Globex Mining Enterprises Inc. Holds First Closing of Private Placement

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ROUYN-NORANDA, Québec, Aug. 31, 2018 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF – OTCQX International) is pleased to announce that it has held a first closing of its previously-announced private placement at which it issued 1,000,000 “flow-through” common shares at a price of $0.50 per share for proceeds to Globex of $500,000. Globex intends to use the proceeds from the first closing for exploration on certain of its properties in Québec.

As a result of the first closing, there are 52,013,077 common shares of Globex issued and outstanding. Under applicable securities legislation, the shares issued at the first closing are subject to a four-month hold period expiring on January 1, 2019.

Globex may hold additional closings of the private placement.  As previously announced, the private placement is for a maximum of 2,500,000 “flow-through” shares for proceeds to Globex of $1,250,000.

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.

51,013,577 shares issued and outstanding