Global Atomic Shareholder Issues Open Letter to Fellow Shareholders Confirming Support for Current Management and the Incumbent Board
- Highlights successes under the leadership of Stephen Roman and his team
- Warns shareholders about Greyling Investments’ motivations: “Don’t let opportunists steal the company”
- Urges fellow shareholders to vote their white proxy today
Seattle: Brian Lawrence, owning or exercising control or direction over 3.5MM shares of Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V:GLO), has issued an open letter to fellow shareholders, criticizing the attempt by a self-interested, opportunist to seize control of the Company at a critical juncture and outlining why he is supporting the Company’s management and Board of Directors (the “Board”).
The full text of Mr. Lawrence’s letter is included below:
To my fellow Global Atomic Shareholders,
My name is Brian Lawrence and I have been a long-term investor, not only in Global Atomic and its predecessor entities for over a decade, but of other companies that have been led by this management team. I currently own approximately 3.5MM shares of Global Atomic which would make me one of the top 10 investors in the Company. As a long-term investor in Canadian resource stocks, I have made good returns understanding asset values and, more importantly, I know the importance of having the right team to execute on a strategic plan to develop the asset values. I know Stephen Roman and his team to be the best at what they do. I also know when someone is trying to hoodwink me with diversionary smoke screens in an attempt to steal my company’s assets. That is precisely what is going on here, fellow shareholders.
I invested in both Silvermet and Global Atomic Fuels Corporation because I saw the fundamental asset potential in those businesses and had confidence in Stephen Roman and his team to turn that potential into actual value. My confidence comes from having invested in Gold Eagle, which Stephen discovered, developed and sold to Goldcorp for $1.5 billion – winning Stephen and his team a PDAC award for Prospector of the Year. Verena Minerals, now known as Belo Sun Mining, went from a start-up private company to a $250M market cap with a 10MMoz resource that is in final stages of permitting prior to construction. Harte Gold under Stephen and his team has gone from a market value of less than $5MM to over $250MM and is poised to begin production at its high-grade Sugar Zone gold mine in Ontario. As a top 5 shareholder in Harte Gold, I am naturally pleased with this investment.
Likewise, Global Atomic’s uranium asset in Niger started as a private start-up by Stephen Roman and a partner to now being without doubt a world class deposit as recent “off scale” drilling results have shown. Now at a late stage resource definition / early mine planning, an ore sales agreement is already in place with France’s national uranium company, and it is only a matter of time until we see this asset deliver significant shareholder value. Similarly, the Silvermet business of processing and concentrating industrial zinc, has been profitable and is growing with recent announcements for investments to nearly double production. Time and again, this management team has proven its ability to create value. The most recent quarterly results were received very favourably by the market.
In my view, the unwarranted attack by Greyling on the current management team and the Board is nothing short of an attempt to steal the Company from underneath us as shareholders, after much of the hard work has been done, without so much as a change of control premium that we are entitled to. The dissidents are opportunists slinging mud but they have no credible plan that a) increases our zinc processing capabilities or b) outlines a faster path to production on our uranium asset. Given these are our businesses, their so called “plan” is financial and operational vapour.
I have voted all my shares FOR the incumbent Board and I urge you to do the same.