Business
Atlas Salt Announces Closing of $15 Million Bought Deal LIFE Offering
St. George's, Newfoundland and Labrador--(Newsfile Corp. - June 11, 2026) - Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) ("Atlas Salt" or the "Company") is pleased to announce that it has closed its bought deal offering (the "Offering") of common shares of the Company (the "Common Shares") previously announced on May 31, 2026 and upsized on June 1, 2026, raising aggregate gross proceeds of C$15,153,600. Under the Offering, 12,628,000 Common Shares at a price of C$1.20 per Common Share
About this update from Atlas Salt Inc
St. George's, Newfoundland and Labrador--(Newsfile Corp. - June 11, 2026) - Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) ("Atlas Salt" or the "Company") is pleased to announce that it has closed its bought deal offering (the "Offering") of common shares of the Company (the "Common Shares") previously announced on May 31, 2026 and upsized on June 1, 2026, raising aggregate gross proceeds of C$15,153,600. Under the Offering, 12,628,000 Common Shares at a price of C$1.20 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 issued under the Listed Issuer Financing Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. Nolan Peterson, CEO of Atlas Salt, commented: "The successful closing of this upsized bought deal offering reflects strong market confidence in Atlas Salt and Great Atlantic Salt Project and the significant progress we have made in advancing the Project toward full scale construction. The proceeds from this financing will enable us to accelerate our ongoing early works and site preparation program, advance detailed engineering, and continue to build momentum with our strategic project partners. We are well-positioned to deliver on our near-term development milestones and to create lasting value for our new and existing shareholders." The Offering was conducted pursuant to the terms of an underwriting agreement entered into among the Company and Ventum Financial Corp. and Raymond James Ltd., as co-lead underwriters and co-lead bookrunners (together, the "Underwriters"). The Offering included an underwriters' option (the "Underwriters' Option") to purchase up to an additional 1,079,000 Common Shares at the Offering Price, which was exercised in part for 128,000 Common Shares. As consideration for their services, the Company has paid the Underwriters an aggregate cash consideration of $929,216. The net proceeds received from the ...