Business
Globex-Flow-Through Financing
Globex-Flow-Through Financing
About this update from Globex Mining Enterprises Inc.
[{"type":"text","content":"\nGlobex-Flow-Through Financing\n\n\n Jul. 9, 2009 (Baystreet.ca) -- ROUYN-NORANDA, QUEBEC, CANADA -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(PINK SHEETS: GLBXF) is pleased to announce that it has completed the first closing of a private placement by issuing an aggregate of 640,000 \"flow-through\" common shares at a price of $1.15 per share to \"accredited investors\", for gross proceeds to Globex of $736,000.\n\nGlobex expects to complete the final closing of its $1 million private placement on or before August 3, 2009. \nIn connection with the first closing of the private placement, Globex paid a cash commission to Citadel Securities Inc. of Halifax, Nova Scotia of $23,000, representing 4% of the gross proceeds raised in the private placement through Citadel Securities Inc. \nThe net proceeds from the private placement will be used for exploration on Globex's properties in Quebec and Ontario. Under applicable securities legislation and the policies of the Toronto Stock Exchange, all of the common shares issued by Globex at the closing are subject to a hold period expiring on November 10, 2009. \nJack Stoch and Dianne Stoch, Officers and Directors of the Company, subscribed for 50,000 shares costing $57,500. In addition, Dianne Stoch has purchased 5,000 shares in the market over the previous week. \nWe Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b) CUSIP Number 379900 10 3 \nForward Looking Statements \nExcept 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 \"Annual Information Form\" filed by the Company on SEDAR at www.sedar.com \n18,978,074 shares issued and outstanding \nContacts: Globex Mining Enterprises Inc. Jack Stoch, P.Geo., Acc.Dir. President & CEO 819-797-5242 819-797-1470 (FAX) [email protected] www.globexmining.com \nSOURCE: GLOBEX MINING ENTERPRISES INC. \nmailto:[email protected] http://www.globexmining.com \n\n\n\n","length":2412,"tagName":"div"}]