Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid
PRESS RELEASE Globex Mining Enterprises Inc.
“At Home in North America”
55,429,836 shares issued and outstanding July 28, 2023
Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid
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 the Toronto Stock Exchange (“TSX”) has approved the
renewal of Globex’s normal course issuer bid (“NCIB”). Under the renewed NCIB, Globex will be entitled to
repurchase for cancellation up to 1,000,000 common shares, representing approximately 1.8% of Globex’s
issued and outstanding shares as of July 20, 2023, over a twelve‐month period starting on August 2, 2023 and
ending on August 1, 2024. The purchases by Globex will be effected through the facilities of the TSX and on
alternative trading systems in Canada, and will be made at the market price of the shares at the time of the
purchase. Globex had 55,429,836 common shares issued and outstanding as of July 20, 2023, of which
48,303,745 shares constituted the “public float”.
During the most recently completed six months, the average daily trading volume for Globex’s common
shares on the TSX was 35,080 shares. Consequently, under the policies of the TSX, Globex will have the right
to repurchase during any one trading day a maximum of 8,770 common shares on the TSX, representing 25%
of the average daily trading volume. In addition, Globex may make, once per calendar week, a block purchase
(as such term is defined in the TSX Company Manual) on the TSX of common shares not directly or indirectly
owned by insiders of Globex, in accordance with the policies of the TSX.
Globex intends to acquire the common shares because it believes that the repurchase of common shares at
certain market prices is beneficial to Globex and its shareholders. Globex intends to make any purchases on
an opportunistic basis, taking share price and other considerations into account.
Any purchases made pursuant to the NCIB will be made in accordance with the requirements of the TSX.
Except for exempt offers, Globex will make no purchases of common shares other than open market
purchases during the period of the NCIB.
Under its current NCIB, which entered into effect on August 2, 2022 and which expires on August 1, 2023,
Globex is authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex has repurchased a total of
645,500 common shares at a volume weighted average purchase price of $0.7474 per share, through the
facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were
cancelled by Globex.
In connection with the NCIB, Globex has entered into an automatic share purchase plan with a Canadian
securities dealer pursuant to which the securities dealer, acting as Globex’s agent, may acquire at its
discretion shares on Globex’s behalf during “black‐out” or “closed” periods under Globex’s stock trading
policy, subject to certain parameters as to price and number of shares.
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.
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 Tel.: 819.797.5242 Globex Mining Enterprises Inc. Fax: 819.797.1470 86, 14th Street [email protected] Rouyn‐Noranda, Quebec Canada J9X 2J1 www.globexmining.com