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ROUYN-NORANDA, Québec, Aug. 17, 2018 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) announces that it will effect a private placement for maximum gross proceeds to Globex of $1,250,000. The private placement will consist of up to 2,500,000 “flow-through” common shares at a price of $0.50 per share for maximum proceeds to Globex of $1,250,000. Globex retains the right to limit the financing to $1,000,000. Globex intends to use the proceeds from the placement of the “flow-through” shares for exploration on certain of its properties in Quebec. In connection with the private placement, Globex has engaged EMD Financial (“EMD”) of Montreal, Quebec as “finder”. At the closing of the private placement, Globex will pay EMD a fee equal to 4.5% of the gross proceeds from the private placement.
The private placement, which is expected to close on or about August 31, 2018, is subject to regulatory approval, including that of the Toronto Stock Exchange
This press release was written by Jack Stoch, 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 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
51,013,577 shares issued and outstanding