Vanadium One and Glencore Enjoin to Support Development of the Mont Sorcier Iron and Vanadium Project
12 Mayo 2021 - 11:21AM
Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada,
CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in
Germany, CMAUF-OTC in the US) and GLOBEX MINING
ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt,
Stuttgart, Berlin, Munich, Tradegate, Lang &
Schwarz, L&S Exchange, TTM Zone, Stock
Exchanges and GLBXF – OTCQX International in the
US) are pleased to inform shareholders that
Vanadium One Iron Corp. (VONE-V) has enlisted the
support of Glencore plc one of the worlds largest commodity traders
to aid in the development of the Mont Sorcier iron and vanadium
project located just east of Chibougamau, Quebec. The companies
have entered into a finance raising assistance agreement and a
separate concentrate offtake agreement to support the ongoing
development and the eventual construction and production of the
Mont Sorcier iron and vanadium project. Click here for today’s
Vanadium One Iron Corp. news release.
Chibougamau Independent Mines Inc. holds
a 2% Gross Metal Royalty on all mineral production from the
property and Globex Mining Enterprises retains a 1% Gross Metal
Royalty on Mont Sorcier iron production. Globex also owns 3 million
shares of Electric Royalties (ELEC-V) that retains a 1% Gross Metal
Royalty on Mont Sorcier vanadium production. Under an agreement
with Electric Royalties related to Globex’s potential sale of its
Mid-Tennessee zinc royalty, to Electric Royalties, if completed,
Globex will receive an additional 14,500,000 Electric Royalty
shares.
Chibougamau Independent Mines and Globex are
pleased with this major step forward by Vanadium One toward
eventually achieving production.
Jack Stoch, P.Geo. President and CEO of Globex
Mining Enterprises Inc and Chibougamau Independent Mines Inc. wrote
this press release in his capacity as QP under applicable
regulations.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release.
|
We
Seek Safe Harbour. |
Foreign Private Issuer 12g3 – 2(b) |
|
CUSIP Chibougamau Independent Mines - CBG-V 167101 10
4 CUSIP Globex Mining Enterprises - GMX 379900 50 9 |
For further information, contact: |
Jack Stoch, P.Geo.,
Acc.Dir.President & CEOGlobex Mining Enterprises
Inc.Chibougamau Independent Mines Inc.86, 14th StreetRouyn-Noranda,
Quebec Canada J9X 2J1 |
Tel.: 819.797.5242Fax: 819.797.1470
info@globexmining.com www.globexmining.com |
Forward Looking StatementsExcept 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 Globex’s “Annual Information Form” available on
SEDAR at www.sedar.com
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