Arizona Tribune - Atlas Salt Receives Letters of Interest for Great Atlantic Salt Project Financing and Provides Financing Update

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 Update

Endeavour 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 Options

Additionally, 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 Option Plan. The Options vest quarterly over one year, expire in one year and have an exercise price of $0.50. The Company has 2,030,506 remaining shares reserved for issuance following this grant.

About Atlas Salt

Atlas Salt is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the Company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.

For information, please contact:

Jeff Kilborn, CFO & VP Corporate Development
[email protected]
(709) 275-2009

We seek safe harbor.

Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Atlas Salt Inc.

View the original press release on ACCESS Newswire

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