Globex Reports Additional Transactions
14 Agosto 2023 - 6:30AM
GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock
Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich,
Tradegate, Lang & Schwarz, LS Exchange, TTMzero,
Düsseldorf and Quotrix Düsseldorf Stock
Exchanges and GLBXF – OTCQX
International in the US) is pleased to inform shareholders
of several transactions that have recently been signed or completed
by Globex.
Globex is pleased to inform shareholders
that it has received a cash payment of $2,000,000 from Agnico Eagle
as the third payment toward the purchase of the Francoeur/Arntfield
property, west of Rouyn-Noranda. Globex is due to receive an
additional $6,000,000 over the next 23 months.
Globex has signed an option agreement for its
5-claim block, Gwillin Lake gold property in
Barlow Township, Quebec with Tomagold Corporation
(LOT-V) whereas Tomagold may earn 100% interest in the
claims. Under the terms of the option agreement, Tomagold may make
cash payments totaling $130,000 over four years, issue 625,000
Tomagold shares upon signing and an additional $100,000 worth of
Tomagold shares, in four (4) annual $25,000-value share blocks
based upon the Volume Weighted Average Trading Price (VWAP) over a
20-day period preceding the contract anniversary date. Tomagold
must also undertake exploration expenditures totaling $1,500,000 to
be completed by the fifth anniversary of signing of the option
agreement. Globex will retain a 3% Gross Metal Royalty (GMR) on the
five claims with Tomagold having the option of reducing the 3% GMR
to 2% GMR by a single $1,500,000 cash payment to Globex. Surface
sampling undertaken by Globex on the claims returned assays up to
57.1 g/t Au and 0.96% Cu over 1.0 metres in channel sampling.
Globex is also a participant with
Chibougamau Independent Mines Ltd. (CBG-TSXV) in its option of the
99 claim Chibougamau West Block and the Letter of Intent (LOI),
both with Tomagold on Chibougamau’s 127 claim East Block which
includes a number of historical copper/gold mines and the recently
drilled C-3 copper/gold zone. (Chibougamau’s press release of
today’s date). Under the agreements,
Globex will now have a 2% Gross Metal Royalty (GMR) on all the
claims potentially being purchased under the LOI and option
agreements between Tomagold and Chibougamau Independent Mines Ltd.
Globex’s 1% Gross Metal Royalty on iron production from the large
Mont Sorcier iron/vanadium deposit is not affected by these
transactions.
Globex has also sold 100% interest in
six lithium claims and claim fractions located in Fiedmont
Township, Quebec to Jourdan Resources
Inc. Globex has received $100,000 cash and
2,040,816 Jourdan shares for the property. In addition, Globex will
retain a 2% Net Smelter Royalty (NSR) half of which may be
purchased by Jourdan prior to commercial production for $1,000,000
indexed to inflation.
We have also received $150,000 from
Agrégat R-N Inc. as the initial production payment from the Silidor
Granite Quarry in Rouyn Township, Quebec.
Lastly, Globex received the initial
$100,000 cash and 1,000,000 share option payment from Burin Gold
Corp. pursuant to the Dalhousie Nickel/Copper property
option announced in a press release dated June 5,
2023.
In other news, Eros Resources Corp. (C-ERC) has
signed a non-binding Letter of Intent with Lincoln Gold Mining
(LMG-V) under which Lincoln will negotiate to acquire the
Bell Mountain Gold Project in Nevada from Eros.
Globex retains a Gross Metal Royalty (GMR) which at a gold
price of over US$1,200 per ounce is 3% GMR on all mineral
production. The royalty also applies to any gold
production within 7.5 km of the external claim boundary of the
original 54 optioned claims. In addition, Globex receives US$20,000
per year advance royalty payments. Globex is optimistic that should
the transaction be completed; this will lead to long awaited
mineral production from the property.
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) |
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CUSIP Number 379900 50 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax: 819.797.1470 info@globexmining.com
www.globexmining.com |
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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.
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