Global Atomic Closes C$3.3M Financing
GLOBAL ATOMIC CLOSES C$3.3M FINANCING
Toronto, ON, May 15, 2020: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX:
GLATF, FRANKFURT: G12) announced today it has raised gross proceeds of C$3,323,000 pursuant to the closing of
a non-brokered private placement of 5,538,335 Units at a price of C$0.60. Units consist of one common share and
one-half common share purchase warrant exercisable at C$0.85 for a period of two years from closing, subject to
accelerated expiry should Global Atomic Corporation common shares close at or above C$1.10 on the Toronto
Stock Exchange for twenty (20) consecutive trading days.
A cash finder’s fee equal to 5% of cash raised and finder’s warrants equal to 5% of comm on shares placed was
paid pursuant to the closing of certain orders for a total of $114,400 and 149,000 finders warrants. Finder’s
warrants are exercisable at C$0.67 for a period of two years from closing subject to accelerated expiry as above.
All securities issued pursuant to the private placement are subject to a four month hold period ending September
16, 2020.
Red Cloud Securities Inc. and Arlington Group Asset Management Ltd. acted as finders in the private placement.
Proceeds from the sale of the Units will be used to fund technical work in support of mine permits and feasibility
work for the Issuer’s Dasa Property in Niger, West Africa and working capital.
Stephen G. Roman, President & CEO stated, “Due to COVID-19 and uncertain markets, we felt it prudent to bolster
our working capital in order to complete the necessary technical work required for our Dasa Mining Permit
Application. We expect business to return to normal operations in due course and are fortunate to have a very
supportive shareholder base and management team who have all participated in this financing.”
Certain insiders of the Company subscribed for Units pursuant to the Offering. Any issuance of Units to an insider
will be considered to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 (“MI
61-101”). The related party transaction is exempt from the formal valuation and minority shareholder approval
requirements of MI 61 -101 as neither the fair market value of securities being issued t o insiders nor the
consideration being paid by insiders exceeds 25% of the Company's market capitalization.
About Global Atomic
Global Atomic Corporation is a TSX listed company with a unique combination of high grade uranium development
and cash flowing zinc concentrate production.
The Company’s Uranium Business includes six exploration permits in the Republic of Niger covering an area of
approximately 750 km 2. Uranium mineralization has been identified on each of the permits , with the most
significant discovery being the Dasa Deposit situated on the Adrar Emoles 3 concession, discovered in 2010 by
Global Atomic geologists through grassroots field exploration. GA Mining Permit for the Dasa Deposit will be
applied for in H2 2020.
Global Atomic’s EAFD Business holds a 49% interest in Befesa Silvermet Turkey, S.L. (“BST”) joint venture, which
operates a processing facility, located in Iskenderun, Turkey, that converts Electric Arc Furnace Dust (“EAFD”) into
a high -grade zinc oxide concentrate for sale to zinc smelters around the world. The Company’s joint venture
partner, Befesa Zinc S.A.U., a wholly-owned subsidiary of Befesa, S.A. (“Befesa”) listed on the Frankfurt Exchange
under ‘BFSA’), holds a 51% i nterest in and is the operator of the BST joint venture. Befesa is a market leader in
EAFD recycling, capturing approximately 50% of the European EAFD market, with facilities located throughout
Europe and Asia.
PRESS RELEASE
Key contacts:
Stephen G. Roman Merlin Marr-Johnson
Chairman, President & CEO Executive Vice President
Tel: (416) 368-3949 Tel: +44 (0)7803 712 280
Email: [email protected] 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 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 estimates; 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 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", “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 factors that may cause the actual results, level of activ ity, 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 statements. Accordingly, readers should not
place undue reliance on forward- looking statements. Global 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.