Jack Stoch Acquires Shares of Globex Mining Enterprises Inc.

ROUYN-NORANDA, Quebec, June 06, 2018 (GLOBE NEWSWIRE) -- Globex Mining Enterprises Inc. (TSX:GMX) (FRANKFURT:G1MN) (STUTTGART:G1MN) (BERLIN:G1MN) (MUNICH:G1MN) (XETRA:G1MN) (OTCQX:GLBXF) reports that Jack Stoch (the “Acquiror”), President, Chief Executive Officer and a director of Globex Mining Enterprises Inc. (the “Corporation”), announces that he has indirectly acquired a total of 721,000 common shares of the Corporation in the secondary market.

Specifically, the Acquiror acquired the following common shares of the Corporation in the secondary market: (i) on June 1, 2018, 676,500 shares at a price of $0.375 per share; (ii) on June 4, 2018, 19,500 shares at a price of $0.415 per share; and (iii) on June 5, 2018, 24,500 shares at a price of $0.415 per share and 500 shares at a price of $0.42 per share (collectively, the “Transactions”).

Immediately prior to the closing of the Transactions, the Acquiror together with his wife Dianne Stoch, Executive Vice-President and a director of the Corporation, held, directly or indirectly, (i) 4,222,591 common shares of the Corporation, representing 8.27% of the issued and outstanding common shares, and (ii) options entitling the Acquiror and Dianne Stoch to purchase up to 1,757,500 common shares of the Corporation. Assuming the exercise of all options held by the Acquiror and Dianne Stoch, prior to the closing of the Transactions, the Acquiror together with Dianne Stoch would have owned 5,980,091 common shares, representing, on a partially-diluted basis, 11.32% of the Corporation’s common shares that would have then been issued and outstanding.

Immediately following the closing of the Transactions, the Acquiror together with Dianne Stoch holds, directly or indirectly, (i) 4,943,591 common shares of the Corporation, representing 9.68% of the issued and outstanding common shares, and (ii) options entitling the Acquiror and Dianne Stoch to purchase up to 1,757,500 common shares of the Corporation. Assuming the exercise of all options held by the Acquiror and Dianne Stoch, following the closing of the Transactions the Acquiror together with Dianne Stoch would own 6,701,091 common shares, representing 12.69% of the Corporation’s common shares that would then be issued and outstanding.

The Acquiror acquired the shares described in this press release for investment purposes and in accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.

The shares described in this press release were acquired by Jack Stoch Geoconsultant Services Limited, a company controlled by Jack Stoch.

A copy of the early warning report to be filed by the Acquiror in connection with the Transactions described above will be available on SEDAR under the Corporation’s profile. This news release is issued under the early warning provisions of the Canadian securities legislation.

51,048,577 shares issued and outstanding