ST. GEORGE'S, Newfoundland and Labrador, May 31, 2026 (GLOBE NEWSWIRE) -- Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT, OTCQX:SALQF, FRA:9D00)) announces that it has entered into an agreement with Ventum Financial Corp. on behalf of itself and Raymond James Ltd., as co-lead underwriters and co-lead bookrunners (together, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, an aggregate of 8,333,400 common shares of the Company ("Common Shares") at a price of $1.20 per Common Share ("Offering Price") for aggregate gross proceeds of $10,000,080 (the "Offering").
The Company has also granted the Underwriters an option (the "Underwriter's Option") to purchase up to an additional 15% of the Common Shares at the Offering Price, exercisable in whole or in part at any time up to 48 hours prior to the closing 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 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 Common Shares issuable pursuant to the Offering will not be subject to a hold period under applicable Canadian securities legislation. The Common Shares may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act").
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