Global Atomic Announces ATM Facility

• Global Atomic Corporation announced a re-established At-The-Market (ATM) equity facility with an aggregate offering price of up to C$50 million.
• The program is effective through April 30, 2028, replacing a previous ATM that expired on December 21, 2025.
• Agents for the facility are Cantor Fitzgerald Canada Corporation and Canaccord Genuity Corp.
• Proceeds will be used for continued development of the Dasa Project in Niger and general corporate purposes.
• Common shares will be issued from treasury and distributed directly on the Toronto Stock Exchange (TSX) at prevailing market prices.
• This announcement follows a Q1 2026 earnings release showing a cash balance of $59.1 million as of March 31, 2026.

• The ATM facility is not an immediate capital raise but establishes the capacity for future dilution.
• Given the company's reported cash position of $59.1 million (Q1 2026) and a recent C$72.5 million equity raise in February 2026, this ATM appears redundant unless management anticipates significant capital burn before non-equity financing closes.
• The market reaction was negative, with the stock price declining from $0.80 on May 13 to $0.76 on May 14, indicating investor concern over equity dilution when debt or joint venture options are still pending.
• This does not constitute a material change in valuation but reinforces the narrative of continued reliance on equity markets despite stated goals for non-equity financing (US Development Bank).

• Company: Global Atomic Corporation is a uranium mining company focused on the Dasa Uranium Project in the Republic of Niger.
• Flagship Project (Dasa): An underground mine development project currently in construction phase.
• Development Status: Underground access to the 4th level has been opened; process plant procurement and manufacturing are nearing completion with commissioning scheduled for Q4 2027.
• Production Timeline: First yellowcake shipments expected in H1 2028, subject to project financing.
• Secondary Asset: Turkish Zinc Joint Venture (Befesa Silvermet Turkey) which generated $3.6 million EBITDA and $2.1 million net income in Q1 2026, providing cash flow support.