Atlas Salt Announces Order Book Interest Exceeding Targeted Gross Proceeds of $8,000,000 on LIFE Private Placement

Core Viewpoint - Atlas Salt Inc. has announced a private placement offering with order book interest reaching approximately $8,041,000, surpassing the targeted gross proceeds of $8,000,000 [1] Group 1: Offering Details - The company plans to issue a minimum of 10,000,000 common shares at a price of $0.80 per share, aiming for aggregate gross proceeds of $8,000,000 [1] - The offering is co-led by Raymond James Ltd. and Ventum Financial Corp., along with a syndicate of agents including Desjardins Capital Markets [2] - The Agents have an option to sell up to an additional 1,500,000 common shares for gross proceeds of up to $1,200,000, exercisable up to 48 hours before the closing [3] Group 2: Financial Terms - The company will pay a cash commission of 6.0% on the gross proceeds of the offering and issue compensation options equal to 6.0% of the shares issued [4] - The net proceeds from the offering will be allocated for civil engineering work related to the Great Atlantic Salt Project and for general corporate purposes [7] Group 3: Regulatory and Closing Information - The offering will be available to purchasers in all Canadian provinces except Québec and may also be sold in offshore jurisdictions and the U.S. under certain exemptions [5] - The offering is scheduled to close on or about October 21, 2025, subject to necessary approvals, including from the TSX Venture Exchange [8] Group 4: Insider Participation - Certain insiders are expected to participate in the offering, which will be classified as a related party transaction, relying on exemptions from formal valuation and minority shareholder requirements [9] Group 5: Company Overview - Atlas Salt is focused on developing Canada's next salt mine, emphasizing responsible and sustainable mining practices while aiming to contribute significantly to the North American salt market [12]