TORONTO, May 19, 2021 /CNW/ - 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.
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