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
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/19/c4643.html