Global Atomic Corporation (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to announce the closing of its previously announced non-brokered private placement for gross proceeds of C$24,839,160 from the sale of 31,048,950 units of the Company at a price of C$0.80 per Unit. Red Cloud Securities Inc. and Canaccord Genuity Corp. acted as finders in connection with the Offering.

Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of C$1.00 at any time on or before June 26, 2028.

The Company intends to use the net proceeds from the Offering for the advancement of the Dasa Project and for general working capital purposes. The Offering remains subject to the final approval of the Toronto Stock Exchange.

The Units were sold to purchasers resident in Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption and purchasers resident in certain offshore foreign jurisdictions pursuant to applicable regulatory requirements and in accordance with OSC Rule 72-503 – Distributions Outside Canada. The Units sold to purchasers in the United States were issued on a private placement basis pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act“). The LIFE Units and Units issued under OSC 72-503 are immediately freely tradeable under applicable Canadian securities laws.

As consideration for their services in connection with the Offering, the Finders received a total cash commission of C$1,180,958 and were issued 1,526,198 non-transferable warrants of the Company. Each Finder’s Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.80 at any time on or before June 26, 2028.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company’s Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration.  The “First Blast Ceremony” occurred on November 5, 2022, and commissioning of the processing plant is scheduled for H2 2026.  Global Atomic has also identified 3 additional uranium deposits in Niger that can be advanced with further assessment work.

Global Atomic’s Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture.  Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.