Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
56,294,836 shares issued and outstanding
July 26, 2024
Globex Mining Enterprises Inc. Announces Renewal of
Normal Course Issuer Bid
Rouyn -Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN –
Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix
Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) 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 1.78% of Globex’s issued and outstanding shares as of July 19, 2024, over a
twelve -month period starting on August 2, 2024 and ending on August 1, 2025. 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 56,294,836 common shares issued
and outstanding as of July 19, 2024, of which 48,740,245 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 22,553 shares. Consequently, under the policies of the TSX, Globex will have the right
to repurchase during any one trading day a maximum of 5,638 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 shareholde rs. 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, Glo bex 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, 2023 and which expire s on August 1, 2024,
Globex is authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex has repurchased a total of
225,000 common shares at a volume weighted average purchase price of $0.8120 per share, through the
facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were
cancelled by Globex.
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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, m ay 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
Globex Mining Enterprises Inc.
86, 14 th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
www.globexmining.com