Company: JUPGF
Filing Date: 2025-05-02
Form Type: DRS
Source: 0001641172-25-008279
Chunk: 57

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-05-02
Form: DRS
Chunk 57
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 important applications. Rare earth elements are crucial for permanent magnets used in electric motors and wind turbines, and for semiconductor and defense applications. Graphite is a key component in lithium-ion batteries, while titanium has applications in aerospace and medical technologies. Copper and nickel are essential for electric vehicle batteries and renewable energy infrastructure.

Our exploration activities to date have included geological mapping, geochemical sampling, geophysical surveys, and limited exploratory drilling to identify potential mineralized zones within a few of our mineral rights. As we advance our understanding of these critical mineral properties, we may conduct extensive exploratory programs including drilling campaigns to identify and quantify mineral resources. Our exploration programs follow the accepted guidelines under Regulation S-K 1300.

We aim to create value through continued exploration, resource delineation, and potential development of these assets over time. By maintaining a diverse portfolio of critical minerals projects, our objective is to seek to position us as a significant player in the global critical minerals supply chain.

Atlas Lithium Option Agreement

On December 19, 2024, we entered into an option agreement (the “Option Agreement”) with Atlas Lithium. Pursuant to the Option Agreement, Atlas Lithium granted us the exclusive right and option (the “Option”) to purchase from Atlas Lithium 100% of the equity interest in Brazil Mineral Resources Corporation, a Republic of the Marshall Islands corporation and a wholly-owned subsidiary of Atlas Lithium (“Brazil Mineral Resources”) (the “Equity Sale”). Brazil Mineral Resources’ primary assets consist of 60 mineral rights for copper, gold, graphite, nickel, rare earths, and titanium, all in Brazil.

During the Option Term (as defined below), we may deliver to Atlas Lithium (i) a written notice (a “Preliminary Option Notice”) indicating that we propose to exercise the Option and (ii) a proposed form of Purchase Agreement (the “Initial Draft Agreement”). The parties thereto shall thereafter use their best efforts for the thirty-business day period following the date of Atlas Lithium’s receipt of the Initial Draft Agreement to finalize and execute a definitive purchase agreement and consummate the Equity Sale. In connection with the Option Exercise (as defined below), we shall pay to Atlas Lithium total consideration in the amount of US$8.0 million (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 $0.6266 per share; or (iii) a