Global Atomic Corp. Secures Funding for Dasa Project Advancement Amid Trading Developments
- Global Atomic Corp is raising up to C$30 million to advance its Dasa Project in Niger.
- The Dasa Project features high-grade uranium resources, positioning Global Atomic as a key player in the market.
- A trading halt was imposed by CIRO, but trading resumed on June 18, 2025, following regulatory review.
Global Atomic Corporation Pursues Funding to Advance Dasa Project
Global Atomic Corporation (TSX: GLO) announces a non-brokered private placement to raise gross proceeds of up to C$30 million, selling up to 37.5 million units at a price of C$0.80 per unit. Each unit consists of one common share and a purchase warrant, which grants the holder the option to purchase an additional common share at C$1.00 within a 36-month period. The primary aim of this financing is to support the advancement of the Dasa Project located in Niger, a crucial initiative for the company's uranium division. President and CEO Stephen Roman emphasizes the significance of this funding in continuing development efforts while also exploring multiple financing solutions, including potential commitments from a U.S. development bank and a joint venture agreement for minority interests at the project level.
The Dasa Project stands out in Global Atomic's portfolio, characterized by its high-grade uranium resources that position the company as a key player in the sector. With the processing plant expected to be commissioned in the second half of 2026, the successful completion of this private placement is vital for ensuring that the necessary capital is available for advancing project timelines and operational milestones. The company’s strategic focus on high-grade uranium development coupled with its base metals division, which holds a 49% stake in a zinc recycling joint venture in Turkey, further diversifies its investment opportunities and revenue streams.
The private placement includes up to 25 million units, amounting to C$20 million, available under the Listed Issuer Financing Exemption for Canadian investors, while the remainder is offered under the accredited investor exemption. The anticipated closing date for the offering is around June 25, 2025, subject to regulatory approvals. This move not only reflects Global Atomic’s proactive approach to funding its projects but also signals confidence in the future of the Dasa Project and its potential contribution to the uranium market.
In a related development, the Canadian Investment Regulatory Organization (CIRO) recently imposed a trading halt on Global Atomic Corporation due to pending news. This temporary suspension, effective from June 17, 2025, underscores CIRO's commitment to maintaining market integrity by ensuring that all investors have equal access to significant information. The halt affects all trading activities related to Global Atomic and is a reminder of the regulatory framework that governs publicly listed companies.
Following the trading halt, Global Atomic Corporation resumed trading on June 18, 2025, at 8:00 AM ET. The resumption allows investors to re-engage with the company's securities and reflects CIRO's role in facilitating a transparent trading environment. Stakeholders and investors are now closely monitoring the situation for updates regarding the nature of the news that prompted the halt, as it may provide further insights into the company's operations and strategic direction.