Global Atomic Comments on Disgruntled Activist’s Attempt to Take Control of Company
30 May 2018 - 11:11PM
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 km2.
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 AdvisorsIan Robertson, 416-867-2333Executive Vice
President, Communication
Strategyirobertson@kingsdaleadvisors.comCell: 647-621-2646
Global Atomic Corp (TSXV:GLO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Global Atomic Corp (TSXV:GLO)
Historical Stock Chart
From Jul 2023 to Jul 2024