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Global Atomic Announces Proposed Public Offering of Units

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Global Atomic (GLO.TO) after the market close on Tuesday said it entered into an agreement for an overnight marketed public offering of units.

Each unit will consist of a share and one-half of a warrant to buy a second share.

The company said the final offering price, warrant exercise price and term, number of units to be sold and gross proceeds will be determined based on market conditions.

Global Atomic added that there is no assurance the offering will be completed.

The company intends to use the net proceeds for the advancement of the Dasa Project and for general working capital purposes.

Shares of the company closed CA$0.01 down to CA$0.53 on Toronto Stock exchange on Tuesday.

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