Globex Announces Closing of $1.1 Million Private Placement and Exploration
ROUYN-NORANDA, QUÉBEC--(Marketwired - Nov. 26, 2015) -
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Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to announce that it has completed a private placement by issuing 2,537,285 "flow-through" units to subscribers in Québec at a price of $0.35 per unit, for gross proceeds to Globex of $888,050, and 666,666 "flow-through" units at a price of $0.30 per unit, for gross proceeds to Globex of $200,000. The total gross proceeds from the private placement are $1,088,050. Each of the units is comprised of one "flow-through" common share and one-half of a common share purchase warrant. Each full warrant will entitle the holder to acquire one additional common share of Globex at a price of $0.50 until November 26, 2017.
Globex will use the proceeds from the private placement for exploration on certain of its properties in Québec and Ontario.
In connection with the private placement, Globex paid a finder's fee to Secutor Capital Management Corporation in an amount of $54,402.50, representing 5% of the gross proceeds raised in the private placement.
As a result of the private placement, there are 44,447,706 common shares of Globex issued and outstanding. Under applicable securities legislation, the securities issued in the private placement are subject to a four-month hold period, expiring on March 27, 2016.
In other news, Globex has started a 4 hole drill program on our Carpentier Township, Quebec gold and pyrophyllite property. In addition, we are finalizing the interpretation of induced polarization surveys on our Duvan and Great Plains copper-zinc properties in preparation for drilling before the end of the year. Deep penetration airborne geophysical surveys have just been completed on our Lyndhurst copper property and newly acquired Dalhousie copper-nickel property.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 |
Forward Looking Statements
Except for historical information, this news release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. ("Globex"). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com
Contact
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.1470
819.797.5242
info@globexmining.com
www.globexmining.com