05:12 PM EST, 01/23/2025 (MT Newswires) -- Global Atomic ( GLATF ) on Thursday said it is seeking up to $30 million in a private placement of share units.

The company will place up to 37.5-million units priced a $0.80 each and made up of a share and a three-year warrant to buy a second share for $1.00.

Global Atomic ( GLATF ) will use the funds to advance its Dasa uranium project in Niger and for general purposes.

We remain confident that in Q1 2025 we will have positive news regarding the major component of funding for our Dasa Project in the form of either a bank financing or a joint venture agreement. In the interim we will continue to advance the Dasa Project development and stay on schedule for yellowcake production in early 2026 while we finalize the major funding component. We are pleased to have a new, significant US - based institutional investor whose investment is the lead order in the private placement and have extended these favourable terms to all our shareholders both institutional and retail," chief executive Stephen Roman said.

The company's shares closed up $0.05 to $0.94 on the Toronto Stock Exchange.