Globex Mining Enterprises Inc. Announces $1,000,000 Private Placement G1M – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF –
PRESS RELEASE Globex Mining Enterprises Inc.
“At Home in North America”
46,502,706 shares issued and outstanding
November 29, 2016
Not for distribution to U.S. news wire services, or dissemination in the United States
Globex Mining Enterprises Inc. Announces $1,000,000 Private Placement
Rouyn‐Noranda, Québec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – 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 $1,000,000. The private placement will consist of up to 2,000,000 “flow-through” common shares at a price of $0.45 per share for maximum proceeds to Globex of $900,000 and up to 250,000 common shares at a price of $0.40 per share for maximum proceeds to Globex of $100,000. Globex intends to use the proceeds from the placement of the “flow-through” shares for exploration on certain of its properties in Quebec, New Brunswick and Ontario and to use the net proceeds from the placement of the common shares for working capital purposes.
In connection with the private placement, Globex has engaged First Republic Capital Corporation (“First Republic”) of Toronto, Ontario as lead “finder” and lead book runner. At the closing of the private placement, Globex will pay First Republic a fee equal to 5% of the gross proceeds from the private placement and will issue 200,000 finder’s warrants to First Republic, each of which will entitle First Republic to purchase one Globex common share at an exercise price of $0.60 for a period of 12 months from the closing date of the private placement.
The private placement, which is expected to close on or about December 15, 2016, is subject to regulatory approval, including that of the Toronto Stock Exchange.
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 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