Business Acquisition Report
TORONTO, May 18, 2018 (GLOBE NEWSWIRE) -- Global Atomic Corp. (“Global Atomic” or the “Company”), (TSX-V:GLO) has filed a Business Acquisition Report on Sedar in connection with its acquisition of Global Atomic Fuels Corporation (“GAFC”) on December 22, 2017, pursuant to a review of the acquisition by the Ontario Securities Commission. This Business Acquisition Report was required to be filed on or before March 7, 2018. The Company had initially considered the transaction to be a reverse takeover for accounting purposes, in which case a report would not be required. On subsequent re-analysis, it was determined that the transaction was not a reverse takeover for accounting purposes and therefore this report is required to be filed. As part of the current filing, the Company has included the audited financial statements of GAFC for the years ended December 31, 2016 and 2015, which were previously filed with the Management Information Circular dated September 1, 2017. Due to a collation error, the auditor’s report filed was not the report for the correct fiscal year. This error has been corrected with the current filing.
About Global Atomic
Global Atomic is a TSX Venture listed company that provides a unique combination of high grade uranium development and cash flowing zinc concentrate production.
Global Atomics’ 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.
Global Atomics’ Base Metals Division holds a 49% interest in the BST joint venture which operates a re-processing 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 with facilities located throughout Europe and Korea.
Key contacts:
Stephen G. Roman George A. Flach, P.Geo.
Chairman, President & CEO Vice President, Exploration
Tel: (416) 368-3949 Tel: (416) 368-3949
Email: sgr@globalatomiccorp.com Email: gaflach@globalatomiccorp.com
The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.