ROUYN-NORANDA, Quebec, March 19, 2019 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) is pleased to inform shareholders that it has agreed to waiver the remaining work requirement by Renforth Resources Inc. (CSE-RFR) on Globex’s Parbec Gold property, allowing Renforth to gain 100% interest in the property package located on the Cadillac Fault, west of the Canadian Malartic Mine, in Quebec.
The property, per an announcement made by Renforth on September 25th, 2018, hosts an inferred resource of 9,659,636 tonnes, grading 2.33 g/t Au for 656,875 contained ounces Au and, an indicated resource of 368,105 tonnes grading 3.47 g/t Au for an additional 37,224 oz Au (NI 43-101 Report available in Renforth’s Sedar filing dated November 8, 2018).
In consideration for wavering the remaining work requirement, Renforth agreed to the following:
Globex has agreed to give Renforth a one-time first right of refusal to purchase Globex’s GMR should Globex decide at anytime to sell all or part of its GMR.
Globex is pleased to undertake this agreement in order to facilitate Renforth’s growth.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
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, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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.
51,803,577 shares issued and outstanding