Global Atomic Announces Results of Annual Meeting
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”; TSX: GLO; Frankfurt: G12; OTCQX: GLATF) today announced shareholder voting results from the Annual Meeting of Shareholders held June 24, 2021.
Directors were elected to the Board as per the voting results in the table below:
Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company.
Global Atomic Strengthens Operations and Corporate Teams in Preparation for Building the Dasa Project
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today the appointment of four new members to its operations and corporate teams as the Company nears the completion of its Feasibility Study for the Dasa Uranium Project in the Republic of Niger.
Recent appointments include:
- Pierre Hardouin, VP Finance
- Ian Moffatt, Project Superintendent, Dasa Project
- Becher Raffoul, Information Technology Manager
- Jacques Tremblay, P. Eng., Manager, Mining Operations, Dasa Project
Stephen G. Roman, President & CEO of Global Atomic, commented, “Global Atomic is on track to complete the Feasibility Study for the Dasa Project and to begin excavating the mine portal in Q1, 2022. In preparation for mine construction, we have begun to strengthen our on site operating team to ensure a smooth transition into full mine development. With the addition of these talented individuals to fill key roles in the organization, we add significant experience in mining development and operations, project management, risk management and finance.”
“Since all business operations in Niger are done in the French language, our team is fully bilingual as well as experienced in West African mining. With a core management team in place, we have begun the recruitment process in Niger to source and hire local talent in order to employ many of the professional uranium miners recently employed at the Cominak mine, which was depleted after almost 50 years of operation.”
Global Atomic Announces Date for its Annual Meeting of Shareholders
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) will webcast its Annual General Meeting of Shareholders (“AGM”) on Thursday, June 24, 2021 at 10:30 a.m. (Toronto time).
Again this year, recognizing the widespread cancellation of public events for the protection of individuals and public safety in the face of the ongoing COVID-19 pandemic, the AGM will be held in a virtual-only format via a live audio webcast at https://virtual-meetings.tsxtrust.com/1117.
Registered shareholders and duly appointed proxyholders who participate in the AGM online will be able to listen to the proceedings, ask questions and vote at the AGM in real time. Shareholders will not be able to atend the AGM physically. Please see “Attending, Participating and Voting at the Virtual Meeting” in the Management Information Circlular for detailed instructions on how to attend, participate and vote at the AGM.
The Management Information Circular and related meeting materials are available on the Company’s website at www.globalatomiccorp.com/investors/annual-general-meeting-of-shareholders/ and under the Company’s SEDAR profile at www.sedar.com.
Global Atomic Appoints HCF as Financial Adviser
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today the appointment of HCF International Advisers Limited (“HCF”) as its adviser to assist in the raising of debt financing for the development of the Dasa Uranium Project in the Republic of Niger.
Stephen G. Roman, President & CEO of Global Atomic, commented, “Global Atomic is making great strides in moving the Dasa Project closer to production. We have expanded the exploration camp to include accommodations for construction personnel, are finalizing the box cut and portal design for the underground ramp, are ordering mining equipment and continuing discussions with utilities regarding off-take agreements for our future yellowcake production. With the Feasibility Study due for completion at the end of next quarter, it is an appropriate time to accelerate our engagement on project financing. We are very pleased to appoint HCF as our financial adviser given their extensive experience with Africa, mining and, specifically, uranium projects. Their reputation and connections with global financiers are second to none. HCF will enable Global Atomic to arrange financing solutions that keep equity dilution to a minimum, a goal I share as the company’s founder and largest shareholder.”
HCF is a leading independent corporate finance advisory boutique based in London, UK with a primary focus on the mining and metals sector and a strong history of securing funding for projects in Africa. HCF provides strategic and financial advice to companies across the complete life cycle of a project on securing funding to bring projects through to operations. HCF is comprised of professionals who have extensive financing and technical experience as well as expertise in the funding of uranium projects.
Established in 2003, HCF has developed a reputation for successfully executing transactions in emerging markets across commodities, with a deep understanding of political risk mitigation. Notably, HCF has recently advised Kinross on their US$300m financing in Mauritania, Ivanhoe Mines on the US$211m equipment financing facility for the Kamoa-Kakula Copper Project in the DRC as well as High Power Exploration, which is currently developing the Nimba Iron Ore Project in Guinea.
Global Atomic Strengthens Board of Directors
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”; TSX: GLO; Frankfurt: G12; OTCQX: GLATF) is pleased to announce the appointment of Dean Chambers, P.Eng, ICD.D to the Company’s Board of Directors effective immediately.
Mr. Chambers is a professional engineer and financial executive with extensive operational, financial, M&A, capital project, and project finance experience. His career as a senior executive in the mining and chemical industries includes progressive positions with The Dow Chemical Company, Falconbridge Limited, Dynatec Corporation and Sherritt International. At the time of his retirement from Sherritt in 2017, Mr. Chambers held the position of Executive Vice President and CFO. He currently serves as an independent director on the Boards of Clean Air Metals and Mountain Province Diamonds. Previously, he served as an independent director and chair of the audit committee on the Board of North American Palladium. Mr. Chambers holds the ICD.D designation from the Institute of Corporate Directors. He also serves on the Industrial Advisory Committee for the Engineering and Management program at McMaster University.
Stephen G. Roman, Chairman, President and CEO of Global Atomic said, “During his extensive career in the mining and chemical industries, Dean Chambers led numerous large capital market, M&A, and project finance transactions. His wealth of experience in this area is a welcome addition to our Board as we complete the feasibility study for the Dasa Project and arrange project financing to begin construction early next year. His financial expertise will be a valued addition to our Audit Committee.” In joining Global Atomic Board of Directors, Mr. Chambers commented, “I am excited by this opportunity to join the Global Atomic team. It is impressive how management has structured the Company and the Dasa Project and it is a privilege to join them at this early stage of such a long-life asset. I look forward to contributing to Global Atomic’s success as it continues to meet the critical development milestones to bring Dasa into production.”
Global Atomic Announces Q1 2021 Results
Significant Milestones achieved at the Dasa Uranium Project
Record Quarter Production at the Turkish Zinc Joint Venture
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today its operating and financial results for the three months ended March 31, 2021.
Dasa Uranium Project
- The Republic of Niger issued an Environmental Certificate of Compliance to the Company in January 2021.
- All permits are now in place for the development of the Dasa Project and commercial production.
- The Republic of Niger issued extensions for each of the six exploration permits held by the Company through December 17, 2023.
- The Pilot Plant project to test and optimize the process flow sheet launched in 2020 was successfully completed with results that surpassed the May 2020 PEA and feature higher uranium recoveries.
- An agreement was signed with Fuel Link Ltd. to develop a uranium marketing strategy and assist with Yellowcake sales.
Turkish Zinc Joint Venture
- The Turkish JV shipped a record 14.85 million pounds of zinc in concentrate during Q1 2021, up 43.5% from the 10.35 million pounds shipped in Q1 2020.
- The Turkish JV processed a record 24,407 tonnes of Electric Arc Furnace Dust (“EAFD”) in Q1 2021, an increase of 32.5% from the 18,420 tonnes processed in Q1 2020.
- The Company’s share of the Turkish Zinc Joint Venture (“Turkish JV”) EBITDA was $4.2 million in Q1 2021 compared with $0.8 million in Q1 2020, reflecting higher throughput and zinc prices.
- The Company’s share of the Turkish JV Net Income for Q1 2021 was $1.5 million compared to a loss of $1.2 million in Q1 2020.
- Cash balance for the Turkish JV at March 31, 2021 was US $4.0 million.
- The non-recourse Turkish JV debt owing to Befesa was reduced by US $4.45 million in Q1 2021 leaving a balance of US $9.15 million outstanding (Global Atomic share – US $4.48 million).