Not for distribution to U.S. news wire services, or dissemination in the United States.
Globex Mining Enterprises Inc. Completes $550,000 Private Placement
Rouyn-Noranda, Québec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) is pleased to announce that it has completed a private placement of 846,153 “flow-through” common shares at a price of $0.65 per share for proceeds to Globex of $550,000. The $0.65 issue price is at a 55 % premium to the current market price for Globex’s shares. Globex intends to use the proceeds from the private placement for exploration on certain properties in Quebec, New Brunswick and Ontario.
As a result of the private placement, Globex has 51,053,577 common shares issued and outstanding. Under applicable securities legislation, the “flow-through” shares issued in the private placement are subject to a four-month hold period expiring on April 2, 2018.
Globex also wishes to inform shareholders that 1,551,975 common share purchase warrants have expired and that an additional 1,520,000 common share purchase warrants will likely expire by December 15, 2017 without being exercised, having regard to their exercise price.
Subject to the expiry of warrants as indicated above and with the issuance of the 846,153 “flow-through” common shares, Globex has 54,101,077 shares on a fully-diluted basis, 2,225,822 shares less on a fully-diluted basis than prior to the private placement financing.
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