ST. GEORGE'S, Newfoundland and Labrador, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT, OTCQB:REMRF, FRA:9D00)) announces that it has entered into an agreement with Raymond James Ltd. and Ventum Financial Corp. (collectively, the "Agents"), to act as co-leads and joint bookrunners, in connection with a commercially reasonable efforts private placement offering for up to 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 up to $8,000,000 (the "Offering").
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.
The Company has agreed to pay to the Agents a cash commission equal to 6% 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.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering will be offered for sale to purchasers resident in all of the provinces of Canada with the exception of Québec pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The securities issuable from the sale of the Offering are expected to be immediately freely tradeable in ...
