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Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility
Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American...
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[{"type":"text","content":"\n \n \n \n Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 8, 2023\n \n \n /CNW/ - Global Atomic Corporation (\"Global Atomic\" or the \"Company\"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today that the Company has formalized its\n \n June 2022\n \n Letter of Intent by signing a Definitive Agreement with a major North American utility for their procurement of uranium from the Dasa Project. The agreement represents the supply of up to 2.1 million pounds U\n \n 3\n \n O\n \n 8\n \n within a multi-year delivery window beginning in 2025, representing about 7% of Dasa's annual production over the period with a revenue potential valued in excess of\n \n US$110 million\n \n in real terms.\n \n \n In\n \n January 2023\n \n , the Company formalized a similar agreement with another major North American utility for the procurement of Dasa's uranium, representing the supply of 2.4 million pounds U\n \n 3\n \n O\n \n 8\n \n over a six-year period commencing in 2025, representing a revenue potential of\n \n US$140 million\n \n in real terms.  In total these two agreements represent revenue potential of over\n \n US$250 million\n \n .\n \n \n Global Atomic President and CEO,\n \n Stephen G. Roman\n \n commented, \"\n \n These agreements to supply international electric utilities are important milestones for our Company that provide confirmation to our banks, shareholders and the Government of\n \n Niger\n \n that we have established a guaranteed revenue stream for Dasa. This quarter we are actively in discussions with other utilities for similar agreements with the pre-production intent of signing sufficient volume to cover Dasa's cost of production.\"\n \n \n \n \n About Global Atomic\n \n \n \n Global Atomic Corporation (\n \n www.globalatomiccorp.com\n \n ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc co...