Company: JUPGF
Filing Date: 2025-12-08
Form Type: F-1/A
Source: 0001493152-25-026653
Chunk: 224

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-12-08
Form: F-1/A
Chunk 224
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 equivalent, does not, of itself, create a presumption that the person did not act in good faith
and in a manner that they reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to
any criminal action or proceeding, had reasonable cause to believe that their conduct was unlawful.

In addition, under Section 60
of the BCA and under the registrant’s Bylaws, a corporation may indemnify any person who was or is a party, or is threatened to
be made a party, to any threatened, pending, or completed action or suit by or in the right of the corporation to procure judgment in
its favor by reason of the fact that they are or were a director or officer of the corporation, or are or were serving at the request
of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise. Such indemnification
may be made against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection with the
defense or settlement of such action or suit if they acted in good faith and in a manner they reasonably believed to be in or not opposed
to the best interests of the corporation. Again, this is provided that no indemnification may be made in respect of any claim, issue
or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the court
in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of
all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses that the court shall
deem proper.

The registrant’s
Bylaws further provide that any indemnification pursuant to the foregoing (unless ordered by a court) may be made by the corporation
only as authorized in the specific case upon a determination that indemnification of the director or officer is proper in the circumstances
because they have met the applicable standard of conduct set forth above. Such determination may be made by the Board of Directors of
the corporation by a majority vote of a quorum consisting of directors who were not parties to any action, suit or proceeding referred
to in the foregoing instances, by independent legal counsel in a written opinion or by the stockholder of the corporation.

Further, and as provided
by both the registrant’s Bylaws and Section 60 of the BCA, when a director or officer of a corporation has