Globex Mining

Globex Mining raises C$1.2 million in private placement

Globex plans to use the funds to explore its properties in Quebec, Nova Scotia and Ontario

globex project
Globex has 168 projects in its mineral portfolio

Globex Mining Enterprises Inc (TSE:GMX) announced Friday that it closed the final tranche of financing, raising C$1.2 million to fund exploration at its eastern Canadian projects.

The mining company issued 700,000 flow-through shares at C$0.40 for non-Quebec subscribers and nearly 50,000 flow-through shares at C$0.45 to subscribers residing in the province.

Rouyn-Noranda-based Globex plans to use the funds to explore its properties in Quebec, Nova Scotia and Ontario, it said in a release.

WATCH: Globex Mining stake in Gold Project in Bateman Bay looks promising after Drilling

Globex shares slipped 2.5% on Friday afternoon at C$0.39.

Globex, a property bank, has 80 gold projects, 57 base metals properties and more than 29 specialty minerals projects for a total of 168 assets.

Contact Katie Lewis at [email protected]


Quick facts: Globex Mining

Price: $0.35

Market: TSX
Market Cap: $19.04 m

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