Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 58

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 58
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a, Mineração Apollo Ltda, Mineração Duas Barras Ltda, and RST Recursos Minerais Ltda. Please refer to Note 2 of our audited consolidated financial statements for the accounting impacts arising from the Merger.

On December 19, 2024, the Company entered into the Option Agreement with Atlas Lithium Corporation (“Atlas Lithium”)), pursuant to which the Company acquired an option to acquire 100% of the equity interests of Brazil Minerals Resources Corporation (“BMR”), a wholly-owned subsidiary of Atlas Lithium (the “Option”). As consideration for granting the Option, 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”). 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 Option is exercisable no earlier than the filing by the Company of a Form F-1 registration statement with the SEC and within 12 months thereafter. If the Option is exercised, the Company and Atlas Lithium shall enter into a definitive purchase agreement for the purchase of BMR pursuant to which the Company shall pay to Atlas Lithium total consideration of $8,000,000, which at the discretion of Atlas Lithium shall be in the form of cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock. In the event that the Option is exercised, Atlas Lithium shall additionally be entitled to a perpetual royalty of one point five percent (1.5%) of the revenues resulting from the mineral rights owned by BMR as of the date of the Option Agreement.

In the event the Option is exercised, the acquisition
of BMR will be considered and accounted for as a transaction between entities under common control.

On December 20, 2024, the Articles of Incorporation of the Company, a Republic of the Marshall Islands corporation were amended to change the name of the Company