Atlas Salt Issues Stock Options

Rhea-AI Summary

Atlas Salt has announced two significant corporate developments. The company has granted 200,000 stock options to a director, which can be exercised at 46 cents per share over a three-year period. Following this grant, Atlas Salt maintains 4,384,531 shares reserved for issuance under its equity compensation plans.

Additionally, the company has initiated its search for a new CEO and has engaged a specialized professional recruitment firm focusing on mining-financial placements. The search process is actively progressing with candidate screening underway. In the interim, Patrick Laracy, the Chairman, has stepped in as temporary CEO.

Positive

• Active CEO recruitment process underway with professional mining-focused recruitment firm

Negative

• Stock option grant of 200,000 shares at $0.46 indicates potential dilution for existing shareholders
• Interim CEO arrangement suggests leadership uncertainty

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / April 29, 2025 / Atlas Salt Inc. (the "Company" or "Atlas Salt") (TSXV:SALT)(OTCQB:REMRF) announces that it has granted 200,000 stock options to a director exercisable at 46 cents for a period of three years. The Company has 4,384,531 remaining shares reserved for issuance pursuant to its equity compensation plans following this grant.

Regarding the search for a new CEO, the Company has retained the services of a professional recruitment firm with a specialty in mining - financial placements. That process is well underway with the screening of candidates. The Chairman, Patrick Laracy, has been appointed CEO on an interim basis.

About Atlas Salt Inc.

Atlas Salt Inc. 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:

Patrick Laracy, Chairman
investors@atlassalt.com
(709) 739-9545

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: 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, contract agreements, 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.

SOURCE: Atlas Salt Inc.

View the original press release on ACCESS Newswire

FAQ

How many stock options did Atlas Salt (REMRF) grant in April 2025?

Atlas Salt granted 200,000 stock options to a director, exercisable at 46 cents per share for a three-year period.

What is the exercise price and duration of Atlas Salt's April 2025 stock options?

The stock options are exercisable at 46 cents per share and have a duration of three years.

How many shares does Atlas Salt (REMRF) have remaining for equity compensation plans?

Following the April 2025 stock option grant, Atlas Salt has 4,384,531 shares remaining reserved for issuance under its equity compensation plans.

Who is serving as interim CEO of Atlas Salt (REMRF) during the leadership search?

Patrick Laracy, the Chairman of Atlas Salt, has been appointed as interim CEO while the company searches for a permanent CEO.

What steps is Atlas Salt taking to find a new CEO in 2025?

Atlas Salt has hired a professional recruitment firm specializing in mining-financial placements to conduct the CEO search, and the screening of candidates is currently in progress.