GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) informed shareholders that it has closed a private placement by issuing 70,000 "flow-through" common shares to an "accredited investor" in Ontario at a price of $1.87 per share, for a gross proceeds to Globex of $130,900.
The proceeds from the private placement will be used for exploration and hydrometallurgical test work on Globex's projects in Québec, Ontario and Nova Scotia. As a result of the closing of the private placement, there are 20,267,674 common shares of Globex issued and outstanding.
Under applicable securities legislation and the policies of the Toronto Stock Exchange, all of the foregoing common shares are subject to a hold period expiring on March 4, 2011.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
20,267,674 shares issued and outstanding
Source:
Globex Mining Enterprises Inc.