Globex Mining Enterprises Inc. Completes “Flow-Through” Private Placements
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ROUYN-NORANDA, Oct. 02, 2018 - Globex Mining Enterprises Inc. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges) is pleased to announce that it has held a second closing of a previously-announced private placement by issuing 150,000 “flow-through” common shares at a price of $0.50 per share for proceeds to Globex of $75,000. Globex issued a total of 1,150,000 “flow-through” shares in the private placement for proceeds of $575,000.
Globex also announces that it has completed a second private placement by issuing 600,000 “flow-through” common shares at a price of $0.50 per share for proceeds to Globex of $300,000.
Globex intends to use the proceeds from the two private placements for exploration on certain of its properties in Quebec including but not limited to our Francoeur/Arntfield Gold Mines project where detailed surface work is currently being undertaken on the 450 Gold Zone referenced in Globex’s press release dated August 20, 2018 where surface samples assayed up to 14.16 g /t Au.
As a result of the two closings, there are 52,744,077 common shares of Globex issued and outstanding. Under applicable securities legislation, the shares issued at the closings are subject to a four-month hold period.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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.