Company: JUPGF
Filing Date: 2025-12-08
Form Type: F-1/A
Source: 0001493152-25-026653
Chunk: 67

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-12-08
Form: F-1/A
Chunk 67
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 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”). As consideration for granting the Option, we issued Atlas Lithium 66,497 shares of our common stock, representing $500,000 divided by a value per share of $7.519 (giving effect to the Reverse Stock Split) in April 2025.

The foregoing summary is qualified in its entirety
by reference to the Option Agreement and Waiver Agreement filed as Exhibits 10.4 and 10.5, respectively, to this Registration Statement.

In the event the Option is exercised, Brazil Mineral
Resources’ acquisition will be considered and accounted for as a transaction between entities under common control.

| 40 |

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 for rare earth elements, graphite, cobalt, and nickel.                                          |
| ● | Economic Impact of Supply Disruptions:  Rare earths drive $298 billion in economic                                                    
 activity, supporting 535,000 U.S. jobs and $33.3 billion in payroll. They also warn that disruptions could severely impact industries 
 and quality of life.                                                                                                                  |