ROUYN-NORANDA, Québec, Aug. 17, 2018 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – 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 $1,250,000. The private placement will consist of up to 2,500,000 “flow-through” common shares at a price of $0.50 per share for maximum proceeds to Globex of $1,250,000. Globex retains the right to limit the financing to $1,000,000. Globex intends to use the proceeds from the placement of the “flow-through” shares for exploration on certain of its properties in Quebec. In connection with the private placement, Globex has engaged EMD Financial (“EMD”) of Montreal, Quebec as “finder”. At the closing of the private placement, Globex will pay EMD a fee equal to 4.5% of the gross proceeds from the private placement.
The private placement, which is expected to close on or about August 31, 2018, is subject to regulatory approval, including that of the Toronto Stock Exchange.
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