Atlas Salt Secures C$15M in Upsized Deal Amid Strong Investor Demand

ST. GEORGE'S, NL – June 01, 2026 – Atlas Salt Inc. (TSXV: SALT) has significantly bolstered its financial position, announcing that its previously declared bought deal offering has been upsized by 50% to C$15 million due to overwhelming investor demand. The move signals powerful market confidence in the company's strategy and its flagship Great Atlantic Salt Project, a venture poised to become Canada's next major salt mine.

The financing, co-led by underwriters Ventum Financial Corp. and Raymond James Ltd., involves the purchase of 12,500,000 common shares at a price of C$1.20 per share. This injection of capital is a critical catalyst, intended to propel the Great Atlantic project from advanced planning into tangible, on-the-ground development.

A Market Roaring with Confidence

The decision to increase the offering from C$10 million to C$15 million is a direct reflection of a bullish market sentiment surrounding Atlas Salt. A "bought deal" financing, where underwriters commit to purchasing the entire offering, already indicates a high degree of confidence. Upsizing such a deal suggests that investor appetite far exceeded initial expectations, providing a resounding endorsement of the company's trajectory and the intrinsic value of its assets.

This confidence is mirrored in the company's recent stock performance. Shares of Atlas Salt have seen a remarkable 250% appreciation over the past year, trading between a 52-week low of C$0.355 and a high of C$1.43. The strong performance has captured the attention of financial analysts, with at least one issuing a "Strong Buy" rating and a 12-month price target of C$2.50, implying a potential upside of nearly 88% from its late-May trading price.

The C$15 million infusion is strategically vital, directly addressing previous concerns regarding the company's cash runway. This financing provides the necessary capital to fund operations and de-risk the project's next stages without immediate pressure to return to the market. It is the latest in a series of successful capital raises, including a C$8.7 million private placement in October 2025, demonstrating a consistent ability to attract significant investment.

Fueling the Great Atlantic Engine

The net proceeds from the offering are earmarked for a slate of critical activities that will accelerate the Great Atlantic Salt Project's development timeline. The funds will be deployed for early works and site preparation, building on activities that commenced in February 2026. This moves the project from feasibility studies into physical reality.

A significant portion will also be dedicated to detailed engineering and mine development planning. This involves translating the blueprint laid out in the updated Feasibility Study of November 2025 into precise, actionable plans for extraction, processing, and logistics. The project, recognized as one of North America's largest undeveloped salt deposits, benefits from a strategic location near deep-water ports, a key competitive advantage for accessing the high-demand de-icing and industrial salt markets of the continent's eastern seaboard.

Furthermore, the capital will advance crucial permitting and environmental workstreams, navigate complex regulatory approvals, and support procurement planning for essential equipment. By funding these parallel activities, Atlas Salt aims to streamline its path to a final investment decision and, ultimately, production.

Beyond the Balance Sheet: A Blueprint for Modern Mining

In an era where environmental, social, and governance (ESG) metrics are paramount, Atlas Salt is positioning the Great Atlantic project as a model for responsible resource development. The company has proactively published reports addressing its ESG framework, supply chain labor practices, and greenhouse gas emissions, signaling a commitment to transparency and sustainability.

Critically, the use of proceeds from this C$15 million financing explicitly allocates funds toward the "advancement of permitting and environmental workstreams." This directly links the new capital to the company's stated ESG goals, demonstrating a tangible investment in ensuring the project meets or exceeds modern environmental standards. This approach aims to secure not only regulatory approval but also a social license to operate by integrating ecological stewardship and community engagement into the core of its development strategy.

This commitment to responsible practices is becoming a key differentiator for attracting long-term, institutional capital and is central to the company's vision of creating a sustainable legacy in Newfoundland.

The offering is scheduled to close on or about June 11, 2026, subject to customary conditions, including the final approval of the TSX Venture Exchange. With capital secured and key financial partners aligned, Atlas Salt is now strongly positioned to aggressively advance the Great Atlantic project through its next critical phases of development, aiming to unlock the full value of one of North America's most significant undeveloped salt deposits.