Atlas Salt Receives Court Approval for Plan of Arrangement With Triple Point Resources Ltd.

The Company has set 12:01 a.m. on September 22, 2022, as the effective time and date for the closing of the Arrangement. Shareholders of record as at the close of business on September 21, 2022, will be entitled to receive one Triple Point share for approximately 3.58 Atlas shares owned. The exact number of Triple Point shares to be issued for each Atlas Salt share will be determined on the effective date.

Triple Point has applied to list its shares on the Canadian Securities Exchange which is subject to Triple Point meeting all listing requirements.

About Atlas Salt

Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource. Atlas Salt also owns the Fischell's Brook salt dome and other related mineral licenses in western Newfoundland, forming the proposed spin-out of Triple Point Resources Ltd.

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Forward-Looking Statements

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