NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, July 24, 2024 (GLOBE NEWSWIRE) -- Global Atomic Corporation ("Global Atomic" or the "Company") (TSX:GLO, OTCQX:GLATF, FRANKFURT: G12)) is pleased to announce that due to significant investor demand, the Company has increased the maximum gross proceeds of its previously announced non-brokered private placement (the "Offering") from C$15,000,000 to C$20,000,000. Under the revised Offering, the Company will sell 14,814,815 units of the Company (each, a "Unit") at a price of C$1.35 per Unit. Red Cloud Securities Inc. is acting as a finder in connection with the Offering. Each Unit will consist of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of C$1.80 for a period of 24 months following the issue date. The Warrants shall be subject to an acceleration clause whereby if (i) the 10-day volume weighted average price of the Common Shares is above C$2.50 and, (ii) within a period of 5 trading days following the date the Company provides a notice via widely disseminated press release, the expiry date of the Warrants shall be accelerated to the date that is 30 days from the date of the aforementioned press release. The Company intends to use to use the net proceeds from the Offering for the advancement of the Company's Dasa Project and for general working capital purposes. The Units are being offered on a private placement basis to purchasers in all provinces of Canada pursuant to the accredited investor and minimum investment amount exemptions under National Instrument 45-106 — Prospectus Exemptions. The Units will also be offered to purchasers resident in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended and in such other jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or ...