Global Atomic Strengthens Board of Directors
TORONTO, May 10, 2021 /CNW/ - 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."
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company's Uranium Division includes four deposits with the flagship project being the large, highgrade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. Final design in support of the Company's Feasibility Study is on-going.
Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a new, state of the art zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce 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") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe and Asia.
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE Global Atomic Corporation
Stephen G. Roman, Chairman, President and CEO, Tel: +1 (416) 368-3949, Email: [email protected]; Bob Tait, VP Investor Relations, Tel: +1 (416) 558-3858, Email: [email protected]
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