Atlas Salt Appoints Endeavour Financial as Financial Advisor for the Project Financing of its Great Atlantic Salt Project
Atlas Salt has appointed Endeavour Financial as financial advisor for the Great Atlantic Salt Project financing. The company aims to secure $350-$400 million in senior secured debt, with potential additional subordinated debt. Key 2024 milestones include validation of low-carbon footprint, environmental assessment release, and completion of mine simulation study.
Strategic achievements encompass signing an MOU with Scotwood Industries for 1.25-1.5 Mtpa packaged salt offtake and securing a $73 million MOU with Sandvik Mining for equipment fleet financing. The project has completed several important development steps, including geotechnical drilling, land acquisition, and mining lease securing.
Atlas Salt ha nominato Endeavour Financial come consulente finanziario per il finanziamento del Great Atlantic Salt Project. L'azienda mira a garantire 350-400 milioni di dollari in debito senior garantito, con la possibilità di ulteriore debito subordinato. I principali traguardi del 2024 includono la validazione dell'impatto ambientale a basse emissioni di carbonio, il rilascio della valutazione ambientale e il completamento dello studio di simulazione della miniera.
I risultati strategici includono la firma di un MOU con Scotwood Industries per l'acquisto di sale confezionato da 1.25 a 1.5 Mtpa e la sicurazione di un MOU da 73 milioni di dollari con Sandvik Mining per il finanziamento della flotta di attrezzature. Il progetto ha completato diversi passaggi importanti nello sviluppo, inclusi fori geotecnici, acquisizione di terreni e sicurezza della licenza mineraria.
Atlas Salt ha nombrado a Endeavour Financial como asesor financiero para el financiamiento del Great Atlantic Salt Project. La empresa tiene como objetivo asegurar 350-400 millones de dólares en deuda senior garantizada, con la posibilidad de deuda subordinada adicional. Los hitos clave de 2024 incluyen la validación de la huella de carbono baja, la publicación de la evaluación ambiental y la finalización del estudio de simulación de la mina.
Los logros estratégicos incluyen la firma de un MOU con Scotwood Industries para la compra de sal envasada de 1.25 a 1.5 Mtpa y la aseguración de un MOU de 73 millones de dólares con Sandvik Mining para el financiamiento de la flota de equipos. El proyecto ha completado varios pasos importantes en su desarrollo, incluyendo perforaciones geotécnicas, adquisición de terrenos y aseguramiento del contrato minero.
아틀라스 솔트가 엔데버 파이낸셜을 그레이트 아틀랜틱 솔트 프로젝트의 재정 고문으로 임명했습니다. 이 회사는 3억 5천만에서 4억 달러의 선순위 담보부 채권을 확보하는 것을 목표로 하고 있으며, 추가적인 후순위 채권 가능성도 염두에 두고 있습니다. 2024년의 주요 이정표로는 저탄소 발자국 검증, 환경 평가 발표 및 광산 시뮬레이션 연구 완료가 포함됩니다.
전략적 성과에는 스코트우드 인더스트리와 1.25~1.5 Mtpa의 포장된 소금 매매를 위한 MOU 체결 및 샌드빅 마이닝과 7천3백만 달러의 MOU 확보가 포함됩니다. 이 프로젝트는 지구력 조사, 토지 확보, 광산 임대 계약 체결 등 여러 중요한 개발 단계를 마쳤습니다.
Atlas Salt a nommé Endeavour Financial comme conseiller financier pour le financement du Great Atlantic Salt Project. L'entreprise vise à obtenir 350-400 millions de dollars de dette senior garantie, avec la possibilité de dettes subordonnées supplémentaires. Les étapes clés de 2024 incluent la validation de l'empreinte carbone, la publication de l'évaluation environnementale et l'achèvement de l'étude de simulation de la mine.
Les réalisations stratégiques comprennent la signature d'un MOU avec Scotwood Industries pour l'achat de sel emballé de 1,25 à 1,5 Mtpa et la sécurisation d'un MOU de 73 millions de dollars avec Sandvik Mining pour le financement de la flotte d'équipements. Le projet a accompli plusieurs étapes importantes de développement, y compris des forages géotechniques, l'acquisition de terrains et la sécurisation d'un bail minier.
Atlas Salt hat Endeavour Financial als Finanzberater für die Finanzierung des Great Atlantic Salt Project ernannt. Das Unternehmen strebt an, 350-400 Millionen Dollar an gesicherter Senior-Schulden zu sichern, mit der Möglichkeit zusätzlicher nachrangiger Schulden. Wichtige Meilensteine für 2024 umfassen die Validierung des CO2-Fußabdrucks, die Veröffentlichung der Umweltbewertung und den Abschluss der Bergbausimulation.
Strategische Erfolge beinhalten die Unterzeichnung eines MOU mit Scotwood Industries für den Abnahmevertrag für verpacktes Salz von 1,25 bis 1,5 Mtpa sowie die Sicherung eines MOU im Wert von 73 Millionen Dollar mit Sandvik Mining zur Finanzierung der Gerätschaft. Das Projekt hat mehrere wichtige Entwicklungsschritte erfolgreich abgeschlossen, darunter geotechnische Bohrungen, Flächenakquisition und die Sicherstellung der Bergbaulizenz.
- Secured MOU with Scotwood Industries for 1.25-1.5 Mtpa packaged salt offtake
- Obtained $73 million MOU for fully-financed equipment fleet with Sandvik Mining
- Successfully released from Environmental Assessment process
- Secured mining lease for development and operation
- Completed key technical studies and validations
- Requires substantial financing of $350-400 million in senior secured debt
- Additional subordinated debt may be needed
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESSWIRE / December 10, 2024 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the appointment of Endeavour Financial as its financial advisor to lead the arrangement of project financing for the Great Atlantic Salt Project (the "Project").
Atlas Salt aims to secure
Key 2024 Milestones
Project Highlights
Validated the Project's low-carbon footprint with Stantec Consulting.
Released from the Environmental Assessment process.
Completed mine simulation and verification study with SRK Consulting.
Finalized a de-risked development schedule with Tamkali.
Initiated geotechnical drilling and investigation.
Acquired land and surface leases essential for development.
Secured mining lease to facilitate the development and operation of the mine.
Strategic Achievements
Published an independent economic impact study by Jupia Consultants.
Released an inaugural ESG Report.
Signed an MOU with Scotwood Industries for 1.25-1.5 Mtpa packaged salt offtake.
Secured a
$73 million MOU for a fully-financed equipment fleet with Sandvik Mining and Rock Solutions.
Richard LaBelle, CEO, stated "I'm proud of what the Company and team have accomplished in 2024. After a comprehensive and thorough selection process, we are confident that Endeavour Financial is the right advisor and partner to secure the optimal project financing and inter-creditor solution for the Great Atlantic Salt Project. This is a generational, long-life opportunity, and with strong relationships already established with potential lenders, the time is right to bring in a trusted partner to guide us through the final steps of the financing process."
George Pyper, Managing Director of Endeavour Financial, added "The Great Atlantic Salt Project is an exceptional undertaking, and Atlas Salt has made significant strides to position itself for success. We are very encouraged about structuring financing facilities tailored to this long-life, low-impact, scalable operation. With its robust design and stable cash flow potential, the Project presents a compelling opportunity for long-tenor debt financing."
For further information and ongoing updates, please visit https://atlassalt.com.
For further information about Endeavour Financial, please visit https://endeavourfinancial.com/.
About Endeavour Financial
Endeavour Financial is a private independent merchant banking company focused on providing expert and unbiased financial advisory services to the global natural resources sector. Founded in 1988, Endeavour Financial has a history of achieving success for clients based on resource industry focus, innovative transaction skills and the diverse professional backgrounds of its award-winning team. Offering advice in project, corporate and debt capital markets; equity-linked financings; mergers and acquisitions; and strategic business development over more than three decades, Endeavour Financial has established itself as a leading financial advisor in the natural resources sector, and has closed more mine development financing transactions in the past five years than any other advisor.
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: obtaining financing, 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
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