Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 61

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 61
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 pay to Atlas Lithium total consideration in the amount of $8,000,000 (the “Option Consideration”). At Atlas Lithium’s discretion, the Option Consideration shall be payable in either (i) cash; (ii) shares of our common stock valued at a fixed price of $9.399 per share (reflects the Reverse Stock Split); or (iii) a combination of cash and stock (the “Option Exercise”).

Following the Option Exercise, Atlas Lithium shall be entitled to a perpetual royalty of one point five percent (1.5%) of the gross revenues from any of the mineral rights owned by, or being formally transferred to, the Company or any of its subsidiaries pursuant to the Option Agreement (the “Royalty”). The Royalty shall be subject to the terms and conditions of a royalty agreement to be mutually negotiated and entered into by and between the Company and Atlas Lithium on the date of the Company’s Option Exercise.

The Option is exercisable no earlier than the filing by the Company of a Form F-1 registration statement with the SEC, in connection with listing of the Company’s common stock on Nasdaq, and within 12 months thereafter (the “Option Term”). If the Company does not exercise the Option within the Option Term, the Option will automatically expire on the last day of the Option Term, unless the parties to this Agreement mutually agree to extend the Option Term in writing.

The Option Agreement contemplated the issuance by
the Company to Atlas Lithium of shares of our common stock representing $500,000 in value within two business days of signing the Option
Agreement (the “Effective Date”). Following the signing of the Option Agreement, the Effective Date for purposes of delivering
the share consideration for entering into the Option Agreement, was implicitly waived by the parties and postponed to fiscal year 2025.
Such understanding was subsequently reflected through the parties’ execution of a Waiver Agreement dated as of August 25, 2025
(the “Waiver Agreement”). As consideration for granting the Option, we issued Atlas Lithium 53,197 shares of our common stock, representing $500,000 divided by a value per share of $9.399 (giving effect to the Reverse Stock Split) in April 2025.

The foregoing summary is qualified in its entirety
by reference to the Option Agreement and Waiver Agreement filed as Exhibits 10.4 and 10.5, respectively, to this Registration Statement.

In the event the Option is exercised, Brazil Mineral
Resources’ acquisition