Atlas Salt Secures $1,000,000 in ACOA Funding for Low Emission Mine Design & Optimization Initiative for Great Atlantic Salt Project
Atlas Salt (TSXV:SALT)(OTCQB:REMRF) has secured a C$1,000,000 conditionally repayable loan from the Atlantic Canada Opportunities Agency (ACOA) under the Regional Economic Growth through Innovation program. The funding will support the company's Mine Design and Optimization Initiative at the Great Atlantic Salt Project, focusing on reducing greenhouse gas emissions and implementing sustainable mining technologies.
The loan is repayable over five years, starting six months after commercial sales revenues begin, and will cover 50% of eligible costs. The Great Atlantic Salt Project, being developed on Newfoundland and Labrador's west coast, is set to become the first major salt producer in Eastern North America in decades. The project is expected to create 300 full-time construction jobs and 170 permanent positions during operations.
Atlas Salt (TSXV:SALT)(OTCQB:REMRF) ha ottenuto un prestito di C$1.000.000 rimborsabile con condizioni dall'Atlantic Canada Opportunities Agency (ACOA) nell'ambito del programma di Crescita Economica Regionale attraverso l'Innovazione. Il finanziamento sosterrà l'iniziativa di Progettazione e Ottimizzazione della Miniera presso il Great Atlantic Salt Project, concentrandosi sulla riduzione delle emissioni di gas serra e sull'implementazione di tecnologie minerarie sostenibili.
Il prestito è rimborsabile in un periodo di cinque anni, a partire da sei mesi dopo l'inizio dei ricavi dalle vendite commerciali, e coprirà il 50% dei costi ammissibili. Il Great Atlantic Salt Project, in fase di sviluppo sulla costa occidentale di Terranova e Labrador, dovrebbe diventare il primo grande produttore di sale nell'Est del Nord America dopo decenni. Si prevede che il progetto creerà 300 posti di lavoro a tempo pieno per l'edilizia e 170 posti di lavoro permanenti durante le operazioni.
Atlas Salt (TSXV:SALT)(OTCQB:REMRF) ha asegurado un préstamo reembolsable condicional de C$1,000,000 de la Atlantic Canada Opportunities Agency (ACOA) bajo el programa de Crecimiento Económico Regional a través de la Innovación. La financiación apoyará la Iniciativa de Diseño y Optimización de Minas en el Great Atlantic Salt Project, centrándose en la reducción de emisiones de gases de efecto invernadero e implementando tecnologías mineras sostenibles.
El préstamo deberá ser reembolsado en un plazo de cinco años, comenzando seis meses después de que inicien los ingresos por ventas comerciales, y cubrirá el 50% de los costos elegibles. El Great Atlantic Salt Project, que se desarrolla en la costa oeste de Terranova y Labrador, está previsto que se convierta en el primer gran productor de sal en el Este de América del Norte en décadas. Se espera que el proyecto genere 300 empleos de construcción a tiempo completo y 170 puestos permanentes durante las operaciones.
아틀라스 솔트 (TSXV:SALT)(OTCQB:REMRF)는 대서양 캐나다 기회청 (ACOA)로부터 지역 경제 성장 혁신 프로그램에 따라 C$1,000,000의 조건부 상환 대출을 확보했습니다. 이 자금은 그레이트 아틀란틱 솔트 프로젝트의 광산 설계 및 최적화 이니셔티브를 지원하며, 온실가스 배출 감소와 지속 가능한 채굴 기술 구현에 초점을 맞추고 있습니다.
대출은 판매 수익이 시작된 후 6개월부터 5년 동안 상환되며, 적격 비용의 50%를 지원합니다. 뉴펀들랜드와 래브라도 서해안에서 개발 중인 그레이트 아틀란틱 솔트 프로젝트는 수십 년 만에 북미 동부에서 첫 번째 주요 소금 생산자가 될 것으로 예상됩니다. 이 프로젝트는 300개의 건설 일자리를 창출하고 운영 기간 동안 170개의 영구직을 생성할 것으로 기대됩니다.
Atlas Salt (TSXV:SALT)(OTCQB:REMRF) a obtenu un prêt remboursable conditionnel de 1 000 000 $CAD de la Atlantic Canada Opportunities Agency (ACOA) dans le cadre du programme de Croissance Économique Régionale grâce à l'Innovation. Ce financement soutiendra l'Initiative de Design et d'Optimisation de Mine au sein du Great Atlantic Salt Project, axé sur la réduction des émissions de gaz à effet de serre et l'implémentation de technologies minières durables.
Le prêt est remboursable sur cinq ans, commençant six mois après le début des revenus de ventes commerciales, et couvrira 50 % des coûts éligibles. Le Great Atlantic Salt Project, actuellement en développement sur la côte ouest de Terre-Neuve-et-Labrador, devrait devenir le premier grand producteur de sel dans l'est de l'Amérique du Nord en plusieurs décennies. Le projet devrait créer 300 emplois de construction à temps plein et 170 postes permanents pendant les opérations.
Atlas Salt (TSXV:SALT)(OTCQB:REMRF) hat ein bedingt rückzahlbares Darlehen in Höhe von 1.000.000 kanadischen Dollar von der Atlantic Canada Opportunities Agency (ACOA) im Rahmen des Programms für regionales Wirtschaftswachstum durch Innovation gesichert. Die Finanzierung wird die Initiativen zur Mine-Design und Optimierung im Great Atlantic Salt Project unterstützen, mit dem Ziel, Treibhausgasemissionen zu reduzieren und nachhaltige Bergbautechnologien zu implementieren.
Das Darlehen ist innerhalb von fünf Jahren zurückzuzahlen, beginnend sechs Monate nach Beginn der kommerziellen Verkaufsumsätze und wird 50 % der förderfähigen Kosten abdecken. Das Great Atlantic Salt Project, das an der Westküste von Neufundland und Labrador entwickelt wird, soll der erste große Salzproduzent in Ost-Nordamerika seit Jahrzehnten werden. Es wird erwartet, dass das Projekt 300 Vollzeit-Bauarbeitsplätze und 170 Dauerstellen während des Betriebs schaffen wird.
- Secured C$1,000,000 in government funding for project development
- Project expected to create 300 construction and 170 permanent jobs
- First major salt producer in Eastern North America in decades
- 50% of eligible costs covered by ACOA program
- Loan must be repaid over 5 years after commercial sales begin
- Company responsible for 50% of project costs
ST JOHN'S, NL / ACCESS Newswire / February 5, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is pleased to announce that it has secured a C
ACOA Funding for Low GHG Mine Design Program
In a further step towards the development of the Great Atlantic Salt Project, the Company has secured a C
The initiative is a key part of the Great Atlantic Salt Project, an underground salt mine being developed on the west coast of Newfoundland and Labrador. Once operational, it will be the first major salt producer to launch in Eastern North America in decades and is expected to create up to 300 full-time construction jobs and 170 permanent positions during operations.
Key details of the ACOA loan include:
Amount: C
$1,000,000 Repayment Terms: Repayable over five years, starting six months after commercial sales revenues are achieved.
Cost Sharing: The program will cover
50% of the eligible costs incurred by the Company.
This funding from ACOA aligns with Canada's commitment to fostering sustainable economic growth and resource development in Atlantic Canada. By advancing next-generation mining solutions, Atlas Salt is contributing to the region's long-term prosperity and environmental leadership.
Richard LaBelle, CEO of Atlas Salt, commented: "This initiative is not just about innovation, it's about building a stronger, more sustainable future for Newfoundland and Labrador. By integrating advanced automation and low-emission mining technologies, we are creating new economic opportunities while minimizing environmental impact. Thanks to ACOA's support, the Great Atlantic Salt Project is moving one step closer to becoming a world-class operation that will benefit our province for generations."
The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, said: "This investment from your federal government is about helping Atlas Salt find new ways to boost our economy here in Newfoundland and Labrador. Mining has been part of our history for generations; embracing new technologies, we are setting the stage for an even brighter future right here at home."
For further information and ongoing updates, please visit https://atlassalt.com.
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.
SOURCE: Atlas Salt Inc.
View the original press release on ACCESS Newswire
FAQ
What is the value and purpose of ACOA funding received by Atlas Salt (REMRF)?
How many jobs will the Atlas Salt (REMRF) Great Atlantic Project create?
What are the repayment terms for Atlas Salt's (REMRF) ACOA loan?
Where is Atlas Salt's (REMRF) Great Atlantic Salt Project located?
