GLOBEX MINING ENTERPRISES INC. ANNOUNCES CLOSING OF “FLOW-THROUGH” PRIVATE PLACEMENT

Jul 11, 2019

July 10, 2019 – Rouyn-Noranda, Québec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchangesand GLBXF – OTCQX International) is pleased toannounce that it has held a first closing of a private placement at which it issued 1,500,000 “flow-through” common shares at a price of $0.40 per share to subscribers outside Quebec and 666,666 “flow-through” common shares at a price of $0.45 per share to subscribers in Quebec, for gross proceeds to Globex of $900,000. Globex intends to use the proceeds from the private placement for exploration on certain of its mining exploration properties in Québec, Nova Scotia and Ontario.

As a result of the closing, there are 53,486,743 common shares of Globex issued and outstanding. Under applicable securities legislation, the shares issued at the closing are subject to a four-month hold period.

Globex may hold additional closings of the private placement for a maximum of 666,666 additional “flow-through” shares to subscribers in Quebec at a price of $0.45 per share.

Jack Stoch, director and executive officer of Globex, purchased 150,000 “flow-through” shares for total consideration of $60,000 in the private placement. The issuance of shares to the director/executive officer constitutes a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions but is exempt from the formal valuation and minority approval requirements thereof as neither the fair market value of the shares issued to the director/executive officer nor the fair market value of the private placement exceeds 25% of Globex’s market capitalization. Globex did not file a material change report with respect to the participation of the director/executive officer at least 21 days prior to the closing of the private placement as his participation had not been determined at that time.

Globex Mining Enterprises Inc.
86, 14e Rue, Rouyn-Noranda QC J9X 2J1 CANADA
Tel.: 819.797.5242, Fax: 819.797.1470
www.globexmining.com
Globex – GMX Toronto Stock Exchange . GLBXF OTCQX International . G1M Frankfurt Stock Exchange