ST. JOHN’S, Newfoundland and Labrador, Sept. 1, 2022 (GLOBE NEWSWIRE) — Atlas Salt Inc. (TSXV: SALT) (OTCQB: REMRF) (the “company” or “Atlas Salt’) is pleased to announce that holders of common shares of Atlas Salt (the ‘shareholders’) voted overwhelmingly in favor of the special resolution approving the proposed Plan of Arrangement (the ‘arrangement“) with Triple Point Resources Ltd. (“triple point“) under the Commercial Corporations Act (British Columbia).

The special resolution regarding the agreement was approved by 99.99% of the votes cast by shareholders yesterday. In addition, the Arrangement was approved by a majority of minority shareholders voting at the meeting in accordance with the requirements of the TSX Venture Exchange.

Closing of the Arrangement is expected to occur this month and is subject to obtaining a final ruling from the British Columbia Supreme Court, expected on or about September 7, 2022, and final approval from the TSX Venture Exchange for disposal of the Company’s shares by Triple Point pursuant to the Agreement.

Approximations to the date of distribution of shares

The date of record for the distribution of 23,750,000 Triple Point shares will be awarded on or about September 21, 2022. All Atlas shareholders will qualify to receive one triple point share for approximately four Atlas shares outstanding as of the record date.

Triple Point has applied to list its shares on the Canadian Securities Exchange. The listing remains subject to compliance with the listing requirements of the CSE.

For more information on the Proposed Arrangement and related transactions, please see Management’s Information Circular dated July 14, 2022, which is available on Atlas Salt’s profile on SEDAR at www.sedar.com.

More AGM details

At the meeting, the shareholders also approved the annual affairs. All five nominees for the Board of Directors were re-elected and…