Global Atomic Announces Proposed Public Offering of Units
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NEWS RELEASE
Global Atomic Announces Proposed Public Offering of Units
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Toronto, ON, January 24, 2023: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:
GLO, FRANKFURT: G12) today announced that it has filed a preliminary short form prospectus with the
securities commissions in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and
Ontario, in connection with a n overnight marketed public offering (the “Offering”) of units of the
Company (the “Units”) . The Offering is expected to be completed pursuant to an underwriting
agreement to be entered into between the Company and Red Cloud Securities Inc., as lead underwriter
and sole bookrunner on behalf of a syndicate of underwriters (the “Underwriters”).
Each Unit will consist of one common share of the Company (each, a "Common Share") and one half
of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be
exercisable to acquire one Common Share. Final pricing of the Units, the exercise price and term of the
Warrants and the determination of the number of Units to be sold and gross proceeds of the Offering
will be determined in the context of the market.
The Company intends to grant the Underwriters an option, exercisable in whole or in part, at the sole
discretion of the Underwriters, at any time for a period of 30 days from and including the closing of the
Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering,
on the same terms and condit ions of the Offering to cover over -allotments, if any, and for market
stabilization purposes (the “Over-Allotment Option”).
The Company intends to use the net proceeds raised from the Offering to partially fund the
development of the Company’s Dasa Project in the Republic of Niger in order to advance exploration
and development of the Dasa Project and for general working capital purposes. Please refer to the
Company’s press release dated January 9, 2023 that outlines its plans for the Dasa Project in 2023.
The Offering is scheduled to close on or around February 14, 2023, or such other date as the Company
and the Underwriters may agree. Closing of the Offering is subject to customary closing conditions,
including, but not limited to, the execution of an underwriting agreement and the receipt of all
necessary regulatory approvals, including the approval of the securities regulatory authorities and the
Toronto Stock Exchange. The preliminary short form prospectus is a vailable on SEDAR at
www.sedar.com.
This press 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
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may not be offered or sold to or for the account or benefit of persons in the “United States” or “U.S.
persons” (as such terms are defined in Regulation S under the U.S. Securities Act) 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 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 Proj ect is fully permitted for commercial production. The Phase 1
Feasibility Study for Dasa was filed in December 2021 and estimates yellowcake delivery to utilities to
commence in 2025. Mine excavation began in Q1 2022.
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 production plant, located in Iskenderun, Turkey. The plant
recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a hi gh-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 thereof, the use of
proceeds of the Offering, the entering of an underwriting agreement 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. 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 action s, 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 rel ease, 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
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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 resou rces; the completion and timing of an updated mineral resource estimate; conclusions of
economic evaluation; the realization 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 expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government r egulation
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 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 different from
those forward-looking statements, there may be other factors that cause resu lts 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 statements. Accordingly, readers shoul d 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.