Company: JUPGF
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0001641172-25-022982
Chunk: 64

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-11
Form: DRS/A
Chunk 64
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 point five percent (1.5%) of the gross revenues from any of the mineral rights owned by, or being formally transferred to, the Company or any of its subsidiaries pursuant to the Option Agreement (the “Royalty”). The Royalty shall be subject to the terms and conditions of a royalty agreement to be mutually negotiated and entered into by and between the Company and Atlas Lithium on the date of the Company’s Option Exercise.

The Option is exercisable no earlier than the filing by the Company of a Form F-1 registration statement with the SEC, in connection with listing of the Company’s common stock on Nasdaq, and within 12 months thereafter (the “Option Term”). If the Company does not exercise the Option within the Option Term, the Option will automatically expire on the last day of the Option Term, unless the parties to this Agreement mutually agree to extend the Option Term in writing.

As consideration for granting the Option, we issued to 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). The 79,796 shares of common stock were issued to Atlas Lithium in April 2025.

The Option Exercise shall be subject to such terms and subject to such conditions to be set forth in a separate purchase agreement to be entered between the parties at the time of the Option Exercise. The foregoing summary is qualified in its entirety by reference to the Option Agreement filed as Exhibit 10.1 to this Registration Statement.

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Primary Exploration Focus

Our primary exploration focus is
on advancing our rare earths, titanium, and graphite projects to support the growing global demand for these critical minerals. Although
our primary focus is on our critical material mineral properties, we also have a quartzite
operation, which was previously our sole property generating revenues, as well as a permit to operate an iron ore mine with planned operations
commencing prior to the end of 2025. See “Business-Iron Ore-Overview” on page 91 of this prospectus, and “Business-Quartzite-Overview”
on page 97 of this prospectus.

Critical Minerals and Geopolitical Background

The U.S.
sits atop a vast and intricate supply chain, relying on scarce and strategically critical minerals for its economy and national security—yet
it controls only a fraction of global reserves.

| ● | Limited Domestic Supply: The U.S.  holds less than 2% of global reserves