 400,000 common shares in the capital of the Company (the \"Options\") pursuant to terms of the Company's Stock Optio...