ST. JOHN’S, Newfoundland and Labrador, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Atlas Salt (the “Company” or “Atlas” – TSXV: SALT; OTCQB: REMRF) shareholders approved all resolutions at the annual general and special meeting of shareholders today in St. John’s. All individuals nominated for the board of directors were elected, being Rick LaBelle, Patrick Laracy, Rowland Howe, Carson Noel, Fraser Edison and Marc Boissonneault.
The Company welcomes Mr. Boissonneault P.Eng. MBA to the Board. Mr. Boissonneault is an accomplished mining industry professional with extensive experience in leading major mining operations and capital projects in a global context. He has a proven track record of consistently delivering strong operating and capital project results while maintaining the highest standards of HSEC. Businesses under his responsibility were recognized for industry leading safety performance (multiple John T. Ryan Awards in Canada) and have performed to the highest standards environmentally. Over his considerable 35-year career he has overseen the operation of nine underground mines, two open pit mine complexes and five mining projects, with several being based in logistically challenged jurisdictions. Mr. Boissonneault’s career included roles with Falconbridge, Xstrata and Glencore where he was Head of Global Nickel Assets responsible for the company’s global nickel operations including a capital expenditure program of $3 billion. Mr. Boissonneault is also a director at Invest Ontario, holds an engineering degree from McMaster University and a MBA from Queen’s University. In addition, Mr. Boissonneault is a professional engineer licensed by the Professional Engineers of Ontario.
The Company also acknowledges former Director Mr. John Anderson for his contributions over the last three years and wishes him continued success in his other business endeavors including his role as Chairman of Triple Point Resources Ltd., an affiliated company, as it pursues underground storage opportunities for the Fischell’s Salt Dome project, approximately 15 kilometers south of Atlas’s Great Atlantic Salt development in western Newfoundland.
Shareholders also appointed MNP LLP Chartered Accountants as its auditor for 2023 and approved the company's amended stock option plan and a new equity incentive plan (together, the “Plans”), subject to final approval of the TSX Venture Exchange. The aggregate number of common shares that may be reserved for issuance under Plans must not exceed 10% of the Company’s issued and outstanding common shares at the date of grant or issuance of any security-based compensation under the Plans.
The Equity Incentive Plan allows for the granting of restricted share units, deferred share units and performance share units to attract, retain and motivate qualified directors, employees and consultants of the Company and to reward such of those directors, employees and consultants from time to time for their contributions toward the long term goals and success of the Company.
Shareholders also approved the ratification of the grant of certain preferred share units and restricted share units as set out in the 2023 Management Information Circular dated November 3, 2023 and filed under Atlas Salt’s profile on SEDAR+ at www.sedarplus.ca.
About Atlas Salt
Bringing the Power of SALT to Investors: 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 de-icing market. Based upon the results of a recent positive feasibility study for mine development, the Company is currently advancing the project towards construction and production.
We seek Safe Harbor.
For information, please contact:
Richard LaBelle, CEO
MarketSmart Communications Inc.
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: 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.