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Silvermet completes merger, changes name to Global Atomic

Silvermet Inc. completed the previously announced merger with Global Atomic Fuels Corp., as well as consolidation of share capital and change of its name to Global Atomic Corp.

Global Atomic Fuels shareholders received 2.147 pre-consolidation common shares and 0.7807 post-consolidation common share of Silvermet for each share held, according to the Dec. 22 release.

Global Atomic Fuels completed a C$1.5 million financing by issuing 5,836,000 units prices at 25 Canadian cents apiece, comprising 1 common share and 0.5 of a purchase warrant.

The post-merger company will trade on the TSX Venture Exchange under the stock symbol GLO, effective Dec. 27.

George Flach and Paul Cronin joined Silvermet's board on completion of the transaction, the company noted.