Global Atomic Secures Acceptance of Strategic Uranium Sale Offer

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[{"type":"text","content":"\n \n \n \n Global Atomic Secures Acceptance of Strategic Uranium Sale Offer\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 June 15, 2022\n \n \n /CNW/ - Global Atomic Corporation (\"Global Atomic\" or the \"Company\") is pleased to advise that it has received a Letter of Intent for the procurement of uranium from a major North American utility. The award follows a comprehensive due diligence process conducted by the utility, and reflects the confidence the fuel buyers have in the Dasa operation.\n \n \n \n \n \n \n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n The award defines the supply of 2.1 million pounds U\n \n 3\n \n O\n \n 8\n \n over a six-year period commencing in 2025, representing approximately 7 percent of Dasa's production over the period.\n \n \n Pricing is designed with two components to provide a blend of predictability and market exposure. The market component is linked to the uranium spot price index, subject to a floor and ceiling. The floor price ensures that the all-in sustaining costs of the Dasa operation are comfortably covered, and the ceiling allows the Company to benefit from the improving market environment.\n \n \n This award, with revenue potential valued at over\n \n US$110 million\n \n in real terms, is consistent with the Company's strategy of establishing sales contracts with Tier 1 global utilities, at volumes sufficient to underwrite debt financing, thereby limiting equity dilution as the Dasa operation moves into production.\n \n \n The award is subject to the successful conclusion of a purchase-sale contract, which the Company will now progress.\n \n \n \n Global Atomic President and CEO,\n \n Stephen G. Roman\n \n commented,\n \n \"This is a significant milestone for Global Atomic and the Dasa operation.  We are cognizant that contract awards for greenfield uranium projects are not made every day, and this is among the first in this market cycle. It reflects the faith the fuel buyers have in our project and the team, and we look forward to fostering this ...

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