Global Atomic Closes C$3.3M Financing
Toronto, ON: 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 common 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.