TORONTO, Sept. 13,
2024 /CNW/ - Global Atomic Corporation ("Global
Atomic" or the "Company") (TSX: GLO) (OTCQX: GLATF)
(FRANKFURT: G12) announces that it has applied to the Toronto Stock
Exchange (the "TSX") to extend the expiry dates of a total
of 9,583,334 outstanding common share purchase warrants of the
Company (the "Warrants") and 560,000 outstanding broker
warrants (the "Broker Warrants"). The Warrants and Broker
Warrants were issued pursuant to a public offering of securities of
the Company which closed on March 17,
2023. Each of the Warrants has an exercise price of
C$4.00 per share and each of the
Broker Warrants has an exercise price of C$3.00 per share. Both the Warrants and the
Broker Warrants have an expiry date of September 17, 2024. The Company has applied to
the TSX to extend the expiry date to December 31, 2024. No insiders of the Company
hold any of these Warrants or Broker Warrants, directly or
indirectly. Finalization of this extension is subject to the
approval of the TSX. If such approval is obtained, this extension
will be effective ten business days from the date of this news
release.
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a
publicly listed company that provides a unique combination of
high-grade uranium mine development and cash-flowing zinc
concentrate production.
The Company's Uranium Division is currently developing the fully
permitted, large, high grade Dasa Deposit, discovered in 2010 by
Global Atomic geologists through grassroots field exploration. The
"First Blast Ceremony" occurred on November
5, 2022, and commissioning of the processing plant is
scheduled for Q1, 2026. Global Atomic has also identified 3
additional uranium deposits in Niger that will be advanced with further
assessment work.
Global Atomic's Base Metals Division holds a 49% interest in the
Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a
modern zinc recycling plant, located in Iskenderun, Türkiye. The
plant recovers zinc from Electric Arc Furnace Dust (EAFD) to
produce a high-grade zinc oxide concentrate which is sold to zinc
smelters around the world. The Company's joint venture partner,
Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the
operator of the BST Joint Venture. Befesa is a market leader in
EAFD recycling, with approximately 50% of the European EAFD market
and facilities located throughout Europe, Asia
and the United States of
America.
The information in this release may contain forward-looking
information under applicable securities laws. Forward-looking
information includes, but is not limited to, statements with
respect to completion of any financings; Global Atomics'
development potential and timetable of its operations, development
and exploration assets; Global Atomics' ability to raise additional
funds necessary; the future price of uranium; the estimation of
mineral reserves and resources; conclusions of economic evaluation;
the realization of mineral reserve estimates; the timing and amount
of estimated future production, development and exploration; cost
of future activities; capital and operating expenditures; success
of exploration activities; mining or processing issues; currency
exchange rates; government regulation of mining operations; and
environmental and permitting risks. Generally, forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "is expected", "estimates", variations
of such words and phrases or statements that certain actions,
events or results "could", "would", "might", "will be taken", "will
begin", "will include", "are expected", "occur" or "be achieved".
All information contained in this news release, other than
statements of current or historical fact, is forward-looking
information. Statements of forward-looking information are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of Global Atomic to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to those risks described in the annual information
form of Global Atomic and in its public documents filed on SEDAR
from time to time.
Forward-looking statements are based on the opinions and
estimates of management at the date such statements are made.
Although management of Global Atomic has attempted to identify
important factors that could cause actual results to be materially
different from those forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance upon forward-looking
statements. Global Atomic does not undertake to update any
forward-looking statements, except in accordance with applicable
securities law. Readers should also review the risks and
uncertainties sections of Global Atomics' annual and interim
MD&As.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this news
release.
SOURCE Global Atomic Corporation