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Global Atomic Provides Update on Operations and Public Offering
Global Atomic Provides Update on Operations and Public Offering Canada NewsWire ...
About this update from Global Atomic Corporation
[{"type":"text","content":"\n \n \n \n Global Atomic Provides Update on Operations and Public Offering\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 /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 TORONTO\n \n \n ,\n \n \n Feb. 24, 2023\n \n \n /CNW/ - Global Atomic Corporation (\"Global Atomic\" or the \"Company\") (TSX: GLO) (FRANKFURT: G12) announced today that further to its news release dated\n \n February 14, 2023\n \n an appeal of the orders granted last week against the Company's\n \n Niger\n \n subsidiary, SOMIDA S.A., was heard today in the Appeals Court in Tahoua,\n \n Niger\n \n . It is anticipated that the court will issue its decision on the appeal shortly.\n \n \n \n \n \n \n \n \n \n Global Atomic also announced that it has agreed to terminate the underwritten public offering previously announced on\n \n January 25, 2023\n \n . The termination results from an assessment that current market conditions resulting from the uncertainty surrounding the proceedings involving SOMIDA in\n \n Niger\n \n are not conducive for completing an offering on terms that would be in the best interests of the Company's shareholders. Following the outcome of the appeal, the Company will assess financing options. The debt component of the Dasa Project Financing continues to progress with further news expected at the end of Q1, 2023.\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 concentrate production.\n \n \n The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of\n \n Niger\n \n , the Dasa Proje...