ROUYN-NORANDA, QUEBEC--(Marketwire - June 8, 2012) -
NOT FOR DISTRIBUTION TO U.S NEWS WIRE SERVICES, OR DISSEMINATION IN THE UNITED STATES
GLOBEX MINING ENTERPRISES INC. (TSX:GMX.TO - News)(FRANKFURT:G1M.F - News)(OTCQX:GLBXF - News) is pleased to announce that it has held a first closing of its previously-announced private placement by issuing an aggregate of 998,538 "flow-through" shares at a price of $1.30 per share, for gross proceeds to Globex of approximately $1.3 million. Globex issued the "flow-through" shares to "accredited investors" in Quebec and Ontario and will use the proceeds from the issuance for exploration on certain of its properties in Quebec.
Industrial Alliance Securities Inc. is lead agent for the private placement, which is in a maximum amount of $3.3 million. The agency agreement between Globex and Industrial Alliance Securities provides that additional closings of the private placement may be held until June 26, 2012.
The shares issued today in the private placement are subject to a four-month "hold period" ending on October 9, 2012 under applicable Canadian securities legislation. As a result of the first closing, Globex has 23,749,779 common shares issued and outstanding.
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 Companies expectations and projections. A more detailed discussion of the risks is available in the current Company's "Annual Information Form" available on SEDAR at www.sedar.com
We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 10 3
23,749,779 shares issued and outstanding