Globex Receives Cash for O3 Shares

ROUYN-NORANDA, Quebec, Jan. 28, 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 it accepted the offer from Agnico Eagle Mines Ltd. under their takeover bid to sell its 1,185,897 O3 Mining Inc. shares to Agnico Eagle for $1.67 per share, a 58% premium to O3’s closing price on December 11, 2024. The total received is $1,980,447.99.

Globex received the shares from the sale of 156 claims northwest of Lebel-Sur-Quevillon, Quebec as announced on December 22, 2023. Globex retains 2.5% Gross Metal Royalty on 104 claims and a 1% Gross Metal Royalty on 52 claims.

On November 20, 2024, O3 announced an 8,000-metre drill program on the claims. See O3’s press release here.

This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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 SEDARplus.ca.