- Resorts to veiled legal threat in bungled attempt to silence shareholders.
- Vote the BLUE proxy to bring accountability to Global Atomic.
TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Greyling Investments, Inc. (“Greyling”), which owns or controls 7,847,599 shares representing approximately 7.33% of the issued and outstanding shares of Global Atomic Corporation (“Global Atomic” or the “Company”) (TSXV:GLO), commented today on Global Atomic’s board of directors (the “Board”) failure to offer even a perfunctory defence of the concerns raised by Greyling in its May 29, 2018 letter to shareholders in respect of the Company’s conflicted and entrenched Board; generous management compensation; questionable track record and divided attentions of CEO Stephen Roman; the lack of transparency and meaningful disclosure and the enormous value destruction suffered by Global Atomic shareholders.
Greyling notes that the Company, rather than using the forum of its press release to respond to the serious issues Greyling raised, instead had the temerity to decry the “unnecessary time and money” that Greyling’s action would cost, all the while ignoring the ongoing cost to shareholders of clinging to the status quo. Greyling further notes that the Board has hired outside legal counsel and a proxy firm, using shareholder capital to do so, in order to fight the true owners of the Company – its shareholders! Greyling believes shareholders deserve a better response to the legitimate business and operations concerns it has raised.
The Board has also appeared to draw from a familiar basket of tricks and abuse of regulatory process, used by other boards facing serious stewardship questions, by levelling what to Greyling seems to be veiled legal threats that are unfounded and weak attempts to deflect the real issues. Greyling believes that Canadian securities regulators and the courts are tired of being used as forum for entrenched boards who cannot otherwise defend their track records of failure and value destruction.
Greyling will continue to push for an effective, objective board of directors that will oversee Global Atomic’s management and unlock shareholder value. It urges all shareholders of the Company to vote the BLUE proxy for all of its nominees.
The full text of Greyling’s May 29, 2018 letter to shareholders can be found here.
If you have any questions, contact Greyling’s proxy solicitor, Evolution Proxy Inc., at 1-833-744-9230 toll-free in North America, or at 416-907-4204 outside of North America (collect calls accepted), or by e-mail at info@evolutionproxy.com.
Disclaimers
Greyling has not sought or obtained consent from any third party to the use herein of previously published information. Any such information should not be viewed as indicating the support of such third party for the views expressed herein.
Except for the historical information contained herein, the matters addressed in these materials are forward-looking statements that involve certain risks and uncertainties. You should be aware that actual results could differ materially from those contained in the forward-looking statements. Greyling does not assume any obligation to update the forward-looking information.
Source: Greyling Investments, Inc.
Investor Contact:
Evolution Proxy, Inc.
1-833-744-9230 – North America
416-907-4204 – International
info@evolutionproxy.com
Media Contact:
Bayfield Strategy, Inc.
Riyaz Lalani
rlalani@bayfieldstrategy.com