Atlas Salt Engages Endeavour Financial for Great Atlantic Salt Project Financing

Atlas Salt Inc., based in St. John's, Newfoundland and Labrador, has appointed Endeavour Financial as its financial advisor. The collaboration aims to arrange project financing for the Great Atlantic Salt Project, targeting $350-$400 million in senior secured debt. This strategic move follows numerous achievements that have de-risked the project and positioned Atlas Salt for significant financing prospects.

In 2024, Atlas Salt achieved several key milestones, including validation of the project's low-carbon footprint and release from environmental assessments. The company also completed a mine simulation study and signed various agreements to support development, notably securing a $73 million MOU for equipment.

According to CEO Richard LaBelle, the partnership with Endeavour Financial is a crucial step in securing optimal funding solutions. George Pyper of Endeavour Financial expressed optimism about structuring financing for this "long-life, low-impact" venture.