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Global Atomic Announces Closing of Bought Deal Public Offering for Gross Proceeds of C$56.0 Million
Global Atomic Announces Closing of Bought Deal Public Offering for Gross Proceeds of C$56.0 Milli...
About this update from Global Atomic Corporation
[{"type":"text","content":"\n \n \n \n Global Atomic Announces Closing of Bought Deal Public Offering for Gross Proceeds of C$56.0 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 17, 2023\n \n \n /CNW/ - Global Atomic Corporation (\"Global Atomic\" or the \"Company\") (TSX: GLO) (FRANKFURT: G12) today announced the closing of its previously announced \"bought deal\" prospectus offering (the \"Offering\") for gross proceeds of\n \n C$56,002,501\n \n , which includes exercise of the over-allotment option (the \"Over-Allotment Option\") for proceeds of\n \n C$6,002,500\n \n . Due to significant demand, the Offering was upsized from its original gross proceeds of\n \n C$25.0 million\n \n . Red Cloud Securities Inc. (the \"Underwriter\") acted as sole underwriter and bookrunner under the Offering.\n \n \n \n \n \n \n \n \n \n Under the Offering, the Company sold 18,666,667 units (the \"Units\") and 250,000 Common Share purchase warrants (the \"Warrants\") of the Company, including a total of 2,000,000 Units and 250,000 Warrants pursuant to the Over-Allotment Option, at a price of\n \n C$3.00\n \n per Unit and\n \n C$0.01\n \n per Warrant. Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one Warrant. Each Warrant will be exercisable for one Common Share (each, a \"Warrant Share\") at a price of\n \n C$4.00\n \n per Warrant Share at any time on or before\n \n September 17, 2024\n \n .\n \n \n The Company intends to use the net proceeds raised from the Offering to fund a portion of the capital costs required to advance the Company's Dasa Project in the Republic of\n \n Niger\n \n towards commercial production and for general working capital purposes. Please refer to the Company's press release dated\n \n January 9, 2023\n \n that outlines its plans for the Dasa Project in 2023.\n \n \n The Offering re...