Company: JUPGF
Filing Date: 2025-10-08
Form Type: F-1/A
Source: 0001493152-25-017439
Chunk: 60

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-10-08
Form: F-1/A
Chunk 60
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 We issued Atlas Lithium 159,592 shares of our common stock, representing $500,000 divided by a value per share of $3.133 (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 to from Jupiter Gold Corporation 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. On January 27, 2025, in connection with such an amendment, the Company filed a Certificate of Correction to correct the omission of a reference to the Company’s original Articles of Incorporation, dated July 27, 2016, in Section 2 of the Articles of Amendment.

We have no debt, except for operational payables. We have been primarily funded to date by sales of our common stock. We are prohibited from issuing variable-rate convertible debt by our Bylaws.

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Business Overview

We are a mineral exploration company focused on critical minerals projects and properties in Brazil. Our portfolio includes principally mineral properties for rare earths, graphite, titanium, copper, and nickel, all of which are commonly considered to be “critical minerals”. Certain of our mineral rights for copper and rare earths may also contain uranium, which is also a “critical mineral”. Although our primary focus is on our critical mineral properties, we also have a quartzite operation, which is our sole property currently generating revenues