ST. JOHN’S, Newfoundland and Labrador, June 28, 2023 (GLOBE NEWSWIRE) -- Atlas Salt (the “Company” or “Atlas” - TSXV: SALT; OTCQB: REMRF; FSE: 9D00), has been requested by the OTC Markets Group Inc. to comment on promotional activity concerning its common stock traded on the OTCQB market.
On June 26, 2023, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, including the distribution of promotional email materials (materials) published by Gold Standard Media (“Gold Standard”) and its affiliates including Future Money Trends LLC, Wealth Research Group LLC, Portfolio Wealth Global LLC from June 24 - June 26, 2023, discussing the Company and its salt project activities. The Company had the opportunity to review and comment on the copy material which formed the e-mail material published by Gold Standard prior to publication.
Gold Standard is a third party marketing and advertising firm retained by the Company to provide content distribution, advertising and marketing services. The Company provided Gold Standard with publicly available source information for the materials and the Company had final review and approval over the content disseminated by Gold Standard and its affiliates. The Company does not believe the statements contained in the e-mails are false or misleading. The retaining of Gold Standard and the terms of the engagement including financial compensation were disclosed in a news release on June 23, 2023. Additionally, the engagement was disclosed and approved by the TSX Venture Exchange on June 23, 2023 as per exchange rules.
Gold Standard represented to the Company that it does not own any securities directly or indirectly in the Company. The Company has no opinion as to whether or not and/or the extent to which the promotional activity affected trading activity because of the many factors that affect trading activity generally, which may include promotional activities as well as the volatile nature of the industry in which the Company is involved and the prior issuance of public news releases including a corporate update news release on June 26, 2023.
Over the preceding 12 months, in addition to the above disclosed engagements with Gold Standard and its affiliates, the Company has worked with third party contractual service providers Marketsmart Communications, Business Financial Network, Junior Gold Report, Sagacity Capital Media, Digitonic Ltd. to provide advertising and marketing services to the Company.
In the past 90 days, Patrick Laracy CEO and Director exercised stock options and sold shares. John Anderson, Director, exercised warrants. Carson Noel, Director, exercised stock options. After an inquiry by management, none of the other Company’s executive officers, directors, or, to the knowledge of the Company, controlling shareholders and third party service providers sold or purchased shares of the Company within the past 90 days except Sagacity Capital Media and Junior Gold Report purchased shares and Marketsmart Communications sold shares of the Company.
The Company has not issued shares or convertible instruments allowing conversion to shares at prices constituting a discount to the current market rate at the time of the issuance.
For more complete and specific information regarding the Company, its activities, the risks associated with these activities, and a summary of issuance of shares or convertible securities, readers should consult the Company's public filings on SEDAR and its website.
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 market. The project features a large homogeneous high-grade resource located immediately next to a deep-water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues development of the Fischell’s Brook Salt Dome approximately 15 kilometers south of Great Atlantic in the heart of an emerging Clean Energy Hub.
We seek Safe Harbor.
For information, please contact:
Patrick J. Laracy, CEO
(709) 754-3186
info@atlassalt.com
MarketSmart Communications Inc.
Adrian Sydenham
Toll-free: 1-877-261-4466
Email: info@marketsmart.com
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: completion, delivery and timing of the referenced assessments and analysis. 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 the referenced assessments and analysis. 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.
