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Bullboard - Stock Discussion Forum Atlas Salt Inc V.SALT

Alternate Symbol(s):  REMRF

Atlas Salt Inc. is a Canada-based mineral exploration company. The Company is engaged in the evaluation, exploration, development and production of industrial mineral properties in Newfoundland and Labrador. The Company’s principal asset is the Great Atlantic salt deposit project (Great Atlantic Salt Project), located in the St. George Basin of western Newfoundland. Its Gypsum Project is three... see more

TSXV:SALT - Post Discussion

Atlas Salt Inc > PP question
View:
Post by Donwaan on Jan 20, 2023 11:14am

PP question

Couldn't $10 million have been borrowed for less than the $700,000 plus warrants that the PP cost?
Comment by nedstar71 on Jan 20, 2023 12:38pm
I'd say no.  They'd be paying 15% interest if they were even able to secure a loan at all.
Comment by DeputyDawg on Jan 21, 2023 5:14am
I think it's only partly about the $10m. It's the credibility that they could raise this so easily that it gives to the wider market. A show of strength. Interest for me is that they chose 2 Canadian based investors.  And yes, $700k plus warrants is a horrendous fee for  the introducers, but that's the cesspit all juniors have to operate in.