Silvermet Inc. & Global Atomic Fuels Corporation Combination Approved BY Shareholders
8 King Street East, Suite 1700, Toronto, ON M5C 1B5, Tel: 416-203-8336, Fax: 416-368-5146
www.silvermet.ca
SILVERMET INC. & GLOBAL ATOMIC FUELS CORPORATION COMBINATION APPROVED BY SHAREHOLDERS
Toronto, October 2, 2017 – Silvermet Inc. (“Silvermet” or the “Company”) (SYI – TSXV) is pleased to
announce the results of its Annual & Special Meeting of Shareholders (the “ Meeting”) held on September
29, 2017.
The Meeting was very well attended with over 50 people in attendance and 75% of issued and outstanding
common shares represented in person or by proxy at the Meeting.
The prin cipal business of the Meeting was to seek disinterested shareholder approval for the proposed
business combination transaction (the “ Transaction”) between the Company and Global Atomic Fuels
Corporation (“Global Atomic”) through the acquisition by the Comp any of all of the outstanding common
shares of Global Atomic by way of a “three-cornered amalgamation” to create a cash-flowing zinc producer
and world class uranium development company to be named Global Atomic Corporation. Approval was also
sought for a proposed share consolidation and to rename the Company, Global Atomic Corporation, in each
case to be completed concurrently with the Transaction. Further, in addition to electing directors to tak e
office immediately after the Meeting, shareholders were asked to elect an alternate slate of directors to take
office on completion of the Transaction.
Results of Meeting
Transaction – Share Consolidation – Name Change
The Transaction was approved by a vote of 49,708,977 (56%) for to 39,503,000 (44%) against, which results
do not include an aggregate of 16,896,500 votes attached to shares held by certain Directors and Officers of
Silvermet who were not entitled to vote on the Transaction. The consolidation of Silvermet common shares
on the basis of 1 new share for every 2.75 shares held was approved by a vote of 80,194,477 (76%) to
25,914,000 (24%). The change in the name of Silvermet to Global Atomic Corporation was approved by a
vote of 79,415,977 (75%) to 26,692,500 (25%). The implementation of the consolidation and name change
are conditional on the completion of the Transaction.
Board of Directors
At the Meeting, shareholders elected Stephen G. Roman, Rein A. Lehari, Derek C. Rance, Douglas Scharf ,
Keith Spurr, Richard R. Faucher and Asier Zarr aonandia Ayo to serve as Directors of Silvermet and to take
office immediately following the Meeting. The table below sets out the voting results.
Director Votes For Votes Withheld
Stephen G. Roman 82,765,477 (78.0%) 23,343,000 (22.0%)
Rein A. Lehari 68,615,645 (64.67%) 37,492,832 (35.33%)
Derek C. Rance 68,615,645 (64.67%) 37,492,832 (35.33%)
Douglas Scharf 68,615,645 (64.91%) 37,092,832 (35.09%)
Keith Spurr 82,524,477 (77.77%) 23,584,000 (22.23%)
Terence Ortslan 68,570,645 (64.62%) 37,537,832 (35.38%)
Richard R. Faucher 68,265,645 (64.34%) 37,842,832 (35.66%)
Asier Zarraonandia Ayo 68,615,645 (64.67%) 37,492,832 (35.33%)
2
At the Meeting and in order to give effect to the terms of the Transaction, Shareholders also elected an
alternative slate of directors to replace the foregoing Board of Directors and take office on completion of the
Transaction. The alternative slate of directors is comprised of Stephen G. Roman, Derek C. Rance, Douglas
Scharf, George A. Flach, Richard R. Faucher and Paul Cronin. The table below sets out the voting results.
Director Votes For Votes Withheld
Stephen G. Roman 53,036,645 (57.41%) 39,343,000 (42.59%)
Derek C. Rance 52,615,645 (56.96%) 39,764,000 (43.04%)
Douglas Scharf 52,615,645 (56.96%) 39,764,000 (43.04%)
George A. Flach 53,015,645 (57.39%) 39,364,000 (42.61%)
Richard R. Faucher 52,265,645 (56.58%) 40,114,000 (43.42%)
Paul Cronin 52,615,645 (56.96%) 39,764,000 (43.04%)
Shareholders also approved the re -appointment of Price Waterhouse Coopers LLP, Chartered Professional
Accountants as auditors of the Company and the renewal of the Company’s rolling stock option plan.
The completion of the Transaction is subject to the approval of the TSX Venture Exchange.
For further information, please contact:
Stephen G. Roman
Chairman, President & CEO
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Caution concerning forward -looking statements: The information in this release may contain forwar d-looking information under
applicable securities laws. Forward-looking statements in this news release include, but are not limited to, information relating to the
timing and completion of a transaction involving Silvermet. This forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially from those implied by the forward -looking
information. Factors that may cause actual results to vary include, but are not limited to , inaccurate assumptions concerning the
exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic
conditions or conditions in the financial markets and the inability to raise additional financing. In particular, there can be no assurance
that a transaction will be completed on terms satisfactory to Silvermet, if at all. Readers are cautioned not to place undue reliance on
this forward-looking information. Silvermet does not assume the obligation to revise or update his forward-looking information after
the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required
under applicable securities laws. The information in this news release includes the following non -IFRS financial measure: EBITDA.
These financial measures does not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to
similar measures presented by other issuers.