Silvermet & Global Atomic Sign Definitive Merger Agreement

Silvermet (“Silvermet”) (SYI – TSXV) is pleased to announce that it has entered into a definitive agreement (the “Definitive Agreement”) with Global Atomic Fuels Corporation (“Global Atomic”) pursuant to which Silvermet will acquire all of the outstanding common shares of Global Atomic by way of a “three-cornered amalgamation” and subsequently complete a share consolidation and corporate name change (the “Transaction”) to create a high quality uranium development company, Global Atomic.

Transaction Structure In accordance with the terms of the Definitive Agreement, upon completion of the Transaction, shareholders of Global Atomic (other than Silvermet) will receive 2.147 shares of Silvermet for each share of Global Atomic (the “Exchange Ratio”).
The shares of Global Atomic currently held by Silvermet will be cancelled as a result of the Transaction. Immediately following completion of the Transaction, Silvermet will complete a 2.75:1 share consolidation, resulting in a combined company with approximately 103 million shares on issue.

Upon completion of the Transaction, the former Global Atomic shareholders (other than Silvermet) will own 50% of the combined company. The board of the combined company will be reduced to 5 directors, comprising 3 nominees of Silvermet and 2 nominees of Global Atomic.
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