LOT:CC - Globex Receives Gwillim Option Payment
ROUYN-NORANDA, Quebec, Sept. 19, 2023 (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 Exch anges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that TomaGold Corporation (“TomaGold”) (TSXV-LOT, OTCQB -TOGOF) has made the first year payment of $15,000 and 625,000 TomaGold shares to Globex for the option of Globex’s 5 claim Gwillim property in Barlow township, Quebec.
Under the option, TomaGold may earn 100% interest in the property by making $130,000 in cash payments, paying 625,000 TomaGold shares upon signing and an additional $100,000 TomaGold shares over the 4-year option period divided equally per year based upon a 20-day VWAP and undertaking $1,500,000 in exploration work. Globex will maintain a 3% Gross Metal Royalty, 1% of which TomaGold may purchase for $1,500,000.
Preliminary prospecting by Globex had sampled up to 57.1 g/t Au and 0.96% Cu over a 1 m channel sample . The optioning of these Globex claims is another step in TomaGold’s efforts to consolidate the Chibougamau Mining Camp.
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, 14 th Street Rouyn-Noranda, Quebec Canada J9X 2J1 |
Tel.: 819.797.5242 Fax: 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 .