“Bought Deal” private placement, including full exercise of the over-a llotment option, for gross proceeds of C

NEWS RELEASE

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lobal Atomic Announces Closing of C$12.5 Million “Bought Deal” Private Placement

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OT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES

Toronto, ON, March 16, 2021: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:GLO)

(FRANKFURT: G12) (OTCQX: GLATF) is pleased to announce that it has closed its previously announced

“Bought Deal” private placement, including full exercise of the over-a llotment option, for gross proceeds of C

$12,500,000 (the “Offering”). Under the Offering, the Company sold 6,250,000 units of the Company (the

“Units”) at a price of C$2.00 per Unit (the “Offering Price”). The Units were sold through a syndicate of

underwriters led by Red C loud Securities Inc. and included Cormark Securities Inc. (the “Underwriters”).

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ach Unit is comprised of one common share in the capital of the Company (each a “ Common Share”) and one

half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable

into one Common Share at a price of C$ 3.00 at any time on or before the date which is 18 months after the

closing date of the Offering.

Th

e Company intends to use the net proceeds raised from the Offering for the advancement of the Company’s

Dasa uranium project in the Republic of Niger (the “Dasa Project”) and for general working capital and corporate

purposes. The securities issued by the Company under the Offering are subject to a hold period of four months

and one day following the closing date of the Offering.

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n connection with the Offering, the Underwriters received a cash commission equal to 6.0% of the gross

proceeds of the Offering and broker warrants (the “Broker Warrants”) equal to 6 .0% of the aggregate number

of Units sold under the Offering. Each Broker Warrant is exercisable to acquire one Common Share at the

Offering Price until September 16, 2022. All securities issued under the Offering are subject to a statutory hold

period under Canadian securities legislation expiring on July 17, 2021.

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his news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in

the United States. The securities have not been and will not be registered under the United States Securities Act

of 1933, as amended (the “ U.S. Securities Act ”), or any state securities laws and may not be offered or sold

within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the

U.S. Securities Act) unless registered under the U.S. Securities Act and appl icable state securities laws or an

exemption from such registration is available.

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bout Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique

combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

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he Company ’s Uranium Division includes four deposits with the flagship project being the large, high- grade

Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the

issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the

Dasa Project is fully permitted and final design in support of the Company’s Feasibility Study is on-going.

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bal Atomics ’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ( “BST”) Joint

Venture, which operates a new, state of the art zinc production plant, located in Iskenderun, Turkey. The plant

recovers zinc from Electric Arc Furnace Dust ( “EAFD”) to produce a high -grade zinc oxide concentrate which is

sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”) listed

on the Frankfurt exchange under ‘BFSA’, holds a 51% interest in and is the operato r of the BST Joint Venture.

Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities

located throughout Europe and Asia.

Key contacts:

Stephen G. Roman

Chairman, President and CEO

Tel: +1 (416) 368-3949

Email: [email protected]

Bob Tait

VP Investor Relations

Tel: +1 (416) 558-3858

Email: [email protected]

The information in this release may contain forward- looking information under applicable securities laws. Forward-looking information includes, but is not

limited to, statements with respect to completion of any financings; the use of proceeds from the Offering; Global Atomic’s development potential and

timetable of its operating, development and exploration assets; Global Atomic’s ability to raise additional funds necessary; the future price of uranium; the

estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimate s; the timing and

amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration

activities; mining or processing issues; currency exchange rates; government regula tion of mining operations; and environmental and permitting risks.

Generally, forward-looking statements can be identified by the use of forward- looking terminology such as “plans ”, “targets”, “expects” or “does not

expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such

words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All

information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward- looking

statements are subject to known and unknown risks, uncertainties and other factor s that may cause the actual results, level of activity, performance or

achievements of Global Atomic to be materially different from those expressed or implied by such forward- looking statements, including but not limited to

those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of

Global Atomic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking

statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements

will prove to be accurate, as actual results and future events could differ materially from those anticipated in such stateme nts. Accordingly, readers should

not place undue reliance on forward- looking statements. Gl obal Atomic does not undertake to update any forward- looking statements, except in

accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Global Atomic’s annual and interim MD&As.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts

responsibility for the adequacy or accuracy of this release.