Atlas Salt (TSX-V:SALT) has amended an agreement with Ventum Financial Corp and Raymond James, as co-lead underwriters, to increase the size of an underwritten bought deal financing.
The company will now raise C$15 million ($15.07 million) via the issuance of 12.5 million common shares at C$1.20 per share. The offering is scheduled to close on or about 11 June 2026.
In late May 2026, the company closed a non-brokered private placement, raising C$1.25 million for Canadian exploration expenses.
As reported by Mining.com.au, SGS Lakefield conducted analysis on a bulk sample retrieved from the Black Bay Property, indicating that nepheline is potentially amenable to processing as a ‘high-value’ product.
Nepheline is an industrial mineral and a source of aluminium, sodium, and potassium. This mineral is used primarily in the manufacture of glass, ceramics, extenders, and fillers.
There is only one mine currently in production in North America that hosts a commercial nepheline deposit, located at Blue Mountain in Ontario.
Atlas Salt is focused on innovation and efficiency through contributing to the North American salt market.
Write to Aaliyah Rogan at Mining.com.au
Images: Atlas Salt
