Global Atomic Raises C$24.84M to Advance Dasa Uranium Project and Support Working Capital

• Raised C$24.84 million via non-brokered private placement at C$0.80 per unit
• Each unit includes a share and a warrant exercisable at C$1.00 until June 2028
  
• Proceeds to fund the Dasa uranium project in Niger and support working capital
  
• Finder’s fees: C$1.18 million in cash and 1.53 million non-transferable warrants
  
• Final TSX approval pending, with securities issued under Canadian and international exemptions

Global Atomic Corporation (TSX: GLO; OTCQX: GLATF; Frankfurt: G12) has completed a non-brokered private placement, raising approximately C$24.84 million. Proceeds are expected to support the continued development of the company’s flagship Dasa uranium project in Niger, as well as general working capital needs.

The financing involved the issuance of 31,048,950 units at C$0.80 per unit. Each unit consists of one common share and one warrant, exercisable at C$1.00 until June 2028. Units were issued under Canadian and international exemptions, with securities freely tradeable under applicable regulations. Red Cloud Securities and Canaccord Genuity acted as finders, receiving C$1.18 million in cash and 1.53 million non-transferable warrants.

Investor Perspective: Capital Strategy & Milestones Ahead

This raise appears consistent with Global Atomic’s broader capital strategy, which has focused on project advancement through equity placements while limiting reliance on debt. Management previously emphasized this approach at its 2025 Annual General Meeting.

The Dasa Project, discovered in 2010, is considered one of the higher-grade undeveloped uranium assets globally. It is fully permitted, with construction underway and commissioning targeted for the second half of 2026, pending ongoing progress. The project may benefit from expected tightening in global uranium supply. The company has also outlined additional exploration targets in Niger that could offer long-term optionality.

Alongside its uranium portfolio, Global Atomic maintains a 49% interest in a zinc recycling joint venture in Türkiye with Befesa Zinc. The facility processes electric arc furnace dust into zinc concentrate and continues to generate operating income, providing financial diversification.

While the issuance introduces some equity dilution, the warrant structure with a C$1.00 strike price could contribute to future capital inflows at a premium to the current issue price. The finder’s warrants are non-transferable, limiting secondary market impact. Overall, the terms reflect a cautious approach to capital formation.

Upcoming milestones investors may watch include:

• Final TSX approval of the offering
  
• Construction and procurement updates at Dasa
  
• Potential offtake agreements or project-level financing
  
• Performance of the zinc joint venture

If execution continues as expected, Global Atomic could be positioned as a near-term uranium producer with the benefit of diversified cash flow. For investors, this raise may signal confidence in the company’s ability to progress toward that goal while maintaining a balanced financial strategy.