Source: Twitter
  • Global Atomic (GLO) has announced an overnight marketed public offering for gross proceeds of C$100,000,005
  • The company will issue 28,571,430 units priced at C$3.50 per unit
  • Net proceeds will be used to fund a portion of the capital costs required to advance the company’s Dasa Project in the Republic of Niger
  • Global Atomic Corporation provides a combination of high-grade uranium mine development and zinc concentrate production
  • Global Atomic Corporation (GLO) is down 9.59 per cent on the day, trading at C$3.49 per share at 12:30 pm ET

Global Atomic (GLO) has announced an overnight marketed public offering for gross proceeds of C$100,000,005.

The company has entered into an underwriting agreement with Red Cloud Securities Inc., as lead underwriter and sole bookrunner, and Cormark Securities Inc. for the sale of 28,571,430 units priced at C$3.50 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable for one additional common share at a price of C$4.40 for a period of three years following the closing of the offering.

The company has granted the underwriters an over-allotment option that, if fully exercised, will increase the total proceeds of the offering to approximately C$115 million.

Net proceeds will be used to fund a portion of the capital costs required to advance the company’s Dasa Project in the Republic of Niger and for general working capital purposes. 

The offering is scheduled to close on or around February 14, 2023. It is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

Global Atomic Corporation provides a combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company’s Uranium Division includes four deposits. The company’s flagship project is the Dasa Project.

Global Atomic Corporation (GLO) is down 9.59 per cent on the day, trading at C$3.49 per share at 12:30 pm ET.


More From The Market Online

Steppe Gold to be Mongolia’s leading producer after Boroo acquisition

Steppe Gold Ltd. (TSX:STGO) signs a definitive share exchange agreement to acquire all issued and outstanding common shares of Boroo Gold.

Power Nickel reveals assay results from NISK Project

Power Nickel Inc. (TSXV:PNPN) reveals assay results from a new discovery zone at its NISK Project in Quebec.

Centenario to begin Phase 2 exploration at Eden Property

Centenario Gold (TSXV:CTG) reveals it is planning for the next phase of exploration at its Eden property in Mexico.
Critical Elements Lithium

Junior lithium stock unearths major discovery

Critical Elements Lithium (TSXV:CRE), a highly prospective junior lithium stock, details a major discovery on its Rose West property.