Atlas Salt and Triple Point Enter Into Arrangement Agreement
ATLAS SALT AND TRIPLE POINT ENTER INTO ARRANGEMENT AGREEMENT St. John’s, Newfoundland and Labrador, July 25, 2022 – Atlas Salt Inc. (TSXV: SALT) (OTCQB: REMRF) (the “Company” or “Atlas Salt”) is pleased to announce that it has entered into a definitive arrangement agreement (the “Agreement”) with Triple Point Resources Ltd. (“Triple Point”) with respect to the spin-out of the Company’s Fischell’s Brook Salt Dome Property and related mineral licenses comprising 226 sq. km in southwest Newfoundland. Pursuant to the Agreement, the Company agreed to distribute 23,750,000 common shares of Triple Point to the shareholders of the Company on a pro-rata basis. The distribution of the Triple Point common shares to the Company’s shareholders is to be completed pursuant to a court-approved plan of arrangement. Atlas Salt will maintain a significant ownership position in Triple Point following the share distribution. Triple Point has applied to list its common shares on the CSE […]