Atlas Salt Secures Property for Mine Infrastructure
Rhea-AI Summary
Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has purchased key land parcels for its Great Atlantic Salt Project. The acquisition includes approximately 100 hectares of privately held vacant lots, with plans to develop only a small portion for mine infrastructure. This strategic move secures essential surface rights for mine site construction and future production, including areas for the boxcut and mine portals. The purchase is expected to support ongoing discussions with potential financing sources and advance the project's development, ultimately aiming to unlock shareholder value. Atlas Salt intends to maintain most of the acquired land as an undisturbed buffer around the mine site.
Positive
- Secured key surface rights for mine construction and production
- Acquired 100 hectares of land for project development
- Strategic purchase supports discussions with potential financing sources
- Advances project construction phase
Negative
- None.
News Market Reaction
On the day this news was published, REMRF declined 5.97%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ST. JOHN'S, NL / ACCESSWIRE / September 6, 2024 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is pleased to announce that it has purchased certain parcels of land for the Great Atlantic Salt Project (the "Project").
The parcels are privately held vacant lots comprising in aggregate approximately 100 hectares, of which Atlas Salt intends to develop only a small portion, leaving the remaining area as an undisturbed buffer around the mine site. The parcels include the areas required for the boxcut and mine portals. With the purchase of these parcels, Atlas Salt has secured the key surface rights required for mine site construction and, ultimately, production. The purchase supports the Company's strategic discussions with various parties, including potential sources of financing, allowing the Company to advance the Project's construction and unlocking shareholder value.
For further information and ongoing updates, please visit https://atlassalt.com/. A copy of the ESG Report will be available for download on Atlas Salt's website.
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:
Richard LaBelle, CEO
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, 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
View the original press release on accesswire.com
FAQ
What land has Atlas Salt (REMRF) acquired for the Great Atlantic Salt Project?
How much of the acquired land will Atlas Salt (REMRF) develop for the mine?
How does the land acquisition benefit Atlas Salt's (REMRF) Great Atlantic Salt Project?
When did Atlas Salt (REMRF) announce the land acquisition for the Great Atlantic Salt Project?
