#Canada #Toronto #Berger Montague #Global Atomic #Dasa Uranium

Investor Alert: An Overview of Berger Montague's Investigation into Global Atomic Corp.

In the intricate realm of financial investments, awareness and transparency play crucial roles for shareholders and potential investors. As such, certain legal firms often step in to address any discrepancies that may arise in corporate disclosures. One such firm, Berger Montague (Canada) PC, has directed its attention to Global Atomic Corp., sparking significant discourse among investors.

Background on Global Atomic Corp.

Founded to operate in the uranium sector, Global Atomic Corp. has been notably developing the Dasa Uranium Project located in the Republic of Niger. As of late January 2025, the firm disclosed that it required substantial funding, reportedly in the hundreds of millions, to ensure the project's success. Given the increasing scrutiny from various financial institutions, the project’s financing needs have become pivotal.

From November 2023 through early 2025, Global Atomic expressed optimism about receiving funds from the U.S. International Finance Corporation (DFC) and Export Development Canada. However, these endorsements reportedly came with critical pre-conditions that were not thoroughly disclosed to the public.

The Missing Pieces

Despite proclamations of financial backing, critical elements of transparency were at play. According to statements made by the law firm, Global Atomic failed to adequately inform its investors of the specific pre-conditions that the DFC required for approval. Furthermore, the lack of clarity regarding why a proposal for funding was not presented to the DFC’s Credit Committee raised eyebrows among regulatory bodies and investors alike.

Additionally, the geopolitical climate further complicates these financial forecasts. The deterioration of relations between the Republic of Niger and the U.S. was highlighted when the federal government had to close two military bases in the nation, diminishing the prospects for financial aid.

Global Atomic's Challenges

By mid-2024, issues arose concerning Global Atomic’s ability to meet the DFC’s conditions. Reports indicated that complications in addressing supplementary inquiries from the DFC were mounting, signaling a troubling shift in the company's trajectory. Coupled with the preceding geopolitical struggles, the potential for support from DFC appeared to diminish, introducing a risk factor that had likely gone unaddressed in earlier investor communications.

On January 23, 2025, CEO Stephen Roman proclaimed confidence that by the end of Q1 2025, the company would share substantial funding developments for the Dasa Project, potentially in the form of a joint venture or bank financing. Despite this assurance, the surrounding uncertainties have prompted the need for vigilance among existing and potential investors.

Call to Action for Investors

Berger Montague encourages anyone who purchased shares of Global Atomic from November 10, 2023, to January 23, 2025, to engage with them regarding this inquiry. Transparency is critical for investors, and understanding the full scope of disclosures, or lack thereof, is essential for making informed decisions.

For those invested in or considering the purchase of Global Atomic shares, staying abreast of the findings from Berger Montague’s investigation could be pivotal. The legal firm prides itself on representing investors involved in cross-border shareholder disputes and emphasizes that staying informed is the bedrock of investor rights.

For further details on their investigations or to reach out, you can visit their website.