Globex Sets Single All-Inclusive Royalty on Chibougamau Independent Properties
13 Septembre 2023 - 3:00PM
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) wishes to inform shareholders
that Chibougamau Independent Mines Inc.
(“Chibougamau”)
(CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang &
Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US)
has been notified by Tomagold that regulators have authorized
Tomagold Corporation (
“TomaGold”)
(TSXV-LOT, OTCQB: TOGOF) to finalize the option agreement
as regards TomaGold’s option of the large
West
Block of properties held by Chibougamau in the Chibougamau
Mining Camp. Under the agreement,
Globex will retain a 2%
Gross Metal Royalty (GMR) on all the West Block properties
rather than royalties ranging from 0% to 3% GMR on select
properties.
In addition, the Letter of Intent
(LOI), which allows TomaGold, subject to due diligence,
the opportunity to acquire Chibougamau’s large East
Block which includes a number of former copper-gold mines
as well as the new, growing C-3 copper-gold orebody, for
$11,000,000 has been approved by the regulators. Similarly,
Globex will now retain a 2% GMR on all the East Block
properties. (View August 14, 2023 Chibougamau
Independent press release for details).
These undertakings are in addition to the
1% iron GMR Globex holds on the 1,226 million tonne Mont
Sorcier Iron-Vanadium deposit currently held by Cerrado
Gold. (“NI 43-101 Technical Report – Preliminary Economic
Assessment (PEA) for the Mont Sorcier Project – Quebec, Canada”
prepared by Simon Boudreau, P.Eng., Tim Fletcher, P.Eng., Daniel
Gagnon, P.Eng., Mathieu Girard, P.Eng., Marina Lund, P.Geo. and
Carl Pelletier, P.Geo., of DRA Americas Inc., InnovExplo Inc. and
Soutex Inc.).
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 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 |
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/79f593b0-996a-436a-a9b8-baf343569171
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