ROUYN-NORANDA, Quebec, July 19, 2019 (GLOBE NEWSWIRE) -- 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 final closing of its previously-announced private placement at which it issued 711,109 “flow-through” common shares at a price of $0.45 per share to subscribers in Quebec and 50,000 “flow-through” common shares at a price of $0.40 per share to one subscriber outside Quebec, for gross proceeds to Globex of $340,000. Globex intends to use the proceeds from the private placement for exploration on certain of its mining exploration properties in Quebec, Nova Scotia and Ontario.
Globex issued an aggregate of 1,377,775 “flow-through” common shares at a price of $0.45 per share to subscribers in Quebec and 1,550,000 “flow-through” common shares at a price of $0.40 per share to subscribers outside Quebec in the private placement for aggregate gross proceeds of approximately $1,240,000.
As a result of the second closing, there are 54,247,852 common shares of Globex issued and outstanding. Under applicable securities legislation, the shares issued at the second closing are subject to a four-month hold period.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 | |
| 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.