Global Atomic Announces Private Placement upsized to C$20 Million
NEWS RELEASE
Global Atomic Announces Private Placement upsized to C$20 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, ON, July 24, 2024: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX: GLO,
OTCQX: GLATF, FRANKFURT: G12) is pleased to announce that due to significant investor demand, the
Company has increased the maximum gross proceeds of its previously announced non-brokered
private placement (the “Offering”) from C$15,000,000 to C$20,000,000. Under the revised Offering,
the Company will sell 14,814,815 units of the Company (each, a “ Unit”) at a price of C$ 1.35 per Unit.
Red Cloud Securities Inc. is acting as a finder in connection with the Offering.
Each Unit will consist 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 for a period of 24 months
following the issue date. The Warrants shall be 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 to use the net proceeds from the Offering for the advancement of the
Company’s Dasa Project and for general working capital purposes.
The Units are being offered on a private placement basis to purchasers in all provinces of Canada
pursuant to the accredited investor and minimum investment amount exemptions under National
Instrument 45-106 — Prospectus Exemptions. The Units will also be offered to purchasers resident in
the United States on a private placement basis pursuant to an exemption from the registration
requirements of the United States Securities Act of 1933, as amended and in such other jurisdictions
outside of Canada and the United States, in each case in accordance with all applicable laws, provided
that no prospectus, registration statement or similar document is required to be filed in such
jurisdiction.
The closing of the Offering is expected to occur on or around July 31, 2024 and is subject to receipt of
all necessary regulatory approvals including the Toronto Stock Exchange (the “TSX”). Finder’s fees will
be payable in accordance with the policies of the TSX.
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.
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 co mmissioning 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. (Befesa) 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 the completion of the Offering and the
timing in respect there of, the use of proceeds of the Offering, and timely receipt of all necessary approvals, including
the approval of the Toronto Stock Exchange and Global Atomic’s development potential and timetable of its operations,
development and exploration assets. Gene rally, 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 release, 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 Global Atomic’s ability to raise additional funds on satisfactory terms to the
Company; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic
evaluation; the r ealization of mineral reserve estimates; the timing and amount of estimated future production,
development and exploration; impacts of third-parties and Government policies on the Company’s operations; cost of
future activities; capital and operating expen ditures; success of exploration activities; mining or processing issues;
currency exchange rates; government regulation of mining operations; and environmental and permitting risks those
risks described in the annual information form of Global Atomic and in its public documents filed on SEDARplus.ca 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 different 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 dif fer materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance upon forward -looking statements. Global Atomic does not
undertake to update any forward -looking statements, except in accordance with applicable 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 release.