04:29 PM EDT, 06/17/2025 (MT Newswires) -- Global Atomic ( GLATF ) after trade Tuesday said it is seeking $30 million from a non-brokered private placement, offering up to 37.5-million share units priced at $0.80 per unit.

The unites are made up of a share and a three-year warrant to buy a second share for $1.00.

The company said it intends to use proceeds from the offering for the advancement of the Dasa Project in Niger and for general working capital purposes.

"Today's offering will support continued development work at Dasa. We have mitigated the size of this offering by slowing our capital spending, which will continue until we have secured our primary funding commitments," chief executive Stephen Roman said.

Roman also added: "We continue to work on several financing solutions and remain very upbeat about securing a financial commitment soon. We are actively working with the U.S. development bank on final preparations for their presentation to their credit committee. Simultaneously we have reached agreement with a JV partner on the major terms of an agreement for them to take a minority interest at the project level. The company also continues to assess non-equity interim financing options."

Global Atomic ( GLATF ) shares closed down $0.04, or 4.3%, to $0.89 on the Toronto Stock Exchange.