Globex Raises Additional Exploration Funds
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 11/03/10 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX: GLBXF) is pleased to inform shareholders that it has closed a private placement by issuing 70,000 'flow-through' common shares to an 'accredited investor' in Ontario at a price of $1.87 per share, for a gross proceeds to Globex of $130,900.
The proceeds from the private placement will be used for exploration and hydrometallurgical test work on Globex's projects in Quebec, Ontario and Nova Scotia. As a result of the closing of the private placement, there are 20,267,674 common shares of Globex issued and outstanding.
Under applicable securities legislation and the policies of the Toronto Stock Exchange, all of the foregoing common shares are subject to a hold period expiring on March 4, 2011.
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 10 3
20,267,674 shares issued and outstanding
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 Companies expectations and projections. A more detailed discussion of the risks is available in the 'Annual Information Form' filed by the Company on SEDAR at www.sedar.com
Contacts:
Globex Mining Enterprises Inc.
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
819-797-5242
819-797-1470 (FAX)
info@globexmining.com
www.globexmining.com