Global Atomic Corp Secures C$24.8M to Advance Dasa Project and Strengthen Operations
- Global Atomic raised C$24,839,160 through a private placement to advance the Dasa Project in Niger.
- The Dasa Project aims to start operations by late 2026, enhancing Global Atomic's uranium production capabilities.
- Funds will also support general working capital, ensuring operational flexibility amid market fluctuations.
Global Atomic Corp Secures Funding to Drive Dasa Project Forward
Global Atomic Corporation ("Global Atomic") successfully closes a non-brokered private placement, raising C$24,839,160 through the sale of 31,048,950 units at C$0.80 each. Each unit comprises one common share and one warrant, which allows investors to purchase an additional common share at C$1.00 until June 26, 2028. This financial maneuver positions the company to bolster its operations in the uranium and zinc sectors, particularly focusing on advancing the Dasa Project in Niger.
The funds raised through this private placement are critical for the development of the Dasa Project, an initiative that is anticipated to commence processing plant operations by the second half of 2026. The project is expected to play a vital role in Global Atomic’s strategy to enhance its uranium production capabilities. The company’s management expects that the Dasa Project will not only contribute significantly to its revenue streams but also strengthen its position in the growing global demand for uranium, a key component in nuclear energy production. With the completion of this funding round, Global Atomic demonstrates its commitment to scaling operations and stepping up its contributions to the nuclear supply chain.
In addition to advancing the Dasa Project, the company also allocates a portion of the raised funds for general working capital. This strategic financial planning ensures that Global Atomic can maintain operational flexibility and navigate potential market fluctuations. The offering remains subject to final approval from the Toronto Stock Exchange (TSX), which underscores the company's adherence to regulatory standards and its commitment to transparency as it pursues further growth in the uranium and base metals market.
Beyond the Dasa Project, Global Atomic holds a 49% stake in a zinc recycling joint venture in Turkey, which produces high-grade zinc oxide concentrate. This diversification into zinc not only enhances the company's portfolio but also positions it favorably within the base metals market. The strategic initiatives undertaken by Global Atomic reflect a robust growth trajectory and a focused approach to capitalizing on opportunities within the uranium and zinc industries.
Overall, Global Atomic continues to solidify its role as a significant player in the uranium and base metals sector, leveraging recent financial successes to propel its projects forward and enhance its operational capabilities. The company's forward-looking plans emphasize potential production increases and funding strategies, yet they remain aware of the inherent risks and uncertainties in the industry.
