Global Atomic Announces Closing of C$12.5 Million “Bought Deal” Private Placement
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Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:GLO, FRANKFURT: G12, OTCQX: GLATF) is pleased to announce that it has closed its previously announced “Bought Deal” private placement, including full exercise of the over-allotment option, for gross proceeds of C$12,500,000 (the “Offering”). Under the Offering, the Company sold 6,250,000 units of the Company (the “Units”) at a price of C$2.00 per Unit (the “Offering Price”). The Units were sold through a syndicate of underwriters led by Red Cloud Securities Inc. and included Cormark Securities Inc. (the “Underwriters”).
Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one Common Share at a price of C$3.00 at any time on or before the date which is 18 months after the closing date of the Offering.
The Company intends to use the net proceeds raised from the Offering for the advancement of the Company’s Dasa uranium project in the Republic of Niger (the “Dasa Project”) and for general working capital and corporate purposes. The securities issued by the Company under the Offering are subject to a hold period of four months and one day following the closing date of the Offering.