Vancouver, British Columbia – TheNewswire - March 12, 2025 – Atco Mining Inc. (the “Company” or “Atco”) (CSE: ATCM; OTC: ATMGF; Frankfurt: QP9) is pleased to announce that it has entered into a non-binding letter of intent (“LOI”), dated March 11, 2025, with Staque Computing FZ-LLC (“Staque”), an arms-length party, to acquire the super computing software platform known as “Super” (the “Staque Assets”) from Staque.

As per the LOI, it is contemplated that Atco will acquire the Staque Assets in exchange for 100,000,000 common shares of the Company (the “Consideration Shares”) and the Company will continue as a technology issuer with a focus on quantum computing (the “Transaction”).  Final terms are currently being contemplated and negotiated and will be defined a final definitive agreement.  If completed, the Transaction will constitute a “Change of Business” and a “Fundamental Change” for the Company within the meaning of the policies of the Canadian Securities Exchange.

About the Staque Assets

Staque’s quantum computing software platform, Super, combines quantum annealing, gate-based quantum computing and high-performance computing to solve science and industry’s most challenging problems. By automating complex problem-solving and dynamically orchestrating computations across classical and quantum resources, Super removes traditional computational bottlenecks and enables organizations to solve high-stakes optimization challenges with unmatched efficiency.

Super aims to revolutionize the way government agencies, fortune 500 enterprises, and research institutions process, analyze and address complex computational challenges related to their operations and R&D. The technology offers speed, scalability and security, effectively bridging the gap between traditional computing limitations and the demands of industries at the forefront of innovation.

Super’s proprietary solutions are designed to cater to organizations grappling with complex decision making across various sectors. From aerospace companies running advanced simulations to energy conglomerates analyzing intricate datasets, and life sciences institutions accelerating R&D, Super empowers these entities to push the boundaries of what's possible.

Unlike pure quantum computing providers, Super offers a hybrid approach—seamlessly integrating AI-driven optimization, high-performance classical computing (HPC), and quantum computing under a unified platform. Super autonomously analyzes, decomposes, and optimizes complex problems by intelligently leveraging natural language processing (NLP), AI-driven decision-making, and hybrid computing architectures. This ensures that each problem is solved using the most efficient computational method, balancing speed, accuracy, and feasibility across classical and quantum resources.

Transaction Conditions

Completion of the Transaction remains subject to a number of conditions, including the completion of satisfactory due diligence, the negotiation and finalization of definitive documentation, receipt of any required regulatory, shareholder and third-party consents, approval of the Canadian Securities Exchange, and the satisfaction of other customary closing conditions.

Readers are cautioned that the LOI does not bind the Company to complete the transaction and will automatically terminate on April 15, 2025 in the event a definitive agreement cannot be reached.  The Transaction cannot close until the required approvals are obtained and the foregoing conditions satisfied.  There can be no assurance that the Transaction will be completed as proposed or at all.

Update on the Atlantic Project

Atco would also like to announce that the option agreement entered into with Standard Uranium (Saskatchewan) Ltd. and Standard Uranium Ltd., dated February 16, 2024, has been terminated. In connection with the termination, Atco has surrendered any interest in the Atlantic Project.

 

About Atco Mining Inc.

Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com

 

For further information contact:

Etienne Moshevich, CEO of Atco Mining Inc.

Email: info@atcomining.com

Telephone: (604) 681-0084

www.atcomining.com

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information is often identified by terms such as “may”, “should”, “anticipate”, “would”, “will”, “estimates”, “believes”, “intends” “expects” and similar expressions which are intended to identify forward-looking information. More particularly and without limitation, this press release contains forward-looking information concerning (a) the Transaction, (b) the Consolidation (including its timing), (c) the Name Change (including its timing), (d) any resale or escrow restrictions on the Resulting Issuer Shares exchanged for the Staque Assets; (e) the expected composition of the board and management of directors of the Resulting Issuer following the Transaction, (f) the completion and timing of board, securityholder and regulatory approvals, including the application to and approval by the CSE in respect of the Transaction, (g) the ability of Atco and Staque to meet the conditions of the Transaction and the timing for completing the Transaction, (h) the timing for meeting the terms and conditions of the Definitive Agreement, (i) the preparation and delivery to securityholders of a listing statement and the timing associated with its preparation and delivery to securityholders, (j) information surrounding the business and operations related to the Staque Assets; and (k) trading in the Company’s  common shares and when such trading will resume, if at all.

The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Atco and Staque, including expectations and assumptions concerning Atco, Staque and the Staque Assets, the Consolidation, the Name Change, the Transaction, the timely receipt of all required approvals (as applicable), including the acceptance of the CSE, the satisfaction of other closing conditions in accordance with the terms of the Definitive Agreement, as well as other risks, uncertainties, and assumptions, including but not limited to assumptions regarding prevailing market conditions and general business, economic, competitive, political and social uncertainties to develop the forward-looking information in this press release. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. There can be no assurance that the Transaction will be completed in its entirety or at all. Investors are cautioned that any information released or received with respect to, among other matters disclosed in this press release, the Consolidation, the Name Change, and/or the Transaction may not be accurate or complete and should not be relied upon. Such forward-looking information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this press release is expressly qualified by this cautionary statement.

The forward-looking information contained in this press release are made as of the date of this press release, and Atco does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.