Business
American Atomics Announces Closing of Private Placement of Units
VANCOUVER, BC, March 3, 2026 /CNW/ - American Atomics Inc. (the "Company") (CSE: NUKE) (OTC: GNEMF) (FWB: Q3B) is pleased to announce, pursuant to its news rele
About this update from American Atomics Inc.
[{"type":"text","content":" VANCOUVER, BC, March 3, 2026 /CNW/ - American Atomics Inc. (the \"Company\") (CSE: NUKE) (OTC: GNEMF) (FWB: Q3B) is pleased to announce, pursuant to its news releases from February 6, 2026, February 9, 2026, and February 20, 2026, that it has closed its previously announced upsized non-brokered private placement (the \"Offering\") of units of the Company (the \"Units\"). The total size of the Offering consists of 7,680,000 Units for aggregate gross proceeds of $1,920,000. Each Unit consists of one common share in the capital of the Company (a \"Share\") and one-half of one Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire an additional Share (a \"Warrant Share\") at a price of $0.35 per Warrant Share for a period ending 24 months after issuance. David Mitchell CEO American Atomics stated \"We are very pleased to have closed this upsized financing and for the strong market interest that it received. We look forward to now working to complete our definitive agreement with Big Indian in the days ahead and continuing to push forward with our plans for American Atomics\". Additionally, the Company announces that it has issued 322,000 Units to Terry Lynch (the \"Creditor\") in satisfaction of a debt conversion transaction whereby the Company converted an aggregate of $80,500 in outstanding debt obligations owing to the Creditor (the \"Debt Settlement\"). The Units issued to the Creditor under the Debt Settlement are on the same terms as the Units issued under the Offering. The Company intends to use the net proceeds from the Offering to support a transaction with Big Indian Prospectors LLC, as announced on October 27, 2025, working capital, and general and administrative expenses. Units issued in the Offering and the Debt Settlement are subject to a four-month hold period in accordance with applicable securities laws, which will expire four months and one day from the date issuance. In connection with the closing of the Offering, the Company paid certain eligible finders (each, a \"Finder\") aggregate cash commissions of $30,100, being equal to 7% of the aggregate gross proceeds raised from those purchasers introduced by such Finder. Certain directors of the Company (the \"Insiders\") subscribed for an aggregate of 330,000 Units for aggregate gross proceeds of $82,5...