Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 63

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 63
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%
owned by Atlas Lithium and 39.87%
owned by Marc Fogassa, our Chief Executive Officer and Chairman.

On
November 19, 2024, following satisfaction and/or waiver of the closing conditions in the Merger Agreement, including (i) approval of
the transactions contemplated under the Merger Agreement by the requisite vote of the shareholders of Jupiter Gold and Apollo,
respectively, (ii) Apollo delivering letters of transmittal to the Company completed and executed by Participating Securityholders
(as defined in the Merger Agreement) holding at least 95% of the Outstanding Apollo Securities (as defined in the Merger Agreement),
which included a waiver of their appraisal or dissenters’ rights under the Marshall Islands Business Corporations Act (the
“ BCA”), and (iii) each of the Company and Apollo having performed or complied in all material respects with all
agreements and covenants required by the Merger Agreement on or prior to the Effective Time (as defined in the Merger Agreement), the Merger was consummated and Apollo
merged with and into the Company.

In
connection with the consummation of the Merger, each share of Outstanding Apollo Securities was cancelled and converted into 6.62 shares of the Company’s common stock. In lieu of issuing fractional shares, Apollo shareholders received the
nearest whole share of the Company’s common stock, rounding up any decimal amount of shares equal to or greater than 0.5. Following the Effective Time, the holders of Outstanding Apollo Securities right before the Effective
Time, beneficially owned 59.40

Following
the Merger, the previously subsidiaries of Apollo became subsidiaries of the Company. After the merger, the Company’s subsidiaries
include the previously held MJL and the acquired through the Merger Mineração Apollo Ltda (“ MAL”), Mineração
Duas Barras (“ MDB”) and RST Recursos Minerais (“ RST”), each organized under the laws of Brazil and wholly
owned by the Company.

On
December 20, 2024, the Articles of Incorporation of the Company were amended to change the name of the Company to Atlas Critical Minerals
Corporation. This name change was carried out to reflect a broader focus of the Company following its merger with Apollo Resources Corporation.

The
Company’s mineral properties are in exploration or pre-exploration phases except for the following:

  Rio                                                                                           

  Quartzite:                                                                           

Basis
of Presentation

The
consolidated financial statements of the Company