GMX Globex Mining Enterprises Inc.

Globex Completes Sale of Francoeur/Arntfield/Lac Fortune Gold Property to Yamana Gold Inc. for $15 Million

Globex Completes Sale of Francoeur/Arntfield/Lac Fortune Gold Property to Yamana Gold Inc. for $15 Million

ROUYN-NORANDA, Quebec, June 22, 2021 (GLOBE NEWSWIRE) -- 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 USA) is pleased to inform shareholders that it has completed its previously-announced sale to Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY) of the Francoeur/Arntfield/Lac Fortune gold property in Abitibi, Québec as well as 30 claims in Beauchastel township and three claims in Malartic township, Québec. The Francoeur/Arntfield/Lac Fortune property adjoins Yamana’s Wasamac Gold Mine project.

At closing, Globex received an initial payment of $4,000,000 from Yamana, satisfied by Yamana issuing 706,714 shares to Globex at a deemed price of $5.66 per share. As previously announced, the Purchase Agreement provides that Yamana will make the following additional cash payments to Globex, which Globex may elect to receive in Yamana shares:

On:- first anniversary of closing:

$3,000,000

 - second anniversary of closing:$2,000,000
 - third anniversary of closing:$3,000,000
 - fourth anniversary of closing:  $3,000,000

Globex retained a 2% Gross Metal Royalty on all mineral production from the properties, of which 0.5% may be purchased by Yamana for $1,500,000.

The 706,714 Yamana shares issued to Globex at closing are subject to restrictions on resale for a period of four months.

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)
 CUSIP Number 379900 50 9

LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.

President & CEO

Globex Mining Enterprises Inc.

86, 14th Street

Rouyn-Noranda, Quebec Canada J9X 2J1


Tel.: 819.797.5242

Fax: 819.797.1470



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, including closing of the transaction with Yamana Gold Inc., 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 .

55,059,817 shares issued and outstanding



EN
22/06/2021

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Globex Mining Enterprises Inc.

 PRESS RELEASE

Globex Options Virgin Mountain Rare Earth & Beryllium Project in Ariz...

Globex Options Virgin Mountain Rare Earth & Beryllium Project in Arizona TORONTO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- 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 that we have optioned our Virgin Mountain Rare Earth Property located in Mohave County, northwestern Arizona to Arizona Mountain Pass Heavy Rare Earths Pty Ltd., an Australia exploration company...

 PRESS RELEASE

Globex’s Gold/Silver Exploration Property in Nevada

Globex’s Gold/Silver Exploration Property in Nevada ROUYN-NORANDA, Quebec, Sept. 26, 2025 (GLOBE NEWSWIRE) -- 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 make shareholders aware of our 100% owned, 16 unpatented lode claims totaling 133.78 hectares (330.57 acres) staked in Clark County, Nevada, USA.   Grab samples collected by Globex assayed up to 1,171 g/t Silver and 11.5 g...

 PRESS RELEASE

Antimony Resources Starts Phase Two Drill Program at Globex’s Bald Hil...

Antimony Resources Starts Phase Two Drill Program at Globex’s Bald Hill Antimony Property ROUYN-NORANDA, Quebec, Sept. 23, 2025 (GLOBE NEWSWIRE) -- 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 update shareholders as regards continuing work on Globex’s Bald Hill Antimony Property located in New Brunswick under option to Antimony Resources Corp. (ATMY-CSE, K8JO-FSE). , that h...

 PRESS RELEASE

Update on the Increasing Value in Globex

Update on the Increasing Value in Globex TORONTO, Sept. 11, 2025 (GLOBE NEWSWIRE) -- 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 provide an update on our financial portfolio, option/royalty portfolio and property portfolio. Globex has a financial portfolio totalling approximately $34.73 million, has a royalty portfolio totalling 110 royalties of which 61 cover gold projects...

 PRESS RELEASE

High-Grade Gold Intersected on Globex’s Kewagama Gold Royalty Claims

High-Grade Gold Intersected on Globex’s Kewagama Gold Royalty Claims ROUYN-NORANDA, Quebec, Sept. 09, 2025 (GLOBE NEWSWIRE) -- 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 provide an additional update as regards drilling by Radisson Mining Resources Inc. (RDS-TSXV, RMRDF-OTCQB) on Globex’s Kewagama Gold Mine Royalty claims. Globex holds a two percent (2%) Net Smelter Royalty...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch