Global Atomic Shareholder Issues Open Letter to Fellow Shareholders Confirming Support for Current Management and the Incumbe...
May 30 2018 - 2:26PM
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.
Sincerely,
Brian Lawrence
Contact:
Brian LawrenceGLOshareholder@gmail.com
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