Global Atomic Expands Private Placement to C$20 Million - Strong Investor Confidence in Dasa Uranium Project

• Global Atomic Corporation increases private placement from C$15M to C$20M due to high investor demand.
• Proceeds will fund advancement of the Dasa uranium project, plant commissioning for Q1 2026, and general working capital
• The private placement closing is expected byJuly 31, 2024, and is subject to regulatory approvals.
• The company combines uranium mine development with cash-flowing zinc concentrate production, offering combined near-term development potential.

Global Atomic Corporation (TSX:GLO) is a unique player in the resource sector, offering investors exposure to both the burgeoning uranium market and the established zinc industry. Headquartered in Toronto, Ontario, the company stands out for its dual focus: developing a high-grade uranium mine while simultaneously benefiting from cash flow generated by its zinc concentrate production. Global Atomic's flagship Dasa Project in Niger represents one of the most significant uranium discoveries in recent years, positioning the company at the forefront of the nuclear fuel supply chain as the world increasingly turns to nuclear power as a clean energy solution.

For investors looking at Global Atomic Corporation, the company presents a compelling opportunity to participate in the growing demand for uranium, driven by the global push for clean energy sources. The recent upsizing of its private placement from C$15 million to C$20 million underscores strong investor confidence in the company's strategic direction and the potential of its Dasa Project. As the company progresses towards uranium production, with plant commissioning scheduled for Q1 2026, Global Atomic offers a unique value proposition that combines near-term development potential with existing cash flow from its zinc operations.

Expanded Private Placement: A Vote of Confidence

In a significant development announced on July 24, 2024, Global Atomic Corporation revealed the expansion of its previously announced non-brokered private placement. The company increased the maximum gross proceeds from C$15 million to C$20 million, citing substantial investor demand as the driving force behind this decision.

Under the revised terms, Global Atomic will now offer 14,814,815 units at a price of C$1.35 per unit. Each unit consists of one common share and one common share purchase warrant. The warrant entitles the holder to purchase an additional common share at C$1.80 within 24 months of the issue date, subject to an acceleration clause if certain conditions are met.

This upsizing of the private placement sends a strong signal to the market about the level of interest and confidence in Global Atomic's business model and growth prospects. It demonstrates that institutional and accredited investors are eager to gain exposure to the company's portfolio, particularly its advanced-stage Dasa uranium project in Niger.

Dasa Project: A Game-Changer in the Uranium Sector

The primary focus of the funds raised through this private placement is the advancement of the Dasa Project, Global Atomic's crown jewel. Located in the Republic of Niger, Dasa is poised to become one of the most significant new uranium mines globally, with the potential to transform Global Atomic into a major player in the uranium market.

Key highlights of the Dasa Project

• High-grade deposits: The Dasa deposit, discovered in 2010 by Global Atomic's own geologists, boasts high-grade uranium resources, making it an attractive and potentially low-cost operation.
• Fully permitted: The project has already secured necessary permits, reducing regulatory risks and potentially accelerating the path to production.
• Advanced development stage: With the "First Blast Ceremony" having taken place on November 5, 2022, the project is progressing rapidly towards production.
• Near-term production potential: The company has scheduled the commissioning of the processing plant for Q1 2026, indicating a clear timeline for investors.
• Additional exploration upside: Global Atomic has identified three additional uranium deposits in Niger, suggesting potential for future expansion and extended mine life.

The infusion of capital from this enlarged private placement will play a crucial role in maintaining the development momentum at Dasa. It will enable Global Atomic to continue with construction activities, equipment procurement, and other critical path items necessary to meet its ambitious production timeline.

Zinc Operations: A Steady Cash Flow Generator

While much of the focus is on the Dasa uranium project, investors should not overlook Global Atomic's established zinc business. The company holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant in Iskenderun, Türkiye.

This operation recovers zinc from Electric Arc Furnace Dust (EAFD) to produce high-grade zinc oxide concentrate, which is then sold to zinc smelters worldwide. The steady cash flow from this business provides Global Atomic with a unique advantage among junior mining companies – the ability to partially self-fund its development activities and reduce reliance on dilutive financing.

The joint venture partner, Befesa Zinc S.A.U., holds the remaining 51% interest and operates the BST Joint Venture. Befesa's market leadership in EAFD recycling, with approximately 50% of the European EAFD market, adds credibility and operational expertise to this aspect of Global Atomic's business.

Market Dynamics: The Growing Case for Uranium

Global Atomic's strategic focus on uranium comes at a time when the nuclear energy sector is experiencing a renaissance. Several factors are contributing to the increasing attractiveness of uranium as an investment:

• Clean energy transition: As countries worldwide strive to reduce carbon emissions, nuclear power is gaining recognition as a reliable, low-carbon baseload energy source.
• Energy security concerns: Recent geopolitical events have highlighted the importance of energy independence, leading many nations to reconsider nuclear power as a domestic energy solution.
• Technological advancements: The development of smaller, safer reactor designs is opening up new possibilities for nuclear energy deployment.
• Supply-demand imbalance: Years of underinvestment in uranium mining have led to a tightening supply, just as demand is expected to increase.
• Government support: Several countries, including the United States, China, and France, have announced plans to expand their nuclear power capacities.

These market dynamics create a favorable environment for uranium producers, particularly those with advanced-stage projects like Global Atomic's Dasa deposit.

Financial Implications of the Expanded Offering

The increase in the private placement from C$15 million to C$20 million provides Global Atomic with a stronger financial position to execute its development plans. Here's how this expanded offering impacts the company's financial outlook:

• Enhanced liquidity: The additional C$5 million bolsters the company's cash reserves, providing greater flexibility in managing development timelines and potential cost overruns.
• Reduced financing risk: With more capital secured upfront, Global Atomic decreases the likelihood of needing to return to the market for additional funds in the near term, potentially under less favorable conditions.
• Accelerated development: The extra capital could allow the company to fast-track certain aspects of the Dasa project, potentially bringing forward the production timeline.
• Working capital buffer: A portion of the proceeds is earmarked for general working capital, providing a cushion for ongoing operations and unforeseen expenses.
• Potential for expanded programs: With additional funds, Global Atomic may have the opportunity to expand its exploration activities on its other uranium prospects in Niger.

Investor Considerations

For investors considering Global Atomic Corporation, several key points merit attention:

• Dual revenue streams: The combination of a developing uranium project and an operational zinc recycling business provides diversification and potential for near-term cash flow.
• Advanced-stage asset: The Dasa project is well-advanced, with a clear path to production, reducing some of the risks typically associated with junior mining companies.
• Strong market fundamentals: The uranium market is showing signs of a sustained upturn, potentially leading to higher uranium prices as Global Atomic nears production.
• Experienced management: The company's success in discovering and advancing the Dasa deposit, as well as managing the zinc joint venture, demonstrates management's capabilities.
• Geopolitical considerations: While Niger offers a supportive mining jurisdiction, investors should be aware of the broader geopolitical landscape in the region.
• Execution risk: As with any mining development project, there are risks associated with construction timelines, budget adherence, and operational ramp-up.
• Potential for further discoveries: The company's additional uranium prospects in Niger offer upside potential beyond the Dasa project.

Conclusion: A Compelling Opportunity in the Nuclear Fuel Cycle

Global Atomic Corporation stands at an exciting juncture in its corporate journey. The expansion of its private placement to C$20 million not only provides the necessary capital to advance the Dasa project but also signals strong market confidence in the company's strategy and potential.

For investors seeking exposure to the uranium sector, Global Atomic offers a compelling package: a near-term production asset in Dasa, exploration upside with additional uranium prospects, and the stability of cash flow from its zinc recycling operations. The company's progress comes at a time when the fundamentals of the uranium market are strengthening, driven by the global push for clean energy and the renaissance of nuclear power.

However, as with any mining investment, risks remain. The successful execution of the Dasa project, navigating the geopolitical landscape in Niger, and the volatility inherent in commodity markets are all factors that investors should carefully consider.

Ultimately, Global Atomic Corporation represents an opportunity to invest in a company positioned at the intersection of two critical trends: the transition to clean energy and the recycling of valuable materials. As the company progresses towards uranium production and continues to benefit from its zinc operations, it has the potential to deliver significant value to shareholders who are willing to participate in the dynamic and essential sector of nuclear fuel production.