|Globex Mining Enterprises Inc.
TSX : GMX
June 14, 2016 15:09 ET
ROUYN-NORANDA, QUÉBEC–(Marketwired – June 14, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES, OR DISSEMINATION IN THE UNITED STATES
GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to announce that it has completed a previously-announced private placement with principally institutional investors of 1,320,000 units at a price of $0.40 per unit, for gross proceeds to Globex of $528,000. Each of the units is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Globex at a price of $0.55 for a period of 18 months from the closing date of the private placement. Globex intends to use the net proceeds from the private placement for working capital purposes.
In connection with the private placement, Globex paid Secutor Capital Management Corporation a fee equal to 6% of the proceeds from the private placement.
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|
46,122,706 shares issued and outstanding