$6 warrants - GLO Upsizes Bought Deal to C$30 MillionAn imminent over-subscribed Bought Deal.
Clearly, discussions are going well between Global Atomic and Orano Mining (owner of nearby Uranium ore processing facilities) for the mining, shipment and treatment/processing of Global's Dasa Uranium ores at the Orano Uranium processing complex (Dasa "DSO" Direct Shipping Uranium Ores).
In anticipation of an ambitious development plan, Global gets cashed up to open up mining development of the Dasa Uranium Mine (box-cut, portal, ramp, etc.) in January and early 2022.
Concurrently, Global is drilling the DASA project to upgrade mineral resources located on strike of the phase 1 Flank Zone mining area to the measured and indicated categories and extending Uranium mineralization on strike.
There is now a strong likelihood of accelerated full debt repayment of Zinc operations expansion which is now quite accretive to GLO's "Operations" financials as Global generated a Q3 2021 earnings of $4.35 million.
Key highlight of the C$30 million "
Upsized" Bought deal is the following:
Mr. Stephen Roman reports
GLOBAL ATOMIC ANNOUNCES UPSIZING OF BOUGHT DEAL PRIVATE PLACEMENT TO C$30 MILLION
Due to significant demand, Global Atomic Corp. and Red Cloud Securities Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, have agreed to increase the size of the previously announced private placement from $25-million to $30-million. Under the revised offering, the underwriters have agreed to purchase for resale 7.5 million units of the company at a price of $4 per unit. Each unit will comprise one common share of the company and one-half common share purchase warrant. Each warrant shall be exercisable to acquire one common share of the company at a price of $6 at any time on or before the date that is 18 months after the closing date of the offering.