• Global Atomic announces closing of C$35.6 million private placement to advance Dasa uranium project in Niger.
• Dasa is a fully permitted, high-grade uranium deposit with robust economics and a 23-year mine life.
• Project financing options via debt or JV are well advanced, with the equity portion mostly satisfied by investments to date.
• Four uranium offtake agreements have been signed with utilities, with deliveries scheduled to begin in Q1 2026.
• Global Atomic also holds a 49% stake in the Befesa Silvermet zinc recycling plant in Türkiye, providing cash flow.

Global Atomic Corporation (TSX: GLO) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production. The company's uranium division is focused on advancing the fully permitted, large, high-grade Dasa uranium deposit in Niger.

Financing Progress

Global Atomic announced the closing of its previously announced non-brokered private placement for gross proceeds of C$35.6 million. The company sold 44,500,000 units at C$0.80 per unit, with each unit consisting of one common share and one share purchase warrant. President and CEO Stephen Roman stated:

"We remain confident that in Q1 2025 we will have positive news regarding the major component of funding for our Dasa Project in the form of either a bank financing or a joint venture agreement. In the interim, we will continue to advance the Dasa Project development and stay on schedule for yellowcake production in early 2026 while we finalize the major funding component."

The proceeds from the offering will be used to advance the Dasa Project and for general working capital purposes. Global Atomic's equity investments since 2021 have mostly satisfied the equity portion of project financing, with debt options via development banks or a potential minority JV for the processing plant well advanced.

Dasa Project Overview

The Dasa uranium deposit is a Tier-1 asset - the largest, highest grade uranium deposit discovered in Africa. The project is fully permitted, with a mining permit, export permit, and operating team in place. Mine development is well underway, with the ramp decline reaching the orebody in late 2023.

The 2024 Feasibility Study demonstrates compelling project economics:

• 23-year mine life producing 68.1 Mlb U₃O₈ at an average reserve grade of 4,113 ppm
• After-tax NPV8% of $917 million and IRR of 57% at base U₃O₈ price of $75/lb
• All-in sustaining costs (AISC) of $35.70/lb U₃O₈
• Total capital costs of $646.9 million ($308.3 million initial)

Offtake Agreements & Upcoming Milestones

Validating the Dasa Project, Global Atomic has secured four uranium offtake agreements with utilities. Yellowcake deliveries are scheduled to begin in Q1 2026.Key upcoming milestones for Global Atomic include:

• 2025: Project financing approval, plant construction, commissioning, infill drilling
• 2026: Commercial production, first yellowcake delivery, expansion studies

With the structural uranium supply deficit expected to worsen, Dasa is well-positioned as one of the few uranium projects globally in active development today.

For Investors

Global Atomic presents a unique investment opportunity - a high-grade, low-cost uranium project at an advanced stage, a cash-flowing zinc recycling operation, and an experienced management team. The company has made significant progress on Dasa project financing and has secured initial offtake agreements. Investors should watch for additional news on the financing package, construction updates, and continued project de-risking in the coming months as Global Atomic moves towards production in early 2026.