Global Atomic Announces C$50 Million Public Offering of Units
TORONTO, ON / ACCESS Newswire / September 23, 2026 / Global Atomic Corporation ("Global Atomic" or the "Company") (TSX:GLO)(OTCQX:GLATF)(FRANKFURT:G12) today announces the size and pricing of its previously announced overnight marketed public offering (the "Offering"). The Company has entered into an underwriting agreement with Red Cloud Securities Inc. ("Red Cloud"), as sole underwriter and bookrunner, for the sale of 100,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit for aggregate gross proceeds of C$50,000,000.
Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable to acquire one common share of the Company (each, a "Warrant Share") at a price of C$0.70 per Warrant Share at any time for a period of 36 months after the Closing Date (as defined herein).
The Company has granted Red Cloud an option (the "Over-Allotment Option"), exercisable in whole or in part, at the sole discretion of Red Cloud, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option may be exercised by Red Cloud to acquire Units, Unit Shares and/or Warrants, or any combination thereof.
The Company intends to use the net proceeds raised from the Offering for the advancement of the Dasa Project and for general working capital purposes.
Stephen G. Roman, President and CEO of Global Atomic, commented, "This public offering is an initial step to satisfy the Company's remaining contribution to fund the Dasa Project. The proceeds from this offering will give the Company time to assess how best to fund the remaining gap prior to drawing down on the DFC's US$414 million contribution. The DFC Board's approval has opened more financing options, some of which don't require us to issue shares."
In connection with the Offering, the Company intends to file a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated March 31, 2026 (the "Shelf Prospectus"), with the securities regulatory authorities in each of the provinces and territories of Canada, except Quebec. The Units may also be sold in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and in such other jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.
Copies of the applicable offering documents, when available, can be obtained free of charge under the Company's profile on SEDAR+ at www.sedarplus.ca. Delivery of the Shelf Prospectus and the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the "access equals delivery" provisions of applicable Canadian securities legislation.
The Shelf Prospectus and the Prospectus Supplement will contain important detailed information about the Company and the Offering. Prospective investors should read the Prospectus Supplement and accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR+ at www.sedarplus.ca before making an investment decision.
The Offering is expected to close on or about October 1, 2026 (the "Closing Date"), or on such date as agreed upon between the Company and Red Cloud. The closing of the Offering is subject to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange (the "TSX").
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Access to the Prospectus Supplement, the Shelf Prospectus and any amendments to such document will be provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment thereto. The Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at www.sedarplus.ca. Alternatively, an electronic or paper copy of the Shelf Prospectus, Prospectus Supplement, and any amendment to such document may be obtained without charge, from Red Cloud by email at ecm@redcloudsecurities.com or by providing the contact with an email address or address, as applicable.
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) 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 developing the fully permitted, large, high-grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The Deposit is in the uranium-rich Tim Mersoï Basin in the Agadez Region of the Republic of Niger. The Dasa Project is operated by SOMIDA, a Niger-based company which is owned 80% by Global Atomic and 20% by the Niger Government. Permitted in 2020 and actively mined since 2022, the Dasa Project is the world's most advanced greenfield uranium project currently under development.
The Company's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) joint venture, which operates a modern zinc recycling plant in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters. Befesa Zinc S.A.U. (Befesa) is the majority partner and the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located in Europe, Asia and the United States of America.
Key Contacts:
Stephen G. Roman | Bob Tait |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to the completion and terms of the Offering and the timing in respect thereof, the use of proceeds of the Offering, and timely receipt of all necessary approvals, including the approval of the TSX; Global Atomic's development potential and timetable of its operations, development and exploration assets; Global Atomic's ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR+ from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomic's annual and interim MD&As.
The TSX has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE: Global Atomic Corporation
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