en.Wedoany.com Reported - Canadian salt company Atlas Salt Inc. (TSXV: SALT) announced the completion of a bought deal offering, raising total gross proceeds of C$15,153,600 through the issuance of 12,628,000 common shares at a price of C$1.20 per share. The offering was conducted under the Listed Issuer Financing Exemption, and the common shares issued are not subject to a hold period under Canadian securities laws.

Pursuant to an underwriting agreement between the company and Ventum Financial Corp. and Raymond James Ltd., the offering included an underwriters' option to purchase up to an additional 1,079,000 common shares at the offering price, which was partially exercised for 128,000 shares. The company paid a total cash consideration of C$929,216 to the underwriters in connection with the offering.

Net proceeds from the offering will be used for early engineering and site preparation activities at the Great Atlantic Salt Project, detailed engineering design and mine development planning, advancing permitting and environmental workflows, procurement planning and equipment studies, advancing project financing plans, as well as general corporate purposes and working capital.

Nolan Peterson, CEO of the company, stated that the offering demonstrates market confidence in Atlas Salt and the Great Atlantic Salt Project, and that the funds raised will accelerate project advancement and create lasting value for shareholders.

The offering remains subject to final approval from the TSX Venture Exchange.

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