Global Atomic Corporation (GLO) has received a statement of claim filed in the Ontario Superior Court of Justice on February 19, 2026, initiating a proposed class action lawsuit against the Company and its Chief Executive Officer. The plaintiff seeks an unspecified amount of damages for alleged misrepresentations made by the Company in its public disclosures during the period from November 10, 2023, to January 23, 2025.
At this time, the Action has not been certified by the Court to proceed as a class action, nor has the necessary leave of the Court been sought under Section 138.8 of the Securities Act (Ontario). Global Atomic intends to vigorously defend itself against this claim.
Global Atomic Corporation, a publicly listed company, specializes in high-grade uranium mine development and cash-flowing zinc concentrate production. The Company’s Uranium Division is actively developing the fully permitted Dasa Deposit, which was discovered in 2010. The “First Blast Ceremony” for this project took place on November 5, 2022, with commissioning currently anticipated in the second half of 2027. Additionally, three other uranium deposits in Niger have been identified for potential advancement.
In its Base Metals Division, Global Atomic holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture. This joint venture operates a state-of-the-art zinc recycling plant located in Iskenderun, Türkiye, recovering zinc from Electric Arc Furnace Dust (EAFD) to produce high-grade zinc oxide concentrate for global sales. Its partner, Befesa Zinc S.A.U., holds a 51% stake and manages the plant, which is a leader in EAFD recycling across Europe, Asia, and the USA.
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The information contained in this release may include forward-looking statements under applicable securities laws. These statements involve risks and uncertainties, including those related to financing, development potential, and operational timelines. Factors influencing these statements include market conditions, regulatory environments, and the success of exploration activities.
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