Global Atomic Announces Accelerated Expiry of Common Share Purchase Warrants
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced the acceleration of the expiry date of common share purchase warrants (“warrants”) issued pursuant to the Company’s Unit private placement of May 2020.
Units consisted of one common share and one-half common share purchase warrant exercisable at C$0.85 for a period of two years from closing, Finder’s warrants issued pursuant to closing are exercisable at C$0.67 for a period of two years from closing.
All warrants are 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 and the Company issues a news release announcing the acceleration of term. The closing price of Global Atomic Common Shares has been at or above $1.10 for the twenty (20) consecutive trading days during the period December 22, 2020 – January 21, 2021. A total of 2,005,834 Investor warrants and 141,300 Finder’s warrants remain outstanding and will generate $1.8 million on exercise and expire February 22, 2021.