Globex Closes $1.3 Million Private Placement
04 October 2011 - 12:43AM
Marketwired
GLOBEX MINING ENTERPRISES INC.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform
shareholders that it has completed a private placement by issuing
490,566 "flow-through" common shares at a price of $2.65 per share
to five "accredited investors", for gross proceeds to Globex of
$1.3 million. Globex will use the proceeds from the private
placement for exploration on its projects in Quebec, Ontario, Nova
Scotia and New Brunswick.
Globex paid a $24,000 commission to cover legal and
administration costs but did not issue any warrants or broker
warrants in connection with the private placement.
Under applicable securities legislation and the policies of the
Toronto Stock Exchange, the shares issued in the private placement
are subject to a hold period expiring on January, 31st, 2012.
Considering the turmoil in the markets, Globex wishes to thank
the funds and private investors who purchased the shares for their
confidence in the future of the company, our assets, their
intrinsic value and long term potential.
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
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.
22,526,241 shares issued and outstanding
Contacts: Jack Stoch, P.Geo., Acc.Dir. President & CEO
Globex Mining Enterprises Inc. 819.797.5242 819.797.1470
(FAX)info@globexmining.comwww.globexmining.com
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