Globex Mining Enterprises Inc. Announces $500,000 Private Placement
ROUYN-NORANDA, QUÉBEC--(Marketwired - June 3, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES, OR DISSEMINATION IN THE UNITED STATES
Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) announces that it will effect a private placement with institutional investors of up to 1,250,000 units at a price of $0.40 per unit, for maximum gross proceeds to Globex of $500,000. Each of the units will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of Globex at a price of $0.55 for a period of 18 months from the closing date of the private placement. Globex intends to use the net proceeds from the private placement for working capital purposes.
In connection with the private placement, Globex will pay Secutor Capital Management Corporation a fee equal to 6% of proceeds.
The Toronto Stock Exchange has conditionally approved the private placement, subject to Globex filing standard closing documents.
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, including the closing of the private placement referred to in this news release, 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.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 - 2(b) |
| CUSIP Number 379900 50 9 |
44,797,706 shares issued and outstanding
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