Global Atomic Announces Closing of C$20 Million Private Placement
NEWS RELEASE
Global Atomic Announces Closing of C$20 Million Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Toronto, ON, July 31, 2024: Global Atomic Corporation (“ Global Atomic” or the “ Company”)
(TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) is pleased to announce the closing of its previously
announced non-brokered private placement (the “ Offering”) for gross proceeds of
C$20,000,000.25. The Company sold 14,814,815 units of the Company (each, a “Unit”) at a price
of C$1.35 per Unit. Red Cloud Securities Inc. (“Red Cloud”) acted as a finder in connection with
the Offering.
Each Unit consist s of one common share of the Company (each, a “ Common Share”) and one
common share purchase warrant (each whole warrant, a “ Warrant”). Each whole Warrant will
entitle the holder thereof to purchase one Common Share at a price of C$1.80 at any time on or
before July 31, 2026. The Warrants are subject to an acceleration clause whereby if (i) the 10-day
volume weighted average price of the Common Shares is above C$2.50 and, (ii) within a period
of 5 trading days following the date the Company provides a notice via widely disseminated press
release, the expiry date of the Warrants shall be accelerated to the date that is 30 days from the
date of the aforementioned press release.
The Company intends to use the net proceeds from the Offering for the advancement of the
Company’s Dasa Project and for general working capital purposes. The Offering remains subject
to the final approval of the Toronto Stock Exchange (the “TSX”).
As consideration for its services in connection with the Offering, the Company paid Red Cloud a
cash finders fee and issued warrants (the “ Finder’s Warrants”). Each Finder’s Warrant entitling
the holder thereof to purchase one Common Share at a price of C$1.35 at any time on or before
July 31, 2026. The Finder’s Warrants are subject to the same accelerated expiry clause as the
Warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About 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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The Company’s Uranium Division is currently developing the fully permitted, large, high grade
Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field
exploration. The “First Blast Ceremony” occurred on November 5, 2022, and commissioning of
the processing plant is scheduled for Q1, 2026 . Global Atomic has also identified 3 additional
uranium deposits in Niger that will be advanced with further assessment work.
Global Atomic’s Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L.
(BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye.
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. (B efesa) holds a 51% interest in and is the operator 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, Asia and the United States of America.
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; Global Atomics’ development pot ential and timetable of its operations, development and exploration
assets; Global Atomics’ ability to raise additional funds necessary; the future price of uranium; the estimation of mineral r eserves and resources; conclusions of
economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of
future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; curr ency exchange rates; government regulation
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”, “is expected”, “estimates”, variations of such words and phrases or statements that certain actions, events or results “could”, “would”, “might”, “will
be taken”, “will begin”, “will include”, “are expected”, “occur” or “be achieved”. All information contained in this news re lease, other than statements of current or
historical fact, is forward-looking information. Statements of forward -looking information are subject to known and unknown risks, uncertainties and other factors
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 at the date such statements are made. Although management of Global Atomic
has attempted to identify important factors that could cause actual results to be materially differ ent from those 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 d iffer materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forwar d-looking
statements. Global Atomic does not undertake to update any forward -looking statements, except in accordance with applica ble securities law. Readers should also
review the risks and uncertainties sections of Global Atomics’ annual and interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news rel ease.