Globex Announces Record Date for Spin-Out of Chibougamau Independent Mines Inc.
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 12/18/12 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX: GLBXF) is pleased to announce that the record date for the "spin out" of the shares of Chibougamau Independent Mines Inc. ("CIM") to Globex's shareholders will be the close of business on Friday, December 28, 2012. Every shareholder of record at the close of business on that day will receive one share of CIM for each Globex share held. The CIM shares will be distributed pursuant to a previously-announced Plan of Arrangement between Globex and CIM.
CIM will hold a closing of its previously-announced private placement of flow-through" units and "hard dollar" units on December 31, 2012. The private placement is being effected through Casimir Capital Ltd. and Marquest Capital Markets, as co-lead agents.
As previously announced, the TSX Venture Exchange has conditionally approved CIM's listing application. The commencement of trading of CIM on the TSX Venture Exchange is conditional upon, among other things, closing by CIM of its private placement and delivery of standard listing documentation.
We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 10 3
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
27,704,378 shares issued and outstanding
Contacts:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com
