Global Atomic (TSX: GLO) is again returning to the markets to raise funds, after having secured $40.3 million in funding just in October.
The latest funding round will see the company raise $30.0 million in gross proceeds at $0.80 per unit. Each unit contains one common share and one common share purchase warrant. Warrants are valid for a period of 36 months from the date of issuance and contain an exercise price of $1.00 per share.
A total of 37.5 million units are to be sold under the financing, of which 12.5 million units will be subject to a listed issuer financing exemption, making them immediately freely tradeable.
The pricing of the financing represents a 33% haircut to the $1.20 per share price paid by investors in October.
“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. We are pleased to have a new, significant US – based institutional investor whose investment is the lead order in the private placement and have extended these favourable terms to all our shareholders both institutional and retail,” commented Stephen Roman, CEO of Global Atomic.
Details on the institutional investor, and how many shares they will be acquiring, were not provided.
Proceeds from the financing are to be used for the advancement of the Dasa Project, as well as for general working capital purposes.
Global Atomic last traded at $0.94 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
