Global Atomic Announces Financing and Executive Appointment
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) announced today it has raised gross proceeds of $1,256,000 pursuant to the initial closing of a non-brokered private placement of up to $1,500,000 or 4,687,500 common shares at a price of $0.32 per common share. Final closing of the private placement is anticipated prior to January 31, 2019.
The common shares are subject to a four month hold period ending May 19, 2019. A cash finder’s fee equal to 5% of cash raised and finder’s warrants equal to 5% of common shares placed was paid pursuant to the closing for a total of $62,800 and 196,250 finders warrants. Finder’s warrants are exercisable at $0.32 for a period of eighteen (18) months from closing and subject to a four month hold period ending May 19, 2019.
The current private placement represents a follow-on to the private placement which closed in November 2018, under which the Company raised gross proceeds of $8,861,900. The private placement represents a higher price and increases gross proceeds raised to $10,117,900 to approximate the $10 million targeted under the November 2018 private placement.