Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 56

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 56
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 is only a summary of the Amended and Restated Articles of Incorporation and is qualified in its entirety by reference to the full Amended and Restated Articles of Incorporation, which are filed as Exhibit 1.1 hereto and incorporated by reference.

After the Merger, the Company’s wholly owned subsidiaries now include Mineração Jupiter Ltda, 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 79,796 shares of our common stock, representing $500,000 divided by a value per share of $6.266 (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