Increased Public Offering Moving Uranium Miner Higher

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, October 9, 2024

Uranium is used to power commercial nuclear reactors that produce electricity and to produce isotopes used for medical, industrial, and defense purposes around the world. News that this miner has increased the size of its public offering is sending shares higher.

Global Atomic Corporation (TSX: GLO) announced in a press release that it has increased the size of its previously announced public offering due to significant investor demand. Global Atomic has entered into an amended and restated underwriting agreement with Red Cloud Securities Inc. as lead underwriter and sole book-runner and Canaccord Genuity Corp. to increase the size of its previously announced public offering. Under the revised offering, Global Atomic will sell to the underwriters for resale 29,167,000 company units for C$1.20 per unit for aggregate gross proceeds of C$35,000,400.

Global Atomic Corporation provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production. Its uranium division is currently developing the fully permitted, large, high-grade Dasa Deposit, which Global Atomic geologists discovered in 2010 through grassroots field exploration.

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