- Distracting and potentially costly action will not succeed
- Business as usual at the Company
TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”) , (TSX-V: GLO ) confirms it is aware of the announcement by Greyling Investments (“Greyling”) regarding its intention to nominate six candidates to stand for election at the Company’s annual and special meeting of shareholders.
Sadly, Greyling’s misguided views are heavy on innuendo and light on facts. Global Atomic will provide a detailed response in due course. In the meantime, it is business as usual at the Company.
As part of its active and ongoing communications with all shareholders, and reflective of Greyling’s early investment in both of the Company’s predecessor entities, Global Atomic’s Board of Directors (the “Board”) had reached-out to Greyling ahead of the merger of Silvermet and Global Atomic, and Greyling – who now criticizes the merger – was supportive.
It is unfortunate that a self-interested activist with a personal issue against the Company has chosen to distract from Global Atomic’s progress. It is, however, not surprising given the track record of disruption and operational interference that this dissident has demonstrated with the predecessor entities. Despite the unnecessary time and money that Greyling’s misguided actions will require, the Board and management of Global Atomic remain focused on continuing to deliver on its strategic plan and building long-term value for all shareholders.
As a reminder to all market participants, the Company expects all shareholders, including any persons acting jointly or in concert with Greyling, to comply with Canadian early warning and alternative monthly reporting rules.
Advisors
Global Atomic has retained Norton Rose Fulbright Canada LLP as its legal advisor and Kingsdale Advisors as its strategic shareholder and communications advisor.
About Global Atomic
Global Atomic is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production. Global Atomic’s Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km 2 . Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The DASA deposit is currently under development in order to begin shipments to Orano Mining’s uranium processing plant in Arlit, Republic of Niger, under an MOU signed in July 2017.
Global Atomic’s Base Metals Division holds a 49% interest in the BST joint venture, operating a facility located in Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust) into 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 BST. Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of European EAFD market with facilities located throughout Europe and Korea.
Media Contact:
Kingsdale Advisors
Ian Robertson, 416-867-2333
Executive Vice President, Communication Strategy
irobertson@kingsdaleadvisors.com
Cell: 647-621-2646
