Bedford, Nova Scotia – (Newsfile Corp. – April 9, 2021) – Atlantic Industrial Minerals Incorporation (TSXV: ANL.H) (the “Society“) is pleased to announce that, following its press release dated February 19, 2021, it has settled a total of $ 81,057.90 of debts owed to certain arm’s length creditors by issuing a total of 1,621,158 ordinary shares (“Ordinary actions“) of the Company at a deemed price of $ 0.05 per Common Share (the”Debt settlementDebt settlement remains subject to receipt of all necessary corporate and regulatory approvals, including NEX approval.

All common shares issued in connection with the debt settlement are subject to a legal hold period of four months plus one day from the date of issue in accordance with applicable securities legislation.

The settlement of an aggregate debt of $ 410,000 owed to certain non-arm’s length creditors through the issuance of a total of 1,640,000 common shares of the Company (the “Non-arm’s length debt settlement“) is subject to NEX approval and disinterested shareholder approval, which the Company will seek at the extraordinary meeting of shareholders of the Company to be held on June 4, 2021. Common shares issued in accordance with The By-Laws of the term of the debt will be issued after the completion of the proposed name change and the consolidation of the issued and outstanding ordinary shares of the Company on the basis of one (1) post-consolidation ordinary share for five (5) shares ordinary pre-consolidation at a deemed price of $ 0.25.

For more information please contact:

J. Francois Lalonde
Chief Executive Officer
Phone. : (905) 832-5555
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking information which does not consist of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “plan”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “” may “or” will “occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results and opportunities to differ materially. those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, changes in the state of the stock and bond markets, fluctuations in commodity prices, delays in obtaining required regulatory or government approvals, and include those risks set out in the MD&A of the Company as filed under the Company profile at the address www.sedar.com. The forward-looking information contained in this press release is based on the opinions and assumptions of management believed to be reasonable as of the date hereof, including the fact that all necessary government and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this press release are reasonable, such information should not be relied on unduly. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than that required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80027