03:51 PM EST, 01/31/2025 (MT Newswires) -- Global Atomic ( GLATF ) , down 7.8% late Friday afternoon amid big losses for the broader market, has closed its previously announced non-brokered private placement for gross proceeds of C$35.6 million. The company sold 44.5 million units of the company at a price of C$0.80 each.

A statement noted each unit consists of one common share of the company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share at a price of C$1.00 at any time on or before January 31, 2028.

The company said it intends to use the net proceeds from the offering for the advancement of the Dasa Project and for general working capital purposes. The offering is subject to customary final approval of the Toronto Stock Exchange (TSX). The company added it may complete a second closing on the $400,000 available under the offering.

Price: 0.61, Change: -0.03, Percent Change: -4.69