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Atlas Salt|Canada|Great Atlantic Salt|Mining|Nolan Peterson|Newfoundland
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atlas-salt|canada|great-atlantic-salt|mining|nolan-peterson|newfoundland

Salt mine developer Atlas Salt raises C$15m for early works in Newfoundland

Salt mining operation

Salt mining operation

12th June 2026

By: Marleny Arnoldi

Online News Editor

     

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Canada's next salt mine developer Atlas Salt has closed a bought deal offering of common shares of the company, raising gross proceeds of C$15.1-million.

The offering comprised 12.6-million common shares at a price of C$1.20 apiece on the TSX-V.

Atlas Salt CEO Nolan Peterson says the successful closing of this upsized bought deal offering reflects strong market confidence in Atlas Salt and the Great Atlantic Salt project. 

"It also reflects the significant progress we have made in advancing the project toward full scale construction. The proceeds from this financing will enable us to accelerate our ongoing early works and site preparation programme, advance detailed engineering, and advance project financial initiatives. We are well-positioned to deliver on our near-term development milestones and to create lasting value for our new and existing shareholders," Peterson affirms.

Atlas Salt is targeting initial commercial production at its Great Atlantic Salt project in Newfoundland by 2030, with full production capacity anticipated by 2032. The mine will produce an average of four-million tons of salt a year over an expected 24-year mine life.

 

 

Edited by Creamer Media Reporter

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